Mortgage Calculator

Calculating your mortgage payment is a complex process that takes into consideration a variety of factors such as interest rates, mortgage insurance, and HOA fees among others. With the mortgage calculator, you can easily find out your monthly payment by inputting information such as the home price, down payment, interest rate, and potential HOA fees.

$
$ %
TAXES, INS, HOA & PMI

$ % / yr
$ % / yr
$ % / yr
%
 

$1,122.61

Monthly Principal & Interest
 

$1,585.11

Total Monthly Payment
 

80.00%

Loan-To-Value Ratio (LTV)
 
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Apr, 2021 Mar, 2051
Loan Closing Loan Payoff


  Monthly Annual Total of 360 Payments
Principal $393 — $1,119 $3,348 — $13,104 $250,000
Interest $3 — $729 $20 — $8,546 $154,140
Property Taxes $187.50 $2,250 $67,500
Home Insurance $125.00 $1,500 $45,000
HOA Fees $150.00 $1,800 $54,000
PMI $0.00 $0 $0
Principal & Interest $1,122.61 $13,471 $404,140
PITI $1,435.11 $17,221 $516,640
Total $1,585.11 $19,021 $570,640

Amortization Schedule

Date Interest Principal Prop Taxes Home Ins HOA Fees Balance
Apr, 2021 $729 $393 $188 $125 $150 $249,607
May, 2021 $728 $395 $188 $125 $150 $249,212
Jun, 2021 $727 $396 $188 $125 $150 $248,816
Jul, 2021 $726 $397 $188 $125 $150 $248,419
Aug, 2021 $725 $398 $188 $125 $150 $248,021
Sep, 2021 $723 $399 $188 $125 $150 $247,622
Oct, 2021 $722 $400 $188 $125 $150 $247,222
Nov, 2021 $721 $402 $188 $125 $150 $246,820
Dec, 2021 $720 $403 $188 $125 $150 $246,417
2021 $6,521 $3,583 $1,688 $1,125 $1,350 $246,417
Jan, 2022 $719 $404 $188 $125 $150 $246,014
Feb, 2022 $718 $405 $188 $125 $150 $245,608
Mar, 2022 $716 $406 $188 $125 $150 $245,202
Apr, 2022 $715 $407 $188 $125 $150 $244,795
May, 2022 $714 $409 $188 $125 $150 $244,386
Jun, 2022 $713 $410 $188 $125 $150 $243,976
Jul, 2022 $712 $411 $188 $125 $150 $243,565
Aug, 2022 $710 $412 $188 $125 $150 $243,153
Sep, 2022 $709 $413 $188 $125 $150 $242,740
Oct, 2022 $708 $415 $188 $125 $150 $242,325
Nov, 2022 $707 $416 $188 $125 $150 $241,909
Dec, 2022 $706 $417 $188 $125 $150 $241,492
2022 $8,546 $4,925 $2,250 $1,500 $1,800 $241,492
Jan, 2023 $704 $418 $188 $125 $150 $241,074
Feb, 2023 $703 $419 $188 $125 $150 $240,654
Mar, 2023 $702 $421 $188 $125 $150 $240,234
Apr, 2023 $701 $422 $188 $125 $150 $239,812
May, 2023 $699 $423 $188 $125 $150 $239,389
Jun, 2023 $698 $424 $188 $125 $150 $238,964
Jul, 2023 $697 $426 $188 $125 $150 $238,539
Aug, 2023 $696 $427 $188 $125 $150 $238,112
Sep, 2023 $694 $428 $188 $125 $150 $237,684
Oct, 2023 $693 $429 $188 $125 $150 $237,254
Nov, 2023 $692 $431 $188 $125 $150 $236,824
Dec, 2023 $691 $432 $188 $125 $150 $236,392
2023 $8,371 $5,100 $2,250 $1,500 $1,800 $236,392
Jan, 2024 $689 $433 $188 $125 $150 $235,959
Feb, 2024 $688 $434 $188 $125 $150 $235,524
Mar, 2024 $687 $436 $188 $125 $150 $235,089
Apr, 2024 $686 $437 $188 $125 $150 $234,652
May, 2024 $684 $438 $188 $125 $150 $234,213
Jun, 2024 $683 $439 $188 $125 $150 $233,774
Jul, 2024 $682 $441 $188 $125 $150 $233,333
Aug, 2024 $681 $442 $188 $125 $150 $232,891
