What will my mortgage payment be?
Estimate your mortgage payment, including taxes, insurance, and other monthly costs. Enter your home’s price and down payment to see a breakdown of your mortgage payments. By adjusting these numbers, you can see how different factors, like down payment or HOA fees, impact your overall monthly payment.
Mortgage Calculator Definitions
Home Price: Enter the purchase price. This could either be the price on the listing or the amount you will offer.
Down Payment: This is the amount of money you will pay up front for the home. A higher down payment will lower the monthly payment. Make sure your down payment meets any minimum required by the lender.
Interest Rate: This number is based on current average mortgage rate, but may vary depending on your financial situation, credit score, down payment, or lender.
Loan Term: This is how long it will take you to pay off the home loan.
HOA/mo: This field can be used to include any Home Owners Association (HOA) fees or other monthly fees for the property.
Home Insurance: Insurance is often required by lenders. You can remove this from the calculation by clicking the box labeled “Remove Mortgage Insurance.”
Property Tax: Property tax is estimated based on the home’s value. You can edit this number.