Mortgage Calculator

Use our home loan calculator to estimate your total mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment, and details about the home loan to calculate your mortgage payment, schedule, and more.

The basic calculator only reflects a portion of what your monthly costs will be--using the advanced calculator tab will give better insight into the total monthly costs of home ownership.

Payment

Schedule

Your mortgage payments over 30 years will add up to $0.

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Mortgage Help

Down Payment

A common misconception is that you have to pay 20% down on your home when purchasing, but there are loans available that allow as little as 3% down. Your down payment reduces the total amount of your mortgage loan, so the more money you put down, the lower your payments will be - or the more expensive a house you can buy. Depending on where you live, there are often local programs that will get you down payment assistance if you qualify--reach out today to discuss!

Loan Term

Your loan program can affect your interest rate and monthly payments. Choose from 30-year fixed, 15-year fixed, and more in the calculator.

Loan Type

There are several types of mortgage loans, but the most commonly used are fixed-rate and adjustable-rate loans. Fixed-rate loans have the same interest rate for the entire duration of the loan. That means your monthly payment will be the same, even for long-term loans, such as 30-year fixed-rate mortgages. Two benefits to this loan type are stability, and being able to calculate your total interest up front. Adjustable-rate mortgages (ARMs) have interest rates that can change over time. Typically they start out at a lower interest rate than a fixed-rate loan, and hold that rate for a set number of years, before changing interest rates from year to year. For example, if you have a 5/1 ARM, you will have the same interest rate for the first 5 years, and then your interest rate will change from year to year. The main benefit of an adjustable-rate loan is starting off with a lower interest rate.

Interest Rate

This field is pre-filled with the current average mortgage rate. Your actual rate will vary based on factors like credit score and down payment. Only a lender will be able to tell you what rate can be offered, which is why it is so important for us to get prequalified prior to searching so that we can determine your buying power in your search.

Property Tax Rate

The mortgage payment calculator includes estimated property taxes based on the home's value. You can edit this in the advanced options.

Home Insurance

Home insurance or homeowners insurance is typically required by lenders, depending on the loan program. You can edit this number in the mortgage calculator advanced options.

HOA Fees

A homeowners association fee (HOA fee) is an amount of money that must be paid monthly by owners of certain types of residential properties, and HOAs collect these fees to assist with maintaining and improving properties in the association. Depending on what type of real estate you are purchasing, there are other fees and dues that may be associated with the purchase (such as condo fees, buy-in fees for some community organizations, etc).