Sep, 2024 $679 $443 $188 $125 $150 $232,448
Oct, 2024 $678 $445 $188 $125 $150 $232,003
Nov, 2024 $677 $446 $188 $125 $150 $231,557
Dec, 2024 $675 $447 $188 $125 $150 $231,110
2024 $8,190 $5,282 $2,250 $1,500 $1,800 $231,110
Jan, 2025 $674 $449 $188 $125 $150 $230,661
Feb, 2025 $673 $450 $188 $125 $150 $230,212
Mar, 2025 $671 $451 $188 $125 $150 $229,760
Apr, 2025 $670 $452 $188 $125 $150 $229,308
May, 2025 $669 $454 $188 $125 $150 $228,854
Jun, 2025 $667 $455 $188 $125 $150 $228,399
Jul, 2025 $666 $456 $188 $125 $150 $227,943
Aug, 2025 $665 $458 $188 $125 $150 $227,485
Sep, 2025 $663 $459 $188 $125 $150 $227,026
Oct, 2025 $662 $460 $188 $125 $150 $226,565
Nov, 2025 $661 $462 $188 $125 $150 $226,103
Dec, 2025 $659 $463 $188 $125 $150 $225,640
2025 $8,002 $5,470 $2,250 $1,500 $1,800 $225,640
Jan, 2026 $658 $464 $188 $125 $150 $225,176
Feb, 2026 $657 $466 $188 $125 $150 $224,710
Mar, 2026 $655 $467 $188 $125 $150 $224,243
Apr, 2026 $654 $469 $188 $125 $150 $223,774
May, 2026 $653 $470 $188 $125 $150 $223,304
Jun, 2026 $651 $471 $188 $125 $150 $222,833
Jul, 2026 $650 $473 $188 $125 $150 $222,360
Aug, 2026 $649 $474 $188 $125 $150 $221,886
Sep, 2026 $647 $475 $188 $125 $150 $221,411
Oct, 2026 $646 $477 $188 $125 $150 $220,934
Nov, 2026 $644 $478 $188 $125 $150 $220,456
Dec, 2026 $643 $480 $188 $125 $150 $219,976
2026 $7,807 $5,664 $2,250 $1,500 $1,800 $219,976
Jan, 2027 $642 $481 $188 $125 $150 $219,495
Feb, 2027 $640 $482 $188 $125 $150 $219,013
Mar, 2027 $639 $484 $188 $125 $150 $218,529
Apr, 2027 $637 $485 $188 $125 $150 $218,044
May, 2027 $636 $487 $188 $125 $150 $217,557
Jun, 2027 $635 $488 $188 $125 $150 $217,069
Jul, 2027 $633 $489 $188 $125 $150 $216,579
Aug, 2027 $632 $491 $188 $125 $150 $216,088
Sep, 2027 $630 $492 $188 $125 $150 $215,596
Oct, 2027 $629 $494 $188 $125 $150 $215,102
Nov, 2027 $627 $495 $188 $125 $150 $214,607
Dec, 2027 $626 $497 $188 $125 $150 $214,110
2027 $7,606 $5,866 $2,250 $1,500 $1,800 $214,110
Jan, 2028 $624 $498 $188 $125 $150 $213,612
Feb, 2028 $623 $500 $188 $125 $150 $213,113
Mar, 2028 $622 $501 $188 $125 $150 $212,612
Apr, 2028 $620 $502 $188 $125 $150 $212,109
May, 2028 $619 $504 $188 $125 $150 $211,605
Jun, 2028 $617 $505 $188 $125 $150 $211,100
Jul, 2028 $616 $507 $188 $125 $150 $210,593
Aug, 2028 $614 $508 $188 $125 $150 $210,084
Sep, 2028 $613 $510 $188 $125 $150 $209,575
Oct, 2028 $611 $511 $188 $125 $150 $209,063
Nov, 2028 $610 $513 $188 $125 $150 $208,550
Dec, 2028 $608 $514 $188 $125 $150 $208,036
2028 $7,397 $6,074 $2,250 $1,500 $1,800 $208,036
Jan, 2029 $607 $516 $188 $125 $150 $207,520
Feb, 2029 $605 $517 $188 $125 $150 $207,003
Mar, 2029 $604 $519 $188 $125 $150 $206,484
Apr, 2029 $602 $520 $188 $125 $150 $205,964
May, 2029 $601 $522 $188 $125 $150 $205,442
Jun, 2029 $599 $523 $188 $125 $150 $204,918
Jul, 2029 $598 $525 $188 $125 $150 $204,393
Aug, 2029 $596 $526 $188 $125 $150 $203,867
Sep, 2029 $595 $528 $188 $125 $150 $203,339
Oct, 2029 $593 $530 $188 $125 $150 $202,809
Nov, 2029 $592 $531 $188 $125 $150 $202,278
Dec, 2029 $590 $533 $188 $125 $150 $201,746
