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
Dec $329 $938 $0 $249,671
2024 $329 $938 $0 $249,671
Jan $330 $936 $0 $249,340
Feb $332 $935 $0 $249,009
Mar $333 $934 $0 $248,676
Apr $334 $933 $0 $248,342
May $335 $931 $0 $248,006
Jun $337 $930 $0 $247,669
Jul $338 $929 $0 $247,331
Aug $339 $927 $0 $246,992
Sep $340 $926 $0 $246,652
Oct $342 $925 $0 $246,310
Nov $343 $924 $0 $245,967
Dec $344 $922 $0 $245,623
2025 $4,048 $11,152 $0 $245,623
Jan $346 $921 $0 $245,277
Feb $347 $920 $0 $244,930
Mar $348 $918 $0 $244,582
Apr $350 $917 $0 $244,232
May $351 $916 $0 $243,881
Jun $352 $915 $0 $243,529
Jul $353 $913 $0 $243,176
Aug $355 $912 $0 $242,821
Sep $356 $911 $0 $242,465
Oct $357 $909 $0 $242,107
Nov $359 $908 $0 $241,749
Dec $360 $907 $0 $241,388
2026 $4,234 $10,966 $0 $241,388
Jan $362 $905 $0 $241,027
Feb $363 $904 $0 $240,664
Mar $364 $902 $0 $240,300
Apr $366 $901 $0 $239,934
May $367 $900 $0 $239,567
Jun $368 $898 $0 $239,199
Jul $370 $897 $0 $238,829
Aug $371 $896 $0 $238,458
Sep $372 $894 $0 $238,086
Oct $374 $893 $0 $237,712
Nov $375 $891 $0 $237,336
Dec $377 $890 $0 $236,960
2027 $4,429 $10,772 $0 $236,960
Jan $378 $889 $0 $236,582
Feb $380 $887 $0 $236,202
Mar $381 $886 $0 $235,821
Apr $382 $884 $0 $235,439
May $384 $883 $0 $235,055
Jun $385 $881 $0 $234,670
Jul $387 $880 $0 $234,283
Aug $388 $879 $0 $233,895
Sep $390 $877 $0 $233,505
Oct $391 $876 $0 $233,114
Nov $393 $874 $0 $232,722
Dec $394 $873 $0 $232,328
2028 $4,632 $10,568 $0 $232,328
Jan $395 $871 $0 $231,932
Feb $397 $870 $0 $231,535
Mar $398 $868 $0 $231,137
Apr $400 $867 $0 $230,737
May $401 $865 $0 $230,335
Jun $403 $864 $0 $229,932
Jul $404 $862 $0 $229,528
Aug $406 $861 $0 $229,122
Sep $408 $859 $0 $228,714
Oct $409 $858 $0 $228,305
Nov $411 $856 $0 $227,895
Dec $412 $855 $0 $227,483
2029 $4,845 $10,356 $0 $227,483
Jan $414 $853 $0 $227,069
Feb $415 $852 $0 $226,654
Mar $417 $850 $0 $226,237
Apr $418 $848 $0 $225,819
May $420 $847 $0 $225,399
Jun $421 $845 $0 $224,977
Jul $423 $844 $0 $224,554
Aug $425 $842 $0 $224,130
Sep $426 $840 $0 $223,703
Oct $428 $839 $0 $223,276
Nov $429 $837 $0 $222,846
Dec $431 $836 $0 $222,415
2030 $5,068 $10,133 $0 $222,415
Jan $433 $834 $0 $221,983
Feb $434 $832 $0 $221,548
Mar $436 $831 $0 $221,112
Apr $438 $829 $0 $220,675
May $439 $828 $0 $220,236
Jun $441 $826 $0 $219,795
Jul $442 $824 $0 $219,352
Aug $444 $823 $0 $218,908
Sep $446 $821 $0 $218,462
Oct $447 $819 $0 $218,015
Nov $449 $818 $0 $217,566
Dec $451 $816 $0 $217,115
2031 $5,300 $9,900 $0 $217,115
Jan $453 $814 $0 $216,662
Feb $454 $812 $0 $216,208
Mar $456 $811 $0 $215,752
Apr $458 $809 $0 $215,295
