Mortgage Calculator

Mortgage Calculator

Mortgage Rates  |  Mortgage Widgets

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% ($62)
years
%
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$1,267
Monthly payment
Equals
$1,267
Prin. & Int.
Plus
$0
Taxes
Plus
$0
Insurance
Plus
$0
HOA fees
$456,017
Total of 360 payments
Equals
$250,000
Principal
Plus
$206,017
Interest
Plus
$0
Taxes
Plus
$0
Insurance
Plus
$0
HOA fees
Date Principal Interest Tax, Ins. & HOA Balance
Apr $329 $938 $0 $249,671
May $330 $936 $0 $249,340
Jun $332 $935 $0 $249,009
Jul $333 $934 $0 $248,676
Aug $334 $933 $0 $248,342
Sep $335 $931 $0 $248,006
Oct $337 $930 $0 $247,669
Nov $338 $929 $0 $247,331
Dec $339 $927 $0 $246,992
2025 $3,008 $8,393 $0 $246,992
Jan $340 $926 $0 $246,652
Feb $342 $925 $0 $246,310
Mar $343 $924 $0 $245,967
Apr $344 $922 $0 $245,623
May $346 $921 $0 $245,277
Jun $347 $920 $0 $244,930
Jul $348 $918 $0 $244,582
Aug $350 $917 $0 $244,232
Sep $351 $916 $0 $243,881
Oct $352 $915 $0 $243,529
Nov $353 $913 $0 $243,176
Dec $355 $912 $0 $242,821
2026 $4,171 $11,029 $0 $242,821
Jan $356 $911 $0 $242,465
Feb $357 $909 $0 $242,107
Mar $359 $908 $0 $241,749
Apr $360 $907 $0 $241,388
May $362 $905 $0 $241,027
Jun $363 $904 $0 $240,664
Jul $364 $902 $0 $240,300
Aug $366 $901 $0 $239,934
Sep $367 $900 $0 $239,567
Oct $368 $898 $0 $239,199
Nov $370 $897 $0 $238,829
Dec $371 $896 $0 $238,458
2027 $4,363 $10,838 $0 $238,458
Jan $372 $894 $0 $238,086
Feb $374 $893 $0 $237,712
Mar $375 $891 $0 $237,336
Apr $377 $890 $0 $236,960
May $378 $889 $0 $236,582
Jun $380 $887 $0 $236,202
Jul $381 $886 $0 $235,821
Aug $382 $884 $0 $235,439
Sep $384 $883 $0 $235,055
Oct $385 $881 $0 $234,670
Nov $387 $880 $0 $234,283
Dec $388 $879 $0 $233,895
2028 $4,563 $10,637 $0 $233,895
Jan $390 $877 $0 $233,505
Feb $391 $876 $0 $233,114
Mar $393 $874 $0 $232,722
Apr $394 $873 $0 $232,328
May $395 $871 $0 $231,932
Jun $397 $870 $0 $231,535
Jul $398 $868 $0 $231,137
Aug $400 $867 $0 $230,737
Sep $401 $865 $0 $230,335
Oct $403 $864 $0 $229,932
Nov $404 $862 $0 $229,528
Dec $406 $861 $0 $229,122
2029 $4,773 $10,428 $0 $229,122
Jan $408 $859 $0 $228,714
Feb $409 $858 $0 $228,305
Mar $411 $856 $0 $227,895
Apr $412 $855 $0 $227,483
May $414 $853 $0 $227,069
Jun $415 $852 $0 $226,654
Jul $417 $850 $0 $226,237
Aug $418 $848 $0 $225,819
Sep $420 $847 $0 $225,399
Oct $421 $845 $0 $224,977
Nov $423 $844 $0 $224,554
Dec $425 $842 $0 $224,130
2030 $4,992 $10,208 $0 $224,130
Jan $426 $840 $0 $223,703
Feb $428 $839 $0 $223,276
Mar $429 $837 $0 $222,846
Apr $431 $836 $0 $222,415
May $433 $834 $0 $221,983
Jun $434 $832 $0 $221,548
Jul $436 $831 $0 $221,112
Aug $438 $829 $0 $220,675
Sep $439 $828 $0 $220,236