2029 $7,181 $6,290 $2,250 $1,500 $1,800 $201,746
Jan, 2030 $588 $534 $188 $125 $150 $201,211
Feb, 2030 $587 $536 $188 $125 $150 $200,676
Mar, 2030 $585 $537 $188 $125 $150 $200,138
Apr, 2030 $584 $539 $188 $125 $150 $199,600
May, 2030 $582 $540 $188 $125 $150 $199,059
Jun, 2030 $581 $542 $188 $125 $150 $198,517
Jul, 2030 $579 $544 $188 $125 $150 $197,973
Aug, 2030 $577 $545 $188 $125 $150 $197,428
Sep, 2030 $576 $547 $188 $125 $150 $196,882
Oct, 2030 $574 $548 $188 $125 $150 $196,333
Nov, 2030 $573 $550 $188 $125 $150 $195,783
Dec, 2030 $571 $552 $188 $125 $150 $195,232
2030 $6,957 $6,514 $2,250 $1,500 $1,800 $195,232
Jan, 2031 $569 $553 $188 $125 $150 $194,678
Feb, 2031 $568 $555 $188 $125 $150 $194,124
Mar, 2031 $566 $556 $188 $125 $150 $193,567
Apr, 2031 $565 $558 $188 $125 $150 $193,009
May, 2031 $563 $560 $188 $125 $150 $192,449
Jun, 2031 $561 $561 $188 $125 $150 $191,888
Jul, 2031 $560 $563 $188 $125 $150 $191,325
Aug, 2031 $558 $565 $188 $125 $150 $190,761
Sep, 2031 $556 $566 $188 $125 $150 $190,194
Oct, 2031 $555 $568 $188 $125 $150 $189,627
Nov, 2031 $553 $570 $188 $125 $150 $189,057
Dec, 2031 $551 $571 $188 $125 $150 $188,486
2031 $6,726 $6,746 $2,250 $1,500 $1,800 $188,486
Jan, 2032 $550 $573 $188 $125 $150 $187,913
Feb, 2032 $548 $575 $188 $125 $150 $187,338
Mar, 2032 $546 $576 $188 $125 $150 $186,762
Apr, 2032 $545 $578 $188 $125 $150 $186,184
May, 2032 $543 $580 $188 $125 $150 $185,605
Jun, 2032 $541 $581 $188 $125 $150 $185,023
Jul, 2032 $540 $583 $188 $125 $150 $184,441
Aug, 2032 $538 $585 $188 $125 $150 $183,856
Sep, 2032 $536 $586 $188 $125 $150 $183,270
Oct, 2032 $535 $588 $188 $125 $150 $182,681
Nov, 2032 $533 $590 $188 $125 $150 $182,092
Dec, 2032 $531 $592 $188 $125 $150 $181,500
2032 $6,486 $6,986 $2,250 $1,500 $1,800 $181,500
Jan, 2033 $529 $593 $188 $125 $150 $180,907
Feb, 2033 $528 $595 $188 $125 $150 $180,312
Mar, 2033 $526 $597 $188 $125 $150 $179,715
Apr, 2033 $524 $598 $188 $125 $150 $179,117
May, 2033 $522 $600 $188 $125 $150 $178,517
Jun, 2033 $521 $602 $188 $125 $150 $177,915
Jul, 2033 $519 $604 $188 $125 $150 $177,311
Aug, 2033 $517 $605 $188 $125 $150 $176,706
Sep, 2033 $515 $607 $188 $125 $150 $176,098
Oct, 2033 $514 $609 $188 $125 $150 $175,489
Nov, 2033 $512 $611 $188 $125 $150 $174,879
Dec, 2033 $510 $613 $188 $125 $150 $174,266
2033 $6,237 $7,234 $2,250 $1,500 $1,800 $174,266
Jan, 2034 $508 $614 $188 $125 $150 $173,652
Feb, 2034 $506 $616 $188 $125 $150 $173,036
Mar, 2034 $505 $618 $188 $125 $150 $172,418
Apr, 2034 $503 $620 $188 $125 $150 $171,798
May, 2034 $501 $622 $188 $125 $150 $171,176
Jun, 2034 $499 $623 $188 $125 $150 $170,553
Jul, 2034 $497 $625 $188 $125 $150 $169,928
Aug, 2034 $496 $627 $188 $125 $150 $169,301
Sep, 2034 $494 $629 $188 $125 $150 $168,672
Oct, 2034 $492 $631 $188 $125 $150 $168,041
Nov, 2034 $490 $632 $188 $125 $150 $167,409
Dec, 2034 $488 $634 $188 $125 $150 $166,775
2034 $5,980 $7,491 $2,250 $1,500 $1,800 $166,775
Jan, 2035 $486 $636 $188 $125 $150 $166,138
Feb, 2035 $485 $638 $188 $125 $150 $165,500
Mar, 2035 $483 $640 $188 $125 $150 $164,860
