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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Sep, 2021 Aug, 2051
Loan Closing Loan Payoff

Compare Virginia Mortgage Rates

740-850 FICO UP TO 2.0 POINTS

SEP 25, 2021

 
2.864%
APR
$1,018
per month
30 Year
Fixed
Rate: 2.725%
Fees: $4,552
Points: 1.821
Lock: 30 days
View Details
3.398%
APR
$1,089
per month
30 Year
Fixed
Rate: 3.250%
Fees: $4,688
Points: 1.375
Lock: 30 days
View Details
2.986%
APR
$1,038
per month
30 Year
Fixed
Rate: 2.875%
Fees: $3,580
Points: 1.432
Lock: 30 days
View Details
2.768%
APR
$1,005
per month
30 Year
Fixed
Rate: 2.625%
Fees: $4,700
Points: 1.880
Lock: 45 days
View Details
3.301%
APR
$1,071
per month
30 Year
Fixed
Rate: 3.125%
Fees: $5,625
Points: 1.750
Lock: 30 days
View Details
3.398%
APR
$1,089
per month
30 Year
Fixed
Rate: 3.250%
Fees: $4,688
Points: 1.375
Lock: 30 days
View Details
2.864%
APR
$1,018
per month
30 Year
Fixed
Rate: 2.725%
Fees: $4,552
Points: 1.821
Lock: 30 days
View Details
2.986%
APR
$1,038
per month
30 Year
Fixed
Rate: 2.875%
Fees: $3,580
Points: 1.432
Lock: 30 days
View Details
2.645%
APR
$988
per month
30 Year
Fixed
Rate: 2.500%
Fees: $4,790
Points: 1.916
Lock: 30 days
View Details
2.722%
APR
$1,005
per month
30 Year
Fixed
Rate: 2.625%
Fees: $3,178
Points: 1.271
Lock: 45 days
View Details
  • Certified Pre-Approval Process
  • Customized Rate Quotes, no SSN or Hard Credit Pull
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View Details
  Monthly Annual Total of 360 Payments
Principal $393 — $1,119 $1,581 — $12,915 $250,000
Interest $3 — $729 $117 — $8,617 $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
Sep, 2021 $729 $393 $188 $125 $150 $249,607
Oct, 2021 $728 $395 $188 $125 $150 $249,212
Nov, 2021 $727 $396 $188 $125 $150 $248,816
Dec, 2021 $726 $397 $188 $125 $150 $248,419
2021 $2,910 $1,581 $750 $500 $600 $248,419
Jan, 2022 $725 $398 $188 $125 $150 $248,021
Feb, 2022 $723 $399 $188 $125 $150 $247,622
Mar, 2022 $722 $400 $188 $125 $150 $247,222
Apr, 2022 $721 $402 $188 $125 $150 $246,820
May, 2022 $720 $403 $188 $125 $150 $246,417
Jun, 2022 $719 $404 $188 $125 $150 $246,014
Jul, 2022 $718 $405 $188 $125 $150 $245,608
Aug, 2022 $716 $406 $188 $125 $150 $245,202
Sep, 2022 $715 $407 $188 $125 $150 $244,795
Oct, 2022 $714 $409 $188 $125 $150 $244,386
Nov, 2022 $713 $410 $188 $125 $150 $243,976
Dec, 2022 $712 $411 $188 $125 $150 $243,565
2022 $8,617 $4,854 $2,250 $1,500 $1,800 $243,565
Jan, 2023 $710 $412 $188 $125 $150 $243,153
Feb, 2023 $709 $413 $188 $125 $150 $242,740
Mar, 2023 $708 $415 $188 $125 $150 $242,325
Apr, 2023 $707 $416 $188 $125 $150 $241,909
May, 2023 $706 $417 $188 $125 $150 $241,492
Jun, 2023 $704 $418 $188 $125 $150 $241,074