Oct $441 $826 $0 $219,795
Nov $442 $824 $0 $219,352
Dec $444 $823 $0 $218,908
2031 $5,222 $9,979 $0 $218,908
Jan $446 $821 $0 $218,462
Feb $447 $819 $0 $218,015
Mar $449 $818 $0 $217,566
Apr $451 $816 $0 $217,115
May $453 $814 $0 $216,662
Jun $454 $812 $0 $216,208
Jul $456 $811 $0 $215,752
Aug $458 $809 $0 $215,295
Sep $459 $807 $0 $214,835
Oct $461 $806 $0 $214,374
Nov $463 $804 $0 $213,911
Dec $465 $802 $0 $213,447
2032 $5,461 $9,739 $0 $213,447
Jan $466 $800 $0 $212,980
Feb $468 $799 $0 $212,512
Mar $470 $797 $0 $212,043
Apr $472 $795 $0 $211,571
May $473 $793 $0 $211,098
Jun $475 $792 $0 $210,623
Jul $477 $790 $0 $210,146
Aug $479 $788 $0 $209,667
Sep $480 $786 $0 $209,187
Oct $482 $784 $0 $208,704
Nov $484 $783 $0 $208,220
Dec $486 $781 $0 $207,734
2033 $5,712 $9,488 $0 $207,734
Jan $488 $779 $0 $207,247
Feb $490 $777 $0 $206,757
Mar $491 $775 $0 $206,266
Apr $493 $773 $0 $205,773
May $495 $772 $0 $205,278
Jun $497 $770 $0 $204,781
Jul $499 $768 $0 $204,282
Aug $501 $766 $0 $203,781
Sep $503 $764 $0 $203,279
Oct $504 $762 $0 $202,774
Nov $506 $760 $0 $202,268
Dec $508 $759 $0 $201,760
2034 $5,975 $9,226 $0 $201,760
Jan $510 $757 $0 $201,250
Feb $512 $755 $0 $200,738
Mar $514 $753 $0 $200,224
Apr $516 $751 $0 $199,708
May $518 $749 $0 $199,190
Jun $520 $747 $0 $198,670
Jul $522 $745 $0 $198,148
Aug $524 $743 $0 $197,625
Sep $526 $741 $0 $197,099
Oct $528 $739 $0 $196,572
Nov $530 $737 $0 $196,042
Dec $532 $735 $0 $195,510
2035 $6,249 $8,951 $0 $195,510
Jan $534 $733 $0 $194,977
Feb $536 $731 $0 $194,441
Mar $538 $729 $0 $193,904
Apr $540 $727 $0 $193,364
May $542 $725 $0 $192,823
Jun $544 $723 $0 $192,279
Jul $546 $721 $0 $191,733
Aug $548 $719 $0 $191,186
Sep $550 $717 $0 $190,636
Oct $552 $715 $0 $190,084
Nov $554 $713 $0 $189,530
Dec $556 $711 $0 $188,974
2036 $6,536 $8,664 $0 $188,974
Jan $558 $709 $0 $188,416
Feb $560 $707 $0 $187,856
Mar $562 $704 $0 $187,294
Apr $564 $702 $0 $186,729
May $566 $700 $0 $186,163
Jun $569 $698 $0 $185,594
Jul $571 $696 $0 $185,024
Aug $573 $694 $0 $184,451
Sep $575 $692 $0 $183,876
Oct $577 $690 $0 $183,298
Nov $579 $687 $0 $182,719
Dec $582 $685 $0 $182,138
2037 $6,837 $8,364 $0 $182,138
Jan $584 $683 $0 $181,554
Feb $586 $681 $0 $180,968
Mar $588 $679 $0 $180,380
Apr $590 $676 $0 $179,790
May $593 $674 $0 $179,197
Jun $595 $672 $0 $178,602
Jul $597 $670 $0 $178,005
Aug $599 $668 $0 $177,406
Sep $601 $665 $0 $176,805
Oct $604 $663 $0 $176,201
Nov $606 $661 $0 $175,595
Dec $608 $658 $0 $174,987
2038 $7,151 $8,050 $0 $174,987
Jan $611 $656 $0 $174,376
Feb $613 $654 $0 $173,764
Mar $615 $652 $0 $173,148
Apr $617 $649 $0 $172,531
May $620 $647 $0 $171,911
Jun $622 $645 $0 $171,289
Jul $624 $642 $0 $170,665
Aug $627 $640 $0 $170,038