Apr, 2035 $481 $642 $188 $125 $150 $164,219
May, 2035 $479 $644 $188 $125 $150 $163,575
Jun, 2035 $477 $646 $188 $125 $150 $162,929
Jul, 2035 $475 $647 $188 $125 $150 $162,282
Aug, 2035 $473 $649 $188 $125 $150 $161,633
Sep, 2035 $471 $651 $188 $125 $150 $160,982
Oct, 2035 $470 $653 $188 $125 $150 $160,329
Nov, 2035 $468 $655 $188 $125 $150 $159,674
Dec, 2035 $466 $657 $188 $125 $150 $159,017
2035 $5,713 $7,758 $2,250 $1,500 $1,800 $159,017
Jan, 2036 $464 $659 $188 $125 $150 $158,358
Feb, 2036 $462 $661 $188 $125 $150 $157,697
Mar, 2036 $460 $663 $188 $125 $150 $157,034
Apr, 2036 $458 $665 $188 $125 $150 $156,370
May, 2036 $456 $667 $188 $125 $150 $155,703
Jun, 2036 $454 $668 $188 $125 $150 $155,035
Jul, 2036 $452 $670 $188 $125 $150 $154,364
Aug, 2036 $450 $672 $188 $125 $150 $153,692
Sep, 2036 $448 $674 $188 $125 $150 $153,018
Oct, 2036 $446 $676 $188 $125 $150 $152,341
Nov, 2036 $444 $678 $188 $125 $150 $151,663
Dec, 2036 $442 $680 $188 $125 $150 $150,983
2036 $5,438 $8,034 $2,250 $1,500 $1,800 $150,983
Jan, 2037 $440 $682 $188 $125 $150 $150,301
Feb, 2037 $438 $684 $188 $125 $150 $149,616
Mar, 2037 $436 $686 $188 $125 $150 $148,930
Apr, 2037 $434 $688 $188 $125 $150 $148,242
May, 2037 $432 $690 $188 $125 $150 $147,552
Jun, 2037 $430 $692 $188 $125 $150 $146,859
Jul, 2037 $428 $694 $188 $125 $150 $146,165
Aug, 2037 $426 $696 $188 $125 $150 $145,469
Sep, 2037 $424 $698 $188 $125 $150 $144,770
Oct, 2037 $422 $700 $188 $125 $150 $144,070
Nov, 2037 $420 $702 $188 $125 $150 $143,368
Dec, 2037 $418 $704 $188 $125 $150 $142,663
2037 $5,152 $8,320 $2,250 $1,500 $1,800 $142,663
Jan, 2038 $416 $707 $188 $125 $150 $141,957
Feb, 2038 $414 $709 $188 $125 $150 $141,248
Mar, 2038 $412 $711 $188 $125 $150 $140,538
Apr, 2038 $410 $713 $188 $125 $150 $139,825
May, 2038 $408 $715 $188 $125 $150 $139,110
Jun, 2038 $406 $717 $188 $125 $150 $138,393
Jul, 2038 $404 $719 $188 $125 $150 $137,674
Aug, 2038 $402 $721 $188 $125 $150 $136,953
Sep, 2038 $399 $723 $188 $125 $150 $136,230
Oct, 2038 $397 $725 $188 $125 $150 $135,505
Nov, 2038 $395 $727 $188 $125 $150 $134,777
Dec, 2038 $393 $730 $188 $125 $150 $134,048
2038 $4,856 $8,615 $2,250 $1,500 $1,800 $134,048
Jan, 2039 $391 $732 $188 $125 $150 $133,316
Feb, 2039 $389 $734 $188 $125 $150 $132,582
Mar, 2039 $387 $736 $188 $125 $150 $131,846
Apr, 2039 $385 $738 $188 $125 $150 $131,108
May, 2039 $382 $740 $188 $125 $150 $130,368
Jun, 2039 $380 $742 $188 $125 $150 $129,626
Jul, 2039 $378 $745 $188 $125 $150 $128,881
Aug, 2039 $376 $747 $188 $125 $150 $128,135
Sep, 2039 $374 $749 $188 $125 $150 $127,386
Oct, 2039 $372 $751 $188 $125 $150 $126,635
Nov, 2039 $369 $753 $188 $125 $150 $125,881
Dec, 2039 $367 $755 $188 $125 $150 $125,126
2039 $4,549 $8,922 $2,250 $1,500 $1,800 $125,126
Jan, 2040 $365 $758 $188 $125 $150 $124,368
Feb, 2040 $363 $760 $188 $125 $150 $123,608
Mar, 2040 $361 $762 $188 $125 $150 $122,846
Apr, 2040 $358 $764 $188 $125 $150 $122,082
May, 2040 $356 $767 $188 $125 $150 $121,315
Jun, 2040 $354 $769 $188 $125 $150 $120,547
Jul, 2040 $352 $771 $188 $125 $150 $119,776