May $459 $807 $0 $214,835
Jun $461 $806 $0 $214,374
Jul $463 $804 $0 $213,911
Aug $465 $802 $0 $213,447
Sep $466 $800 $0 $212,980
Oct $468 $799 $0 $212,512
Nov $470 $797 $0 $212,043
Dec $472 $795 $0 $211,571
2032 $5,544 $9,657 $0 $211,571
Jan $473 $793 $0 $211,098
Feb $475 $792 $0 $210,623
Mar $477 $790 $0 $210,146
Apr $479 $788 $0 $209,667
May $480 $786 $0 $209,187
Jun $482 $784 $0 $208,704
Jul $484 $783 $0 $208,220
Aug $486 $781 $0 $207,734
Sep $488 $779 $0 $207,247
Oct $490 $777 $0 $206,757
Nov $491 $775 $0 $206,266
Dec $493 $773 $0 $205,773
2033 $5,798 $9,402 $0 $205,773
Jan $495 $772 $0 $205,278
Feb $497 $770 $0 $204,781
Mar $499 $768 $0 $204,282
Apr $501 $766 $0 $203,781
May $503 $764 $0 $203,279
Jun $504 $762 $0 $202,774
Jul $506 $760 $0 $202,268
Aug $508 $759 $0 $201,760
Sep $510 $757 $0 $201,250
Oct $512 $755 $0 $200,738
Nov $514 $753 $0 $200,224
Dec $516 $751 $0 $199,708
2034 $6,065 $9,136 $0 $199,708
Jan $518 $749 $0 $199,190
Feb $520 $747 $0 $198,670
Mar $522 $745 $0 $198,148
Apr $524 $743 $0 $197,625
May $526 $741 $0 $197,099
Jun $528 $739 $0 $196,572
Jul $530 $737 $0 $196,042
Aug $532 $735 $0 $195,510
Sep $534 $733 $0 $194,977
Oct $536 $731 $0 $194,441
Nov $538 $729 $0 $193,904
Dec $540 $727 $0 $193,364
2035 $6,343 $8,857 $0 $193,364
Jan $542 $725 $0 $192,823
Feb $544 $723 $0 $192,279
Mar $546 $721 $0 $191,733
Apr $548 $719 $0 $191,186
May $550 $717 $0 $190,636
Jun $552 $715 $0 $190,084
Jul $554 $713 $0 $189,530
Aug $556 $711 $0 $188,974
Sep $558 $709 $0 $188,416
Oct $560 $707 $0 $187,856
Nov $562 $704 $0 $187,294
Dec $564 $702 $0 $186,729
2036 $6,635 $8,566 $0 $186,729
Jan $566 $700 $0 $186,163
Feb $569 $698 $0 $185,594
Mar $571 $696 $0 $185,024
Apr $573 $694 $0 $184,451
May $575 $692 $0 $183,876
Jun $577 $690 $0 $183,298
Jul $579 $687 $0 $182,719
Aug $582 $685 $0 $182,138
Sep $584 $683 $0 $181,554
Oct $586 $681 $0 $180,968
Nov $588 $679 $0 $180,380
Dec $590 $676 $0 $179,790
2037 $6,940 $8,261 $0 $179,790
Jan $593 $674 $0 $179,197
Feb $595 $672 $0 $178,602
Mar $597 $670 $0 $178,005
Apr $599 $668 $0 $177,406
May $601 $665 $0 $176,805
Jun $604 $663 $0 $176,201
Jul $606 $661 $0 $175,595
Aug $608 $658 $0 $174,987
Sep $611 $656 $0 $174,376
Oct $613 $654 $0 $173,764
Nov $615 $652 $0 $173,148
Dec $617 $649 $0 $172,531
2038 $7,259 $7,942 $0 $172,531
Jan $620 $647 $0 $171,911
Feb $622 $645 $0 $171,289
Mar $624 $642 $0 $170,665
Apr $627 $640 $0 $170,038
May $629 $638 $0 $169,409
Jun $631 $635 $0 $168,778
Jul $634 $633 $0 $168,144
Aug $636 $631 $0 $167,508
Sep $639 $628 $0 $166,869
Oct $641 $626 $0 $166,228
Nov $643 $623 $0 $165,585
Dec $646 $621 $0 $164,939