Sep $629 $638 $0 $169,409
Oct $631 $635 $0 $168,778
Nov $634 $633 $0 $168,144
Dec $636 $631 $0 $167,508
2039 $7,479 $7,721 $0 $167,508
Jan $639 $628 $0 $166,869
Feb $641 $626 $0 $166,228
Mar $643 $623 $0 $165,585
Apr $646 $621 $0 $164,939
May $648 $619 $0 $164,291
Jun $651 $616 $0 $163,640
Jul $653 $614 $0 $162,987
Aug $656 $611 $0 $162,332
Sep $658 $609 $0 $161,674
Oct $660 $606 $0 $161,013
Nov $663 $604 $0 $160,350
Dec $665 $601 $0 $159,685
2040 $7,823 $7,378 $0 $159,685
Jan $668 $599 $0 $159,017
Feb $670 $596 $0 $158,347
Mar $673 $594 $0 $157,674
Apr $675 $591 $0 $156,998
May $678 $589 $0 $156,320
Jun $681 $586 $0 $155,640
Jul $683 $584 $0 $154,957
Aug $686 $581 $0 $154,271
Sep $688 $579 $0 $153,583
Oct $691 $576 $0 $152,892
Nov $693 $573 $0 $152,199
Dec $696 $571 $0 $151,503
2041 $8,182 $7,018 $0 $151,503
Jan $699 $568 $0 $150,804
Feb $701 $566 $0 $150,103
Mar $704 $563 $0 $149,399
Apr $706 $560 $0 $148,693
May $709 $558 $0 $147,984
Jun $712 $555 $0 $147,272
Jul $714 $552 $0 $146,557
Aug $717 $550 $0 $145,840
Sep $720 $547 $0 $145,121
Oct $723 $544 $0 $144,398
Nov $725 $541 $0 $143,673
Dec $728 $539 $0 $142,945
2042 $8,558 $6,643 $0 $142,945
Jan $731 $536 $0 $142,214
Feb $733 $533 $0 $141,481
Mar $736 $531 $0 $140,745
Apr $739 $528 $0 $140,006
May $742 $525 $0 $139,264
Jun $744 $522 $0 $138,520
Jul $747 $519 $0 $137,772
Aug $750 $517 $0 $137,022
Sep $753 $514 $0 $136,269
Oct $756 $511 $0 $135,514
Nov $759 $508 $0 $134,755
Dec $761 $505 $0 $133,994
2043 $8,951 $6,249 $0 $133,994
Jan $764 $502 $0 $133,229
Feb $767 $500 $0 $132,462
Mar $770 $497 $0 $131,692
Apr $773 $494 $0 $130,920
May $776 $491 $0 $130,144
Jun $779 $488 $0 $129,365
Jul $782 $485 $0 $128,584
Aug $785 $482 $0 $127,799
Sep $787 $479 $0 $127,012
Oct $790 $476 $0 $126,221
Nov $793 $473 $0 $125,428
Dec $796 $470 $0 $124,631
2044 $9,362 $5,838 $0 $124,631
Jan $799 $467 $0 $123,832
Feb $802 $464 $0 $123,030
Mar $805 $461 $0 $122,224
Apr $808 $458 $0 $121,416
May $811 $455 $0 $120,605
Jun $814 $452 $0 $119,790
Jul $818 $449 $0 $118,973
Aug $821 $446 $0 $118,152
Sep $824 $443 $0 $117,328
Oct $827 $440 $0 $116,502
Nov $830 $437 $0 $115,672
Dec $833 $434 $0 $114,839
2045 $9,792 $5,408 $0 $114,839
Jan $836 $431 $0 $114,003
Feb $839 $428 $0 $113,164
Mar $842 $424 $0 $112,321
Apr $846 $421 $0 $111,476
May $849 $418 $0 $110,627
Jun $852 $415 $0 $109,775
Jul $855 $412 $0 $108,920
Aug $858 $408 $0 $108,062
Sep $861 $405 $0 $107,200
Oct $865 $402 $0 $106,336
Nov $868 $399 $0 $105,468
Dec $871 $396 $0 $104,597
2046 $10,242 $4,958 $0 $104,597
Jan $874 $392 $0 $103,722
Feb $878 $389 $0 $102,844
Mar $881 $386 $0 $101,963
Apr $884 $382 $0 $101,079
May $888 $379 $0 $100,191
Jun $891 $376 $0 $99,300