Aug, 2040 $349 $773 $188 $125 $150 $119,002
Sep, 2040 $347 $776 $188 $125 $150 $118,227
Oct, 2040 $345 $778 $188 $125 $150 $117,449
Nov, 2040 $343 $780 $188 $125 $150 $116,669
Dec, 2040 $340 $782 $188 $125 $150 $115,887
2040 $4,232 $9,239 $2,250 $1,500 $1,800 $115,887
Jan, 2041 $338 $785 $188 $125 $150 $115,102
Feb, 2041 $336 $787 $188 $125 $150 $114,315
Mar, 2041 $333 $789 $188 $125 $150 $113,526
Apr, 2041 $331 $791 $188 $125 $150 $112,735
May, 2041 $329 $794 $188 $125 $150 $111,941
Jun, 2041 $326 $796 $188 $125 $150 $111,145
Jul, 2041 $324 $798 $188 $125 $150 $110,346
Aug, 2041 $322 $801 $188 $125 $150 $109,545
Sep, 2041 $320 $803 $188 $125 $150 $108,742
Oct, 2041 $317 $805 $188 $125 $150 $107,937
Nov, 2041 $315 $808 $188 $125 $150 $107,129
Dec, 2041 $312 $810 $188 $125 $150 $106,319
2041 $3,904 $9,568 $2,250 $1,500 $1,800 $106,319
Jan, 2042 $310 $813 $188 $125 $150 $105,506
Feb, 2042 $308 $815 $188 $125 $150 $104,691
Mar, 2042 $305 $817 $188 $125 $150 $103,874
Apr, 2042 $303 $820 $188 $125 $150 $103,055
May, 2042 $301 $822 $188 $125 $150 $102,233
Jun, 2042 $298 $824 $188 $125 $150 $101,408
Jul, 2042 $296 $827 $188 $125 $150 $100,581
Aug, 2042 $293 $829 $188 $125 $150 $99,752
Sep, 2042 $291 $832 $188 $125 $150 $98,920
Oct, 2042 $289 $834 $188 $125 $150 $98,086
Nov, 2042 $286 $837 $188 $125 $150 $97,250
Dec, 2042 $284 $839 $188 $125 $150 $96,411
2042 $3,563 $9,908 $2,250 $1,500 $1,800 $96,411
Jan, 2043 $281 $841 $188 $125 $150 $95,569
Feb, 2043 $279 $844 $188 $125 $150 $94,725
Mar, 2043 $276 $846 $188 $125 $150 $93,879
Apr, 2043 $274 $849 $188 $125 $150 $93,030
May, 2043 $271 $851 $188 $125 $150 $92,179
Jun, 2043 $269 $854 $188 $125 $150 $91,325
Jul, 2043 $266 $856 $188 $125 $150 $90,469
Aug, 2043 $264 $859 $188 $125 $150 $89,610
Sep, 2043 $261 $861 $188 $125 $150 $88,749
Oct, 2043 $259 $864 $188 $125 $150 $87,885
Nov, 2043 $256 $866 $188 $125 $150 $87,019
Dec, 2043 $254 $869 $188 $125 $150 $86,150
2043 $3,211 $10,261 $2,250 $1,500 $1,800 $86,150
Jan, 2044 $251 $871 $188 $125 $150 $85,279
Feb, 2044 $249 $874 $188 $125 $150 $84,405
Mar, 2044 $246 $876 $188 $125 $150 $83,529
Apr, 2044 $244 $879 $188 $125 $150 $82,650
May, 2044 $241 $882 $188 $125 $150 $81,768
Jun, 2044 $238 $884 $188 $125 $150 $80,884
Jul, 2044 $236 $887 $188 $125 $150 $79,997
Aug, 2044 $233 $889 $188 $125 $150 $79,108
Sep, 2044 $231 $892 $188 $125 $150 $78,216
Oct, 2044 $228 $894 $188 $125 $150 $77,322
Nov, 2044 $226 $897 $188 $125 $150 $76,424
Dec, 2044 $223 $900 $188 $125 $150 $75,525
2044 $2,846 $10,625 $2,250 $1,500 $1,800 $75,525
Jan, 2045 $220 $902 $188 $125 $150 $74,622
Feb, 2045 $218 $905 $188 $125 $150 $73,717
Mar, 2045 $215 $908 $188 $125 $150 $72,810
Apr, 2045 $212 $910 $188 $125 $150 $71,900
May, 2045 $210 $913 $188 $125 $150 $70,987
Jun, 2045 $207 $916 $188 $125 $150 $70,071
Jul, 2045 $204 $918 $188 $125 $150 $69,153
Aug, 2045 $202 $921 $188 $125 $150 $68,232
Sep, 2045 $199 $924 $188 $125 $150 $67,308
Oct, 2045 $196 $926 $188 $125 $150 $66,382
Nov, 2045 $194 $929 $188 $125 $150 $65,453
Dec, 2045 $191 $932 $188 $125 $150 $64,521
