Mortgage Calculator: Estimate Your Monthly Payment
Home Loan Assistance
Welcome to the Loan Center! Are you looking to buy a home? Here, you can use our online tools to learn more about home loans and find the best loan options to suit your needs and goals. You can explore our site without any obligation or disclosure of personal information, or if you want, you can even begin the application process online!
At any point, feel free to e-mail or call us regarding any questions you may have. You can find our contact information at the bottom of each page. We are here to personally help you through the entire home financing process.
Mortgage and Housing Cost Calculator
Disclaimer: Calculations are for estimation only and aren’t a credit decision or commitment to lend. Your actual rate and payment depend on verified credit, income, program, and appraisal. Contact us for a personalized quote.
How to use this calculator
- Purchase Price: Enter the home’s price (list price or your target offer).
- Mortgage Term: Choose a term: 5, 10, 15, 20, 25, or 30 years. Most borrowers pick 30-year or 15-year fixed—shorter terms raise the monthly payment but reduce total interest.
- Down Payment ($): Type a dollar amount. If testing percentages (e.g., 5%, 10%, 20%), multiply by price to get the $ amount and see how PMI/payment change.
- Annual Taxes ($): If unsure, estimate using a local rate; a simple placeholder is ~1% of the home value per year.
- Interest Rate (%): Use today’s estimate. If unsure, round to the nearest 0.125% (e.g., 6.75%).
- Annual Insurance ($): If unknown, start with $1,000–$1,800/year and refine later.
- Monthly HOA ($): Enter monthly dues (or $0 if none).
- Calculate & review: Click Calculate to see the estimated payment and the breakdown for Principal & Interest, Taxes, Insurance, and HOA.
Pro tips
- Percent vs. dollars: Think in % first, then convert to exact $ for Down Payment and Taxes.
- Local variation: Taxes & insurance are estimates and vary by address; they’re refined during underwriting.
- Term trade-off: Shorter terms save interest overall; longer terms lower monthly payments.
Estimates are for educational purposes only and aren’t a commitment to lend. Actual payments, taxes, insurance, and HOA may differ.