Jul $894 $372 $0 $98,406
Aug $898 $369 $0 $97,508
Sep $901 $366 $0 $96,607
Oct $904 $362 $0 $95,703
Nov $908 $359 $0 $94,795
Dec $911 $355 $0 $93,884
2047 $10,713 $4,488 $0 $93,884
Jan $915 $352 $0 $92,969
Feb $918 $349 $0 $92,051
Mar $922 $345 $0 $91,129
Apr $925 $342 $0 $90,204
May $928 $338 $0 $89,276
Jun $932 $335 $0 $88,344
Jul $935 $331 $0 $87,409
Aug $939 $328 $0 $86,470
Sep $942 $324 $0 $85,527
Oct $946 $321 $0 $84,581
Nov $950 $317 $0 $83,632
Dec $953 $314 $0 $82,679
2048 $11,205 $3,996 $0 $82,679
Jan $957 $310 $0 $81,722
Feb $960 $306 $0 $80,762
Mar $964 $303 $0 $79,798
Apr $967 $299 $0 $78,830
May $971 $296 $0 $77,859
Jun $975 $292 $0 $76,885
Jul $978 $288 $0 $75,906
Aug $982 $285 $0 $74,924
Sep $986 $281 $0 $73,938
Oct $989 $277 $0 $72,949
Nov $993 $274 $0 $71,956
Dec $997 $270 $0 $70,959
2049 $11,720 $3,481 $0 $70,959
Jan $1,001 $266 $0 $69,958
Feb $1,004 $262 $0 $68,954
Mar $1,008 $259 $0 $67,946
Apr $1,012 $255 $0 $66,934
May $1,016 $251 $0 $65,918
Jun $1,020 $247 $0 $64,899
Jul $1,023 $243 $0 $63,875
Aug $1,027 $240 $0 $62,848
Sep $1,031 $236 $0 $61,817
Oct $1,035 $232 $0 $60,782
Nov $1,039 $228 $0 $59,743
Dec $1,043 $224 $0 $58,701
2050 $12,258 $2,942 $0 $58,701
Jan $1,047 $220 $0 $57,654
Feb $1,051 $216 $0 $56,604
Mar $1,054 $212 $0 $55,549
Apr $1,058 $208 $0 $54,491
May $1,062 $204 $0 $53,428
Jun $1,066 $200 $0 $52,362
Jul $1,070 $196 $0 $51,292
Aug $1,074 $192 $0 $50,217
Sep $1,078 $188 $0 $49,139
Oct $1,082 $184 $0 $48,056
Nov $1,087 $180 $0 $46,970
Dec $1,091 $176 $0 $45,879
2051 $12,821 $2,379 $0 $45,879
Jan $1,095 $172 $0 $44,785
Feb $1,099 $168 $0 $43,686
Mar $1,103 $164 $0 $42,583
Apr $1,107 $160 $0 $41,476
May $1,111 $156 $0 $40,365
Jun $1,115 $151 $0 $39,249
Jul $1,120 $147 $0 $38,130
Aug $1,124 $143 $0 $37,006
Sep $1,128 $139 $0 $35,878
Oct $1,132 $135 $0 $34,746
Nov $1,136 $130 $0 $33,610
Dec $1,141 $126 $0 $32,469
2052 $13,410 $1,790 $0 $32,469
Jan $1,145 $122 $0 $31,324
Feb $1,149 $117 $0 $30,175
Mar $1,154 $113 $0 $29,021
Apr $1,158 $109 $0 $27,863
May $1,162 $104 $0 $26,701
Jun $1,167 $100 $0 $25,535
Jul $1,171 $96 $0 $24,364
Aug $1,175 $91 $0 $23,188
Sep $1,180 $87 $0 $22,008
Oct $1,184 $83 $0 $20,824
Nov $1,189 $78 $0 $19,636
Dec $1,193 $74 $0 $18,443
2053 $14,026 $1,174 $0 $18,443
Jan $1,198 $69 $0 $17,245
Feb $1,202 $65 $0 $16,043
Mar $1,207 $60 $0 $14,836
Apr $1,211 $56 $0 $13,625
May $1,216 $51 $0 $12,410
Jun $1,220 $47 $0 $11,190
Jul $1,225 $42 $0 $9,965
Aug $1,229 $37 $0 $8,735
Sep $1,234 $33 $0 $7,502
Oct $1,239 $28 $0 $6,263
Nov $1,243 $23 $0 $5,020
Dec $1,248 $19 $0 $3,772
2054 $14,671 $530 $0 $3,772
Jan $1,253 $14 $0 $2,519
Feb $1,257 $9 $0 $1,262
Mar $1,262 $5 $0 $0
2055 $3,772 $28 $0 $0
Totals $250,000 $206,017 $0