2045 $2,468 $11,003 $2,250 $1,500 $1,800 $64,521
Jan, 2046 $188 $934 $188 $125 $150 $63,587
Feb, 2046 $185 $937 $188 $125 $150 $62,650
Mar, 2046 $183 $940 $188 $125 $150 $61,710
Apr, 2046 $180 $943 $188 $125 $150 $60,767
May, 2046 $177 $945 $188 $125 $150 $59,822
Jun, 2046 $174 $948 $188 $125 $150 $58,874
Jul, 2046 $172 $951 $188 $125 $150 $57,923
Aug, 2046 $169 $954 $188 $125 $150 $56,969
Sep, 2046 $166 $956 $188 $125 $150 $56,013
Oct, 2046 $163 $959 $188 $125 $150 $55,054
Nov, 2046 $161 $962 $188 $125 $150 $54,092
Dec, 2046 $158 $965 $188 $125 $150 $53,127
2046 $2,077 $11,395 $2,250 $1,500 $1,800 $53,127
Jan, 2047 $155 $968 $188 $125 $150 $52,159
Feb, 2047 $152 $970 $188 $125 $150 $51,189
Mar, 2047 $149 $973 $188 $125 $150 $50,215
Apr, 2047 $146 $976 $188 $125 $150 $49,239
May, 2047 $144 $979 $188 $125 $150 $48,260
Jun, 2047 $141 $982 $188 $125 $150 $47,278
Jul, 2047 $138 $985 $188 $125 $150 $46,294
Aug, 2047 $135 $988 $188 $125 $150 $45,306
Sep, 2047 $132 $990 $188 $125 $150 $44,315
Oct, 2047 $129 $993 $188 $125 $150 $43,322
Nov, 2047 $126 $996 $188 $125 $150 $42,326
Dec, 2047 $123 $999 $188 $125 $150 $41,327
2047 $1,671 $11,800 $2,250 $1,500 $1,800 $41,327
Jan, 2048 $121 $1,002 $188 $125 $150 $40,325
Feb, 2048 $118 $1,005 $188 $125 $150 $39,320
Mar, 2048 $115 $1,008 $188 $125 $150 $38,312
Apr, 2048 $112 $1,011 $188 $125 $150 $37,301
May, 2048 $109 $1,014 $188 $125 $150 $36,287
Jun, 2048 $106 $1,017 $188 $125 $150 $35,270
Jul, 2048 $103 $1,020 $188 $125 $150 $34,250
Aug, 2048 $100 $1,023 $188 $125 $150 $33,228
Sep, 2048 $97 $1,026 $188 $125 $150 $32,202
Oct, 2048 $94 $1,029 $188 $125 $150 $31,173
Nov, 2048 $91 $1,032 $188 $125 $150 $30,142
Dec, 2048 $88 $1,035 $188 $125 $150 $29,107
2048 $1,252 $12,220 $2,250 $1,500 $1,800 $29,107
Jan, 2049 $85 $1,038 $188 $125 $150 $28,069
Feb, 2049 $82 $1,041 $188 $125 $150 $27,029
Mar, 2049 $79 $1,044 $188 $125 $150 $25,985
Apr, 2049 $76 $1,047 $188 $125 $150 $24,938
May, 2049 $73 $1,050 $188 $125 $150 $23,888
Jun, 2049 $70 $1,053 $188 $125 $150 $22,835
Jul, 2049 $67 $1,056 $188 $125 $150 $21,779
Aug, 2049 $64 $1,059 $188 $125 $150 $20,720
Sep, 2049 $60 $1,062 $188 $125 $150 $19,658
Oct, 2049 $57 $1,065 $188 $125 $150 $18,593
Nov, 2049 $54 $1,068 $188 $125 $150 $17,524
Dec, 2049 $51 $1,071 $188 $125 $150 $16,453
2049 $817 $12,654 $2,250 $1,500 $1,800 $16,453
Jan, 2050 $48 $1,075 $188 $125 $150 $15,378
Feb, 2050 $45 $1,078 $188 $125 $150 $14,300
Mar, 2050 $42 $1,081 $188 $125 $150 $13,219
Apr, 2050 $39 $1,084 $188 $125 $150 $12,135
May, 2050 $35 $1,087 $188 $125 $150 $11,048
Jun, 2050 $32 $1,090 $188 $125 $150 $9,958
Jul, 2050 $29 $1,094 $188 $125 $150 $8,864
Aug, 2050 $26 $1,097 $188 $125 $150 $7,767
Sep, 2050 $23 $1,100 $188 $125 $150 $6,667
Oct, 2050 $19 $1,103 $188 $125 $150 $5,564
Nov, 2050 $16 $1,106 $188 $125 $150 $4,458
Dec, 2050 $13 $1,110 $188 $125 $150 $3,348
2050 $367 $13,104 $2,250 $1,500 $1,800 $3,348
Jan, 2051 $10 $1,113 $188 $125 $150 $2,235
Feb, 2051 $7 $1,116 $188 $125 $150 $1,119
Mar, 2051 $3 $1,119 $188 $125 $150 $0
2051 $20 $3,348 $563 $375 $450 $0