Jul, 2023 $703 $419 $188 $125 $150 $240,654
Aug, 2023 $702 $421 $188 $125 $150 $240,234
Sep, 2023 $701 $422 $188 $125 $150 $239,812
Oct, 2023 $699 $423 $188 $125 $150 $239,389
Nov, 2023 $698 $424 $188 $125 $150 $238,964
Dec, 2023 $697 $426 $188 $125 $150 $238,539
2023 $8,445 $5,027 $2,250 $1,500 $1,800 $238,539
Jan, 2024 $696 $427 $188 $125 $150 $238,112
Feb, 2024 $694 $428 $188 $125 $150 $237,684
Mar, 2024 $693 $429 $188 $125 $150 $237,254
Apr, 2024 $692 $431 $188 $125 $150 $236,824
May, 2024 $691 $432 $188 $125 $150 $236,392
Jun, 2024 $689 $433 $188 $125 $150 $235,959
Jul, 2024 $688 $434 $188 $125 $150 $235,524
Aug, 2024 $687 $436 $188 $125 $150 $235,089
Sep, 2024 $686 $437 $188 $125 $150 $234,652
Oct, 2024 $684 $438 $188 $125 $150 $234,213
Nov, 2024 $683 $439 $188 $125 $150 $233,774
Dec, 2024 $682 $441 $188 $125 $150 $233,333
2024 $8,266 $5,205 $2,250 $1,500 $1,800 $233,333
Jan, 2025 $681 $442 $188 $125 $150 $232,891
Feb, 2025 $679 $443 $188 $125 $150 $232,448
Mar, 2025 $678 $445 $188 $125 $150 $232,003
Apr, 2025 $677 $446 $188 $125 $150 $231,557
May, 2025 $675 $447 $188 $125 $150 $231,110
Jun, 2025 $674 $449 $188 $125 $150 $230,661
Jul, 2025 $673 $450 $188 $125 $150 $230,212
Aug, 2025 $671 $451 $188 $125 $150 $229,760
Sep, 2025 $670 $452 $188 $125 $150 $229,308
Oct, 2025 $669 $454 $188 $125 $150 $228,854
Nov, 2025 $667 $455 $188 $125 $150 $228,399
Dec, 2025 $666 $456 $188 $125 $150 $227,943
2025 $8,081 $5,391 $2,250 $1,500 $1,800 $227,943
Jan, 2026 $665 $458 $188 $125 $150 $227,485
Feb, 2026 $663 $459 $188 $125 $150 $227,026
Mar, 2026 $662 $460 $188 $125 $150 $226,565
Apr, 2026 $661 $462 $188 $125 $150 $226,103
May, 2026 $659 $463 $188 $125 $150 $225,640
Jun, 2026 $658 $464 $188 $125 $150 $225,176
Jul, 2026 $657 $466 $188 $125 $150 $224,710
Aug, 2026 $655 $467 $188 $125 $150 $224,243
Sep, 2026 $654 $469 $188 $125 $150 $223,774
Oct, 2026 $653 $470 $188 $125 $150 $223,304
Nov, 2026 $651 $471 $188 $125 $150 $222,833
Dec, 2026 $650 $473 $188 $125 $150 $222,360
2026 $7,889 $5,582 $2,250 $1,500 $1,800 $222,360
Jan, 2027 $649 $474 $188 $125 $150 $221,886
Feb, 2027 $647 $475 $188 $125 $150 $221,411
Mar, 2027 $646 $477 $188 $125 $150 $220,934
Apr, 2027 $644 $478 $188 $125 $150 $220,456
May, 2027 $643 $480 $188 $125 $150 $219,976
Jun, 2027 $642 $481 $188 $125 $150 $219,495
Jul, 2027 $640 $482 $188 $125 $150 $219,013
Aug, 2027 $639 $484 $188 $125 $150 $218,529
Sep, 2027 $637 $485 $188 $125 $150 $218,044
Oct, 2027 $636 $487 $188 $125 $150 $217,557
Nov, 2027 $635 $488 $188 $125 $150 $217,069
Dec, 2027 $633 $489 $188 $125 $150 $216,579
2027 $7,690 $5,781 $2,250 $1,500 $1,800 $216,579
Jan, 2028 $632 $491 $188 $125 $150 $216,088
Feb, 2028 $630 $492 $188 $125 $150 $215,596