Use our mortgage calculator to help you estimate your monthly payments and what you can afford. Buying a house is the largest investment of your lifetime, and preparation is key. With our home loan calculator, you can play around with the numbers including the loan amount, down payment, and interest rate to see how different factors affect your payment.

Knowing what you can afford is the first step in buying a home. It puts you well ahead of the competition. You can talk to lenders and understand the numbers they throw at you and know what you're comfortable paying each month.

Buying a home and taking out a mortgage isn't just about the interest rate – it's about the big picture. Use our mortgage calculator to see that big picture so you know what you're getting into since a mortgage is a long-term commitment, sometimes as long as 30 years.

F.A.Q.

What is a mortgage?

A mortgage is a loan you take out to buy a home. Lenders base your eligibility on your credit score, current debts, money saved, and the home's value. The difference between a mortgage and a standard loan, besides the loan amount, is the collateral. Lenders use your house as collateral. If you default on your payments (usually more than 90 days), they can foreclose on your property. The bank then takes the home and sells it to make back the money lost from you not making your payments.

What is mortgage insurance?

Mortgage insurance is insurance for the lender. Borrowers pay it, but it is for the lender if you default on the loan. Conventional loans require mortgage insurance if you put down less than 20% on the home. You can cancel it once you pay your balance down to 80% of the home's value.

Government loans, including FHA and USDA loans, charge mortgage insurance for the life of the loan, but at a rate lower than conventional loans. Mortgage insurance helps borrowers secure a loan when they don't have great credit or don't have much money to put down on the home.

How to calculate a mortgage payment?

Your mortgage payment includes principal, interest, mortgage insurance, real estate taxes, and homeowner's insurance. The principal is the amount you borrow. The interest is the fee the bank charges. You can figure out the monthly amount by taking the annual interest rate (rate quoted) and dividing it by 12. Multiply that number (your monthly interest rate) by the outstanding principal balance to get your interest charges.

The mortgage payment is the principal (the portion you'll pay) plus the monthly interest, 1/12th of the real estate taxes, 1/12th of the home insurance, and the required mortgage insurance (if applicable).

How much mortgage can I afford?

Lenders determine how much mortgage you can afford based on your income, credit score, and current debts. Each situation is different but in general, lenders allow up to a 43 – 50% debt-to-income ratio. Your mortgage (principal, interest, real estate taxes, home insurance, and mortgage insurance) plus any existing debts, such as credit cards, car loans, or personal loans shouldn't exceed 43% - 50% of your gross monthly income (income before taxes).

Definitions

Mortgage

A mortgage is a loan you borrow to buy a home. It includes the principal, interest, and required mortgage insurance. Some lenders also require you to include your real estate taxes and home insurance in the payment. You use the mortgage in addition to your down payment to buy a home.

Mortgage Calculator

A mortgage calculator can help you determine how much house you can afford and estimate your payments. It's a great tool to use before you shop for a house or before you refinance. See what your monthly payments would be and how different factors affect it.

Purchase Price

The purchase price is the price you agree to pay for a house with the seller. Whether the seller accepts your first offer or you go back and forth, the purchase price is the final number you agree on and that is written on your sales contract. Lenders use this number as a baseline when determining your mortgage amount.

Down Payment

The down payment is the money you invest in the home. You'll need at least 3.5%, but sometimes more. You base the down payment on the purchase price. For example, if your purchase price is $100,000, a 3.5% down payment would be $3,500 and a 20% down payment would be $20,000.

Interest Rate

The interest rate is the fee the lender charges monthly until you pay the loan in full. They quote you an annual interest rate, but you can figure out the monthly rate by dividing the annual rate by 12. As you pay your principal balance down, you'll pay less interest. You can check today's mortgage rates on our website.

Mortgage Term

The mortgage term is the time you have to pay the loan back. Most borrowers take out a 30-year or 360-month term, but there are other options including a 10, 15, and 20-year term. The less time you borrow the money, the lower the interest rate a lender will charge.

Start Date

The start date is the date of your first payment. It's not the date you take out the mortgage. You pay interest in arrears, so your first payment will be the month following the month after you close on the loan. For example, a loan closed on January 15 would have its first payment on March 1st.

Property tax

All US counties charge property tax. You can find out the amount by visiting the county assessor's website. The property taxes are a percentage of your home's assessed value. Many mortgage lenders require you to pay your taxes monthly with your mortgage payment to make sure they are paid.

Property insurance

Property insurance is required by lenders. It insures you against financial loss but also protects the lender. If you couldn't afford to renovate the home or build it again after a fire, the lender would have a total loss. Property insurance protects both parties.

PMI

PMI stands for Private Mortgage Insurance and only applies to conventional loans. If you put down less than 20% of the purchase price, the lender will require PMI until you owe less than 80% of the home's value. If you default on your loan (for over 90 days), the lender can make a claim with the insurance company, foreclose on your home, and get back a portion of the amount they lost.

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