Frequently Asked Questions

What is a mortgage?

A mortgage is a type of loan you use to buy a home or to refinance your existing home. By getting a mortgage, you do not need to pay the entire price of the property in one full payment but agree to make payments on that loan for a set number of years until the value of the home is paid off.

How to get a mortgage?

A mortgage can be obtained through a financial institution such as a bank, credit union, or specialized mortgage lender. You can get pre-qualified for a mortgage or apply at a time you are ready to buy. The lender will check your credit score and history and employment history to make their decision.

How much mortgage can I afford?

Determining how much mortgage you can afford depends on a variety of factors such as your income, expenses, credit history, and existing debt. By taking into account all of those numbers, you can easily calculate how much of a mortgage payment you can afford at your current income.

What is mortgage insurance?

Mortgage insurance is an insurance policy that is designed to protect the lender if the borrower is not able to meet their contractual obligations of making regular payments or defaults on a loan. The private mortgage insurance offsets the losses the lender might face and reduces risk.

What are the points on a mortgage?

Points are fees paid to a lender upfront in exchange for a lower interest rate on your mortgage loan. The lender agrees to reduce the closing costs of purchasing the property in exchange for a higher interest rate. If you purchase “discount points” your closing costs will be higher, but the interest rate lower for the life of the loan.

How to calculate a mortgage payment?

There is a complex formula that allows you to calculate your mortgage loan. The formula is as follows:
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]
M= Mortgage
P= Principal amount
I= Monthly interest rate (yearly rate divided by 12 months)
N= Number of monthly payments for the duration of the loan (15 years x 12 months = 180 payments)
We recommend using a mortgage calculator to easily calculate your mortgage payment.

What is a jumbo mortgage/loan?

A jumbo mortgage, commonly referred to as a jumbo loan, is used to finance amounts higher than the conventional loan limit. The amount financed is higher than the loan limit set by the Federal Housing Finance Agency.

How to pay off a mortgage faster?

There are quite a few ways in which one can pay off their mortgage earlier than their set loan date. One of the most obvious ways is paying a higher amount on your mortgage than has been calculated and therefore reducing the amount of interest you pay in the long run. Another way to pay off a mortgage faster is to make your loan payment bi-weekly, resulting in an additional payment in a year.

What is an FHA loan?

An FHA loan is a mortgage loan that is insured by the Federal Housing Association. An FHA loan allows for individuals to close on a property with a down payment as low as 3.5%. FHA loans are considered a type of federal assistance for first time and returning home buyers.

What is a home equity loan?

A home equity loan uses the value of your current property as collateral. A home equity loan is issued as a lump-sum and is determined based on the current value of your home. The value is decided by an appraiser from the lending institution your loan will be provided by.