Mar, 2028 $629 $494 $188 $125 $150 $215,102
Apr, 2028 $627 $495 $188 $125 $150 $214,607
May, 2028 $626 $497 $188 $125 $150 $214,110
Jun, 2028 $624 $498 $188 $125 $150 $213,612
Jul, 2028 $623 $500 $188 $125 $150 $213,113
Aug, 2028 $622 $501 $188 $125 $150 $212,612
Sep, 2028 $620 $502 $188 $125 $150 $212,109
Oct, 2028 $619 $504 $188 $125 $150 $211,605
Nov, 2028 $617 $505 $188 $125 $150 $211,100
Dec, 2028 $616 $507 $188 $125 $150 $210,593
2028 $7,485 $5,986 $2,250 $1,500 $1,800 $210,593
Jan, 2029 $614 $508 $188 $125 $150 $210,084
Feb, 2029 $613 $510 $188 $125 $150 $209,575
Mar, 2029 $611 $511 $188 $125 $150 $209,063
Apr, 2029 $610 $513 $188 $125 $150 $208,550
May, 2029 $608 $514 $188 $125 $150 $208,036
Jun, 2029 $607 $516 $188 $125 $150 $207,520
Jul, 2029 $605 $517 $188 $125 $150 $207,003
Aug, 2029 $604 $519 $188 $125 $150 $206,484
Sep, 2029 $602 $520 $188 $125 $150 $205,964
Oct, 2029 $601 $522 $188 $125 $150 $205,442
Nov, 2029 $599 $523 $188 $125 $150 $204,918
Dec, 2029 $598 $525 $188 $125 $150 $204,393
2029 $7,272 $6,199 $2,250 $1,500 $1,800 $204,393
Jan, 2030 $596 $526 $188 $125 $150 $203,867
Feb, 2030 $595 $528 $188 $125 $150 $203,339
Mar, 2030 $593 $530 $188 $125 $150 $202,809
Apr, 2030 $592 $531 $188 $125 $150 $202,278
May, 2030 $590 $533 $188 $125 $150 $201,746
Jun, 2030 $588 $534 $188 $125 $150 $201,211
Jul, 2030 $587 $536 $188 $125 $150 $200,676
Aug, 2030 $585 $537 $188 $125 $150 $200,138
Sep, 2030 $584 $539 $188 $125 $150 $199,600
Oct, 2030 $582 $540 $188 $125 $150 $199,059
Nov, 2030 $581 $542 $188 $125 $150 $198,517
Dec, 2030 $579 $544 $188 $125 $150 $197,973
2030 $7,051 $6,420 $2,250 $1,500 $1,800 $197,973
Jan, 2031 $577 $545 $188 $125 $150 $197,428
Feb, 2031 $576 $547 $188 $125 $150 $196,882
Mar, 2031 $574 $548 $188 $125 $150 $196,333
Apr, 2031 $573 $550 $188 $125 $150 $195,783
May, 2031 $571 $552 $188 $125 $150 $195,232
Jun, 2031 $569 $553 $188 $125 $150 $194,678
Jul, 2031 $568 $555 $188 $125 $150 $194,124
Aug, 2031 $566 $556 $188 $125 $150 $193,567
Sep, 2031 $565 $558 $188 $125 $150 $193,009
Oct, 2031 $563 $560 $188 $125 $150 $192,449
Nov, 2031 $561 $561 $188 $125 $150 $191,888
Dec, 2031 $560 $563 $188 $125 $150 $191,325
2031 $6,823 $6,648 $2,250 $1,500 $1,800 $191,325
Jan, 2032 $558 $565 $188 $125 $150 $190,761
Feb, 2032 $556 $566 $188 $125 $150 $190,194
Mar, 2032 $555 $568 $188 $125 $150 $189,627
Apr, 2032 $553 $570 $188 $125 $150 $189,057
May, 2032 $551 $571 $188 $125 $150 $188,486
Jun, 2032 $550 $573 $188 $125 $150 $187,913
Jul, 2032 $548 $575 $188 $125 $150 $187,338
Aug, 2032 $546 $576 $188 $125 $150 $186,762
Sep, 2032 $545 $578 $188 $125 $150 $186,184
Oct, 2032 $543 $580 $188 $125 $150 $185,605
Nov, 2032 $541 $581 $188 $125 $150 $185,023