2039 $7,592 $7,609 $0 $164,939
Jan $648 $619 $0 $164,291
Feb $651 $616 $0 $163,640
Mar $653 $614 $0 $162,987
Apr $656 $611 $0 $162,332
May $658 $609 $0 $161,674
Jun $660 $606 $0 $161,013
Jul $663 $604 $0 $160,350
Aug $665 $601 $0 $159,685
Sep $668 $599 $0 $159,017
Oct $670 $596 $0 $158,347
Nov $673 $594 $0 $157,674
Dec $675 $591 $0 $156,998
2040 $7,941 $7,260 $0 $156,998
Jan $678 $589 $0 $156,320
Feb $681 $586 $0 $155,640
Mar $683 $584 $0 $154,957
Apr $686 $581 $0 $154,271
May $688 $579 $0 $153,583
Jun $691 $576 $0 $152,892
Jul $693 $573 $0 $152,199
Aug $696 $571 $0 $151,503
Sep $699 $568 $0 $150,804
Oct $701 $566 $0 $150,103
Nov $704 $563 $0 $149,399
Dec $706 $560 $0 $148,693
2041 $8,306 $6,895 $0 $148,693
Jan $709 $558 $0 $147,984
Feb $712 $555 $0 $147,272
Mar $714 $552 $0 $146,557
Apr $717 $550 $0 $145,840
May $720 $547 $0 $145,121
Jun $723 $544 $0 $144,398
Jul $725 $541 $0 $143,673
Aug $728 $539 $0 $142,945
Sep $731 $536 $0 $142,214
Oct $733 $533 $0 $141,481
Nov $736 $531 $0 $140,745
Dec $739 $528 $0 $140,006
2042 $8,687 $6,513 $0 $140,006
Jan $742 $525 $0 $139,264
Feb $744 $522 $0 $138,520
Mar $747 $519 $0 $137,772
Apr $750 $517 $0 $137,022
May $753 $514 $0 $136,269
Jun $756 $511 $0 $135,514
Jul $759 $508 $0 $134,755
Aug $761 $505 $0 $133,994
Sep $764 $502 $0 $133,229
Oct $767 $500 $0 $132,462
Nov $770 $497 $0 $131,692
Dec $773 $494 $0 $130,920
2043 $9,086 $6,114 $0 $130,920
Jan $776 $491 $0 $130,144
Feb $779 $488 $0 $129,365
Mar $782 $485 $0 $128,584
Apr $785 $482 $0 $127,799
May $787 $479 $0 $127,012
Jun $790 $476 $0 $126,221
Jul $793 $473 $0 $125,428
Aug $796 $470 $0 $124,631
Sep $799 $467 $0 $123,832
Oct $802 $464 $0 $123,030
Nov $805 $461 $0 $122,224
Dec $808 $458 $0 $121,416
2044 $9,504 $5,697 $0 $121,416
Jan $811 $455 $0 $120,605
Feb $814 $452 $0 $119,790
Mar $818 $449 $0 $118,973
Apr $821 $446 $0 $118,152
May $824 $443 $0 $117,328
Jun $827 $440 $0 $116,502
Jul $830 $437 $0 $115,672
Aug $833 $434 $0 $114,839
Sep $836 $431 $0 $114,003
Oct $839 $428 $0 $113,164
Nov $842 $424 $0 $112,321
Dec $846 $421 $0 $111,476
2045 $9,940 $5,260 $0 $111,476
Jan $849 $418 $0 $110,627
Feb $852 $415 $0 $109,775
Mar $855 $412 $0 $108,920
Apr $858 $408 $0 $108,062
May $861 $405 $0 $107,200
Jun $865 $402 $0 $106,336
Jul $868 $399 $0 $105,468
Aug $871 $396 $0 $104,597
Sep $874 $392 $0 $103,722
Oct $878 $389 $0 $102,844
Nov $881 $386 $0 $101,963
Dec $884 $382 $0 $101,079
2046 $10,397 $4,804 $0 $101,079
Jan $888 $379 $0 $100,191
Feb $891 $376 $0 $99,300
Mar $894 $372 $0 $98,406
Apr $898 $369 $0 $97,508
May $901 $366 $0 $96,607
Jun $904 $362 $0 $95,703
Jul $908 $359 $0 $94,795
Aug $911 $355 $0 $93,884