What is a conventional loan/mortgage?

A conventional loan is not backed by a government agency such as the FHA and is in turn solely provided by a private lender. This loan is not insured by the government and therefore may have stricter qualification requirements.

Definitions

Home Price

The home price is the cost of the property that the homebuyer decides to purchase. Home price varies by location, size of the home, and land, as well as the quality of the home and improvements made to the property. Home prices also fluctuate with the real estate market. The price of the house will determine the mortgage loan amount as well as the down payment.

Down Payment

A down payment is a percentage of the value of the home that is made upfront in a lump-sum cash payment. The down payment when purchasing a home varies depending on the price of the home and the financial ability of the homebuyer to pay. The standard down payment percentage is 20%, however, certain loans allow for a down payment much lower than that, in some cases as low as 0% (VA Loan) or 3.5% (FHA Loan).

Interest Rate

Interest rate, also known as a mortgage rate, is the rate of interest that is charged on the mortgage. The interest rate on a home loan can be fixed or variable, fluctuating with the current mortgage rates. Mortgage rates will vary for each borrower as they are heavily influenced by the homebuyer’s credit profile. As mortgage rates fluctuate with the real estate market, you can refinance your loan at a lower interest rate at a point in the loan term.

Loan Term

The loan term is the number of years you will be making your monthly mortgage payments towards your loan. The loan term may change during the loan life depending on whether the buyer decides to refinance the loan, make additional payments, or make more than the minimum monthly payment. Loan terms depend on the lender, interest rate, and the preference of the home buyer.

Property Taxes

Property taxes are paid by the owner of a home or property and are collected by the local government to fund services such as law enforcement, highway construction, and education. Property taxes are based on the value of the property including the land. Property taxes are calculated by the local government where the home is located.

Home Insurance

Home insurance is a type of property insurance that covers the losses and potential damages that your residence may face. The homeowner insurance, similarly to car insurance, provides liability coverage in case of an accident that may impact the residence or property. This type of insurance covers both the exterior damage to the property as well as damage to the interior and assets such as furniture. Home insurance is not the same thing as Private Mortgage Insurance and they serve different functions.

HOA Fees

Homeowners Association Fee, typically referred to as HOA fee, is a sum of money paid monthly by homeowners in certain types of properties such as condominiums and townhouse residences. These fees are collected to offset the cost of maintaining the building, facilities, and common areas such as a pool or fitness center. Some HOA fees even cover garbage disposal and utilities such as water and sewer fees. HOA is also required to have reserved funds for emergency high-cost expenses such as roof repair or potential property damage from a natural disaster.

PMI

If the buyer decides to put down less than the standard 20% down payment recommended, they are required to purchase Private Mortgage Insurance (PMI). Private mortgage insurance is a percentage of the loan amount. When a buyer decides to have a down payment lesser than 20% the loan to value ratio is higher than 80%, therefore presenting a higher risk for the lender. PMI reduces that risk for the lender. Homeowners are required to have PMI until they pay off 20% of the value of the property.

LTV (Loan-To-Value)

Loan-To-Value is an assessment of lending risk that lenders use to determine whether or not they will approve the mortgage loan for a potential home buyer. Loan assessments with higher LTV ratios are considered higher risk and may include higher interest rates for the homebuyer. Lower LTV means that a higher down payment was made and therefore the risk of the buyer defaulting on the loan is lower, resulting in lower interest rates. LTV is calculated by taking the mortgage amount and dividing it by the appraised property value.

Principal

The principal is the actual balance of the loan excluding any interest payments, taxes, or insurance. It is the original amount that was borrowed from the lender and had interest applied to it as well as other costs of borrowing such as taxes and PMI. The principal will be the amount of money you must pay until the loan is completely paid off, however, due to the amortization schedule, the initial payments are directed towards the interest before they are to the principal.

Interest

Interest is the number one cost of borrowing and is calculated at a percentage of the principal amount of the loan. Due to the fact that interest compounds, the majority of the initial payments are applied towards the interest rather than the principal balance. This causes homebuyers to apply extra payments to their loan, to decrease the compounding of the interest and reduce the sum of the loan they will pay.

PITI

Principal, interest, property taxes, and home insurance (PITI) are the sum four components of a monthly mortgage payment. Together they make up what homebuyers would traditionally refer to as their mortgage. PITI is used by both borrowers and lenders to determine the affordability of a property for the homebuyer. If the PITI amount is considered too high when compared to the monthly household income, the borrower is considered high credit risk and may not be approved for the mortgage loan.