Dec, 2032 $540 $583 $188 $125 $150 $184,441
2032 $6,587 $6,885 $2,250 $1,500 $1,800 $184,441
Jan, 2033 $538 $585 $188 $125 $150 $183,856
Feb, 2033 $536 $586 $188 $125 $150 $183,270
Mar, 2033 $535 $588 $188 $125 $150 $182,681
Apr, 2033 $533 $590 $188 $125 $150 $182,092
May, 2033 $531 $592 $188 $125 $150 $181,500
Jun, 2033 $529 $593 $188 $125 $150 $180,907
Jul, 2033 $528 $595 $188 $125 $150 $180,312
Aug, 2033 $526 $597 $188 $125 $150 $179,715
Sep, 2033 $524 $598 $188 $125 $150 $179,117
Oct, 2033 $522 $600 $188 $125 $150 $178,517
Nov, 2033 $521 $602 $188 $125 $150 $177,915
Dec, 2033 $519 $604 $188 $125 $150 $177,311
2033 $6,342 $7,130 $2,250 $1,500 $1,800 $177,311
Jan, 2034 $517 $605 $188 $125 $150 $176,706
Feb, 2034 $515 $607 $188 $125 $150 $176,098
Mar, 2034 $514 $609 $188 $125 $150 $175,489
Apr, 2034 $512 $611 $188 $125 $150 $174,879
May, 2034 $510 $613 $188 $125 $150 $174,266
Jun, 2034 $508 $614 $188 $125 $150 $173,652
Jul, 2034 $506 $616 $188 $125 $150 $173,036
Aug, 2034 $505 $618 $188 $125 $150 $172,418
Sep, 2034 $503 $620 $188 $125 $150 $171,798
Oct, 2034 $501 $622 $188 $125 $150 $171,176
Nov, 2034 $499 $623 $188 $125 $150 $170,553
Dec, 2034 $497 $625 $188 $125 $150 $169,928
2034 $6,088 $7,383 $2,250 $1,500 $1,800 $169,928
Jan, 2035 $496 $627 $188 $125 $150 $169,301
Feb, 2035 $494 $629 $188 $125 $150 $168,672
Mar, 2035 $492 $631 $188 $125 $150 $168,041
Apr, 2035 $490 $632 $188 $125 $150 $167,409
May, 2035 $488 $634 $188 $125 $150 $166,775
Jun, 2035 $486 $636 $188 $125 $150 $166,138
Jul, 2035 $485 $638 $188 $125 $150 $165,500
Aug, 2035 $483 $640 $188 $125 $150 $164,860
Sep, 2035 $481 $642 $188 $125 $150 $164,219
Oct, 2035 $479 $644 $188 $125 $150 $163,575
Nov, 2035 $477 $646 $188 $125 $150 $162,929
Dec, 2035 $475 $647 $188 $125 $150 $162,282
2035 $5,826 $7,646 $2,250 $1,500 $1,800 $162,282
Jan, 2036 $473 $649 $188 $125 $150 $161,633
Feb, 2036 $471 $651 $188 $125 $150 $160,982
Mar, 2036 $470 $653 $188 $125 $150 $160,329
Apr, 2036 $468 $655 $188 $125 $150 $159,674
May, 2036 $466 $657 $188 $125 $150 $159,017
Jun, 2036 $464 $659 $188 $125 $150 $158,358
Jul, 2036 $462 $661 $188 $125 $150 $157,697
Aug, 2036 $460 $663 $188 $125 $150 $157,034
Sep, 2036 $458 $665 $188 $125 $150 $156,370
Oct, 2036 $456 $667 $188 $125 $150 $155,703
Nov, 2036 $454 $668 $188 $125 $150 $155,035
Dec, 2036 $452 $670 $188 $125 $150 $154,364
2036 $5,554 $7,918 $2,250 $1,500 $1,800 $154,364
Jan, 2037 $450 $672 $188 $125 $150 $153,692
Feb, 2037 $448 $674 $188 $125 $150 $153,018
Mar, 2037 $446 $676 $188 $125 $150 $152,341
Apr, 2037 $444 $678 $188 $125 $150 $151,663
May, 2037 $442 $680 $188 $125 $150 $150,983
Jun, 2037 $440 $682 $188 $125 $150 $150,301
Jul, 2037 $438 $684 $188 $125 $150 $149,616
