Mortgage Calculator
Calculate your monthly mortgage payments and see a detailed breakdown of costs
Calculate Your Payment
How to Use This Calculator
- Enter the home price and your down payment amount
- Input the current interest rate (check with lenders)
- Add property tax and insurance estimates
- Include PMI if your down payment is less than 20%
- Add HOA fees if applicable
Important Notes
- • Results are estimates and may vary from actual payments
- • Property tax rates vary by location and property value
- • Insurance costs depend on coverage and property type
- • PMI typically requires when down payment < 20%
- • Consult with a mortgage professional for accurate quotes
Mortgage Tips & Information
Down Payment
While 20% is traditional, many loans allow 3-10% down. Higher down payments reduce monthly costs and eliminate PMI.
Interest Rates
Rates vary based on credit score, loan type, and market conditions. Shop around with multiple lenders for the best rate.
PMI (Private Mortgage Insurance)
Required for conventional loans with less than 20% down. Can be removed once you reach 20% equity in your home.
Property Taxes
Usually 1-3% of home value annually, varies by location. Often included in monthly payment via escrow account.
Home Insurance
Required by lenders to protect their investment. Costs vary by location, coverage, and home characteristics.
Additional Costs
Don't forget closing costs, moving expenses, utilities, maintenance, and potential HOA fees.