Sep $915 $352 $0 $92,969
Oct $918 $349 $0 $92,051
Nov $922 $345 $0 $91,129
Dec $925 $342 $0 $90,204
2047 $10,874 $4,326 $0 $90,204
Jan $928 $338 $0 $89,276
Feb $932 $335 $0 $88,344
Mar $935 $331 $0 $87,409
Apr $939 $328 $0 $86,470
May $942 $324 $0 $85,527
Jun $946 $321 $0 $84,581
Jul $950 $317 $0 $83,632
Aug $953 $314 $0 $82,679
Sep $957 $310 $0 $81,722
Oct $960 $306 $0 $80,762
Nov $964 $303 $0 $79,798
Dec $967 $299 $0 $78,830
2048 $11,374 $3,827 $0 $78,830
Jan $971 $296 $0 $77,859
Feb $975 $292 $0 $76,885
Mar $978 $288 $0 $75,906
Apr $982 $285 $0 $74,924
May $986 $281 $0 $73,938
Jun $989 $277 $0 $72,949
Jul $993 $274 $0 $71,956
Aug $997 $270 $0 $70,959
Sep $1,001 $266 $0 $69,958
Oct $1,004 $262 $0 $68,954
Nov $1,008 $259 $0 $67,946
Dec $1,012 $255 $0 $66,934
2049 $11,897 $3,304 $0 $66,934
Jan $1,016 $251 $0 $65,918
Feb $1,020 $247 $0 $64,899
Mar $1,023 $243 $0 $63,875
Apr $1,027 $240 $0 $62,848
May $1,031 $236 $0 $61,817
Jun $1,035 $232 $0 $60,782
Jul $1,039 $228 $0 $59,743
Aug $1,043 $224 $0 $58,701
Sep $1,047 $220 $0 $57,654
Oct $1,051 $216 $0 $56,604
Nov $1,054 $212 $0 $55,549
Dec $1,058 $208 $0 $54,491
2050 $12,443 $2,757 $0 $54,491
Jan $1,062 $204 $0 $53,428
Feb $1,066 $200 $0 $52,362
Mar $1,070 $196 $0 $51,292
Apr $1,074 $192 $0 $50,217
May $1,078 $188 $0 $49,139
Jun $1,082 $184 $0 $48,056
Jul $1,087 $180 $0 $46,970
Aug $1,091 $176 $0 $45,879
Sep $1,095 $172 $0 $44,785
Oct $1,099 $168 $0 $43,686
Nov $1,103 $164 $0 $42,583
Dec $1,107 $160 $0 $41,476
2051 $13,015 $2,186 $0 $41,476
Jan $1,111 $156 $0 $40,365
Feb $1,115 $151 $0 $39,249
Mar $1,120 $147 $0 $38,130
Apr $1,124 $143 $0 $37,006
May $1,128 $139 $0 $35,878
Jun $1,132 $135 $0 $34,746
Jul $1,136 $130 $0 $33,610
Aug $1,141 $126 $0 $32,469
Sep $1,145 $122 $0 $31,324
Oct $1,149 $117 $0 $30,175
Nov $1,154 $113 $0 $29,021
Dec $1,158 $109 $0 $27,863
2052 $13,613 $1,588 $0 $27,863
Jan $1,162 $104 $0 $26,701
Feb $1,167 $100 $0 $25,535
Mar $1,171 $96 $0 $24,364
Apr $1,175 $91 $0 $23,188
May $1,180 $87 $0 $22,008
Jun $1,184 $83 $0 $20,824
Jul $1,189 $78 $0 $19,636
Aug $1,193 $74 $0 $18,443
Sep $1,198 $69 $0 $17,245
Oct $1,202 $65 $0 $16,043
Nov $1,207 $60 $0 $14,836
Dec $1,211 $56 $0 $13,625
2053 $14,238 $963 $0 $13,625
Jan $1,216 $51 $0 $12,410
Feb $1,220 $47 $0 $11,190
Mar $1,225 $42 $0 $9,965
Apr $1,229 $37 $0 $8,735
May $1,234 $33 $0 $7,502
Jun $1,239 $28 $0 $6,263
Jul $1,243 $23 $0 $5,020
Aug $1,248 $19 $0 $3,772
Sep $1,253 $14 $0 $2,519
Oct $1,257 $9 $0 $1,262
Nov $1,262 $5 $0 $0
2054 $13,625 $308 $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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