Aug, 2037 $436 $686 $188 $125 $150 $148,930
Sep, 2037 $434 $688 $188 $125 $150 $148,242
Oct, 2037 $432 $690 $188 $125 $150 $147,552
Nov, 2037 $430 $692 $188 $125 $150 $146,859
Dec, 2037 $428 $694 $188 $125 $150 $146,165
2037 $5,272 $8,199 $2,250 $1,500 $1,800 $146,165
Jan, 2038 $426 $696 $188 $125 $150 $145,469
Feb, 2038 $424 $698 $188 $125 $150 $144,770
Mar, 2038 $422 $700 $188 $125 $150 $144,070
Apr, 2038 $420 $702 $188 $125 $150 $143,368
May, 2038 $418 $704 $188 $125 $150 $142,663
Jun, 2038 $416 $707 $188 $125 $150 $141,957
Jul, 2038 $414 $709 $188 $125 $150 $141,248
Aug, 2038 $412 $711 $188 $125 $150 $140,538
Sep, 2038 $410 $713 $188 $125 $150 $139,825
Oct, 2038 $408 $715 $188 $125 $150 $139,110
Nov, 2038 $406 $717 $188 $125 $150 $138,393
Dec, 2038 $404 $719 $188 $125 $150 $137,674
2038 $4,980 $8,491 $2,250 $1,500 $1,800 $137,674
Jan, 2039 $402 $721 $188 $125 $150 $136,953
Feb, 2039 $399 $723 $188 $125 $150 $136,230
Mar, 2039 $397 $725 $188 $125 $150 $135,505
Apr, 2039 $395 $727 $188 $125 $150 $134,777
May, 2039 $393 $730 $188 $125 $150 $134,048
Jun, 2039 $391 $732 $188 $125 $150 $133,316
Jul, 2039 $389 $734 $188 $125 $150 $132,582
Aug, 2039 $387 $736 $188 $125 $150 $131,846
Sep, 2039 $385 $738 $188 $125 $150 $131,108
Oct, 2039 $382 $740 $188 $125 $150 $130,368
Nov, 2039 $380 $742 $188 $125 $150 $129,626
Dec, 2039 $378 $745 $188 $125 $150 $128,881
2039 $4,678 $8,793 $2,250 $1,500 $1,800 $128,881
Jan, 2040 $376 $747 $188 $125 $150 $128,135
Feb, 2040 $374 $749 $188 $125 $150 $127,386
Mar, 2040 $372 $751 $188 $125 $150 $126,635
Apr, 2040 $369 $753 $188 $125 $150 $125,881
May, 2040 $367 $755 $188 $125 $150 $125,126
Jun, 2040 $365 $758 $188 $125 $150 $124,368
Jul, 2040 $363 $760 $188 $125 $150 $123,608
Aug, 2040 $361 $762 $188 $125 $150 $122,846
Sep, 2040 $358 $764 $188 $125 $150 $122,082
Oct, 2040 $356 $767 $188 $125 $150 $121,315
Nov, 2040 $354 $769 $188 $125 $150 $120,547
Dec, 2040 $352 $771 $188 $125 $150 $119,776
2040 $4,366 $9,106 $2,250 $1,500 $1,800 $119,776
Jan, 2041 $349 $773 $188 $125 $150 $119,002
Feb, 2041 $347 $776 $188 $125 $150 $118,227
Mar, 2041 $345 $778 $188 $125 $150 $117,449
Apr, 2041 $343 $780 $188 $125 $150 $116,669
May, 2041 $340 $782 $188 $125 $150 $115,887
Jun, 2041 $338 $785 $188 $125 $150 $115,102
Jul, 2041 $336 $787 $188 $125 $150 $114,315
Aug, 2041 $333 $789 $188 $125 $150 $113,526
Sep, 2041 $331 $791 $188 $125 $150 $112,735
Oct, 2041 $329 $794 $188 $125 $150 $111,941
Nov, 2041 $326 $796 $188 $125 $150 $111,145
Dec, 2041 $324 $798 $188 $125 $150 $110,346
2041 $4,042 $9,430 $2,250 $1,500 $1,800 $110,346
Jan, 2042 $322 $801 $188 $125 $150 $109,545
Feb, 2042 $320 $803 $188 $125 $150 $108,742
Mar, 2042 $317 $805 $188 $125 $150 $107,937
Apr, 2042 $315 $808 $188 $125 $150 $107,129
May, 2042 $312 $810 $188 $125 $150 $106,319
Jun, 2042 $310 $813 $188 $125 $150 $105,506
Jul, 2042 $308 $815 $188 $125 $150 $104,691
Aug, 2042 $305 $817 $188 $125 $150 $103,874
Sep, 2042 $303 $820 $188 $125 $150 $103,055
Oct, 2042 $301 $822 $188 $125 $150 $102,233
Nov, 2042 $298 $824 $188 $125 $150 $101,408
Dec, 2042 $296 $827 $188 $125 $150 $100,581
2042 $3,706 $9,765 $2,250 $1,500 $1,800 $100,581
Jan, 2043 $293 $829 $188 $125 $150 $99,752
Feb, 2043 $291 $832 $188 $125 $150 $98,920
Mar, 2043 $289 $834 $188 $125 $150 $98,086
Apr, 2043 $286 $837 $188 $125 $150 $97,250
May, 2043 $284 $839 $188 $125 $150 $96,411
Jun, 2043 $281 $841 $188 $125 $150 $95,569
Jul, 2043 $279 $844 $188 $125 $150 $94,725
Aug, 2043 $276 $846 $188 $125 $150 $93,879
Sep, 2043 $274 $849 $188 $125 $150 $93,030
Oct, 2043 $271 $851 $188 $125 $150 $92,179
Nov, 2043 $269 $854 $188 $125 $150 $91,325
Dec, 2043 $266 $856 $188 $125 $150 $90,469
2043 $3,359 $10,112 $2,250 $1,500 $1,800 $90,469
Jan, 2044 $264 $859 $188 $125 $150 $89,610
Feb, 2044 $261 $861 $188 $125 $150 $88,749
Mar, 2044 $259 $864 $188 $125 $150 $87,885
Apr, 2044 $256 $866 $188 $125 $150 $87,019
May, 2044 $254 $869 $188 $125 $150 $86,150
Jun, 2044 $251 $871 $188 $125 $150 $85,279
Jul, 2044 $249 $874 $188 $125 $150 $84,405
Aug, 2044 $246 $876 $188 $125 $150 $83,529
Sep, 2044 $244 $879 $188 $125 $150 $82,650
Oct, 2044 $241 $882 $188 $125 $150 $81,768
Nov, 2044 $238 $884 $188 $125 $150 $80,884
Dec, 2044 $236 $887 $188 $125 $150 $79,997
2044 $2,999 $10,472 $2,250 $1,500 $1,800 $79,997
Jan, 2045 $233 $889 $188 $125 $150 $79,108
Feb, 2045 $231 $892 $188 $125 $150 $78,216
Mar, 2045 $228 $894 $188 $125 $150 $77,322
Apr, 2045 $226 $897 $188 $125 $150 $76,424
May, 2045 $223 $900 $188 $125 $150 $75,525
Jun, 2045 $220 $902 $188 $125 $150 $74,622
Jul, 2045 $218 $905 $188 $125 $150 $73,717
Aug, 2045 $215 $908 $188 $125 $150 $72,810
Sep, 2045 $212 $910 $188 $125 $150 $71,900
Oct, 2045 $210 $913 $188 $125 $150 $70,987
Nov, 2045 $207 $916 $188 $125 $150 $70,071
Dec, 2045 $204 $918 $188 $125 $150 $69,153
2045 $2,627 $10,844 $2,250 $1,500 $1,800 $69,153
Jan, 2046 $202 $921 $188 $125 $150 $68,232
Feb, 2046 $199 $924 $188 $125 $150 $67,308
Mar, 2046 $196 $926 $188 $125 $150 $66,382
Apr, 2046 $194 $929 $188 $125 $150 $65,453
May, 2046 $191 $932 $188 $125 $150 $64,521
Jun, 2046 $188 $934 $188 $125 $150 $63,587
Jul, 2046 $185 $937 $188 $125 $150 $62,650
Aug, 2046 $183 $940 $188 $125 $150 $61,710
Sep, 2046 $180 $943 $188 $125 $150 $60,767
Oct, 2046 $177 $945 $188 $125 $150 $59,822
Nov, 2046 $174 $948 $188 $125 $150 $58,874
Dec, 2046 $172 $951 $188 $125 $150 $57,923
2046 $2,241 $11,230 $2,250 $1,500 $1,800 $57,923
Jan, 2047 $169 $954 $188 $125 $150 $56,969
Feb, 2047 $166 $956 $188 $125 $150 $56,013
Mar, 2047 $163 $959 $188 $125 $150 $55,054
Apr, 2047 $161 $962 $188 $125 $150 $54,092
May, 2047 $158 $965 $188 $125 $150 $53,127
Jun, 2047 $155 $968 $188 $125 $150 $52,159
Jul, 2047 $152 $970 $188 $125 $150 $51,189
Aug, 2047 $149 $973 $188 $125 $150 $50,215
Sep, 2047 $146 $976 $188 $125 $150 $49,239
Oct, 2047 $144 $979 $188 $125 $150 $48,260
Nov, 2047 $141 $982 $188 $125 $150 $47,278
Dec, 2047 $138 $985 $188 $125 $150 $46,294
2047 $1,842 $11,629 $2,250 $1,500 $1,800 $46,294
Jan, 2048 $135 $988 $188 $125 $150 $45,306
Feb, 2048 $132 $990 $188 $125 $150 $44,315
Mar, 2048 $129 $993 $188 $125 $150 $43,322
Apr, 2048 $126 $996 $188 $125 $150 $42,326
May, 2048 $123 $999 $188 $125 $150 $41,327
Jun, 2048 $121 $1,002 $188 $125 $150 $40,325
Jul, 2048 $118 $1,005 $188 $125 $150 $39,320
Aug, 2048 $115 $1,008 $188 $125 $150 $38,312
Sep, 2048 $112 $1,011 $188 $125 $150 $37,301
Oct, 2048 $109 $1,014 $188 $125 $150 $36,287
Nov, 2048 $106 $1,017 $188 $125 $150 $35,270
Dec, 2048 $103 $1,020 $188 $125 $150 $34,250
2048 $1,428 $12,043 $2,250 $1,500 $1,800 $34,250
Jan, 2049 $100 $1,023 $188 $125 $150 $33,228
Feb, 2049 $97 $1,026 $188 $125 $150 $32,202
Mar, 2049 $94 $1,029 $188 $125 $150 $31,173
Apr, 2049 $91 $1,032 $188 $125 $150 $30,142
May, 2049 $88 $1,035 $188 $125 $150 $29,107
Jun, 2049 $85 $1,038 $188 $125 $150 $28,069
Jul, 2049 $82 $1,041 $188 $125 $150 $27,029
Aug, 2049 $79 $1,044 $188 $125 $150 $25,985
Sep, 2049 $76 $1,047 $188 $125 $150 $24,938
Oct, 2049 $73 $1,050 $188 $125 $150 $23,888
Nov, 2049 $70 $1,053 $188 $125 $150 $22,835
Dec, 2049 $67 $1,056 $188 $125 $150 $21,779
2049 $1,000 $12,471 $2,250 $1,500 $1,800 $21,779
Jan, 2050 $64 $1,059 $188 $125 $150 $20,720
Feb, 2050 $60 $1,062 $188 $125 $150 $19,658
Mar, 2050 $57 $1,065 $188 $125 $150 $18,593
Apr, 2050 $54 $1,068 $188 $125 $150 $17,524
May, 2050 $51 $1,071 $188 $125 $150 $16,453
Jun, 2050 $48 $1,075 $188 $125 $150 $15,378
Jul, 2050 $45 $1,078 $188 $125 $150 $14,300
Aug, 2050 $42 $1,081 $188 $125 $150 $13,219
Sep, 2050 $39 $1,084 $188 $125 $150 $12,135
Oct, 2050 $35 $1,087 $188 $125 $150 $11,048
Nov, 2050 $32 $1,090 $188 $125 $150 $9,958
Dec, 2050 $29 $1,094 $188 $125 $150 $8,864
2050 $556 $12,915 $2,250 $1,500 $1,800 $8,864
Jan, 2051 $26 $1,097 $188 $125 $150 $7,767
Feb, 2051 $23 $1,100 $188 $125 $150 $6,667
Mar, 2051 $19 $1,103 $188 $125 $150 $5,564
Apr, 2051 $16 $1,106 $188 $125 $150 $4,458
May, 2051 $13 $1,110 $188 $125 $150 $3,348
Jun, 2051 $10 $1,113 $188 $125 $150 $2,235
Jul, 2051 $7 $1,116 $188 $125 $150 $1,119
Aug, 2051 $3 $1,119 $188 $125 $150 $0
2051 $117 $8,864 $1,500 $1,000 $1,200 $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.