Mortgage Amortization 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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Aug, 2022 Jul, 2052
Loan Closing Loan Payoff

Compare Virginia Mortgage Amortization Rates

740-850 FICO UP TO 2.0 POINTS

AUG 15, 2022

 
4.664%
APR
$1,267
per month
30 Year
Fixed
Rate: 4.500%
Fees: $995
Points: 1.535
Pts amt: $3,837
View Details
6.105%
APR
$1,479
per month
30 Year
Fixed
Rate: 5.875%
Fees: $1,250
Points: 2.000
Pts amt: $5,000
View Details
  • Certified Pre-Approval Process
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View Details
Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.
  Monthly Annual Total of 360 Payments
Principal $393 — $1,119 $1,979 — $12,953 $250,000
Interest $3 — $729 $91 — $8,603 $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
Aug, 2022 $729 $393 $188 $125 $150 $249,607
Sep, 2022 $728 $395 $188 $125 $150 $249,212
Oct, 2022 $727 $396 $188 $125 $150 $248,816
Nov, 2022 $726 $397 $188 $125 $150 $248,419
Dec, 2022 $725 $398 $188 $125 $150 $248,021
2022 $3,634 $1,979 $938 $625 $750 $248,021
Jan, 2023 $723 $399 $188 $125 $150 $247,622
Feb, 2023 $722 $400 $188 $125 $150 $247,222
Mar, 2023 $721 $402 $188 $125 $150 $246,820
Apr, 2023 $720 $403 $188 $125 $150 $246,417
May, 2023 $719 $404 $188 $125 $150 $246,014
Jun, 2023 $718 $405 $188 $125 $150 $245,608
Jul, 2023 $716 $406 $188 $125 $150 $245,202
Aug, 2023 $715 $407 $188 $125 $150 $244,795
Sep, 2023 $714 $409 $188 $125 $150 $244,386
Oct, 2023 $713 $410 $188 $125 $150 $243,976
Nov, 2023 $712 $411 $188 $125 $150 $243,565
Dec, 2023 $710 $412 $188 $125 $150 $243,153
2023 $8,603 $4,868 $2,250 $1,500 $1,800 $243,153
Jan, 2024 $709 $413 $188 $125 $150 $242,740
Feb, 2024 $708 $415 $188 $125 $150 $242,325
Mar, 2024 $707 $416 $188 $125 $150 $241,909
Apr, 2024 $706 $417 $188 $125 $150 $241,492
May, 2024 $704 $418 $188 $125 $150 $241,074
Jun, 2024 $703 $419 $188 $125 $150 $240,654
Jul, 2024 $702 $421 $188 $125 $150 $240,234
Aug, 2024 $701 $422 $188 $125 $150 $239,812
Sep, 2024 $699 $423 $188 $125 $150 $239,389
Oct, 2024 $698 $424 $188 $125 $150 $238,964
Nov, 2024 $697 $426 $188 $125 $150 $238,539
Dec, 2024 $696 $427 $188 $125 $150 $238,112
2024 $8,430 $5,041 $2,250 $1,500 $1,800 $238,112
Jan, 2025 $694 $428 $188 $125 $150 $237,684
Feb, 2025 $693 $429 $188 $125 $150 $237,254
Mar, 2025 $692 $431 $188 $125 $150 $236,824
Apr, 2025 $691 $432 $188 $125 $150 $236,392
May, 2025 $689 $433 $188 $125 $150 $235,959
Jun, 2025 $688 $434 $188 $125 $150 $235,524
Jul, 2025 $687 $436 $188 $125 $150 $235,089
Aug, 2025 $686 $437 $188 $125 $150 $234,652
Sep, 2025 $684 $438 $188 $125 $150 $234,213
Oct, 2025 $683 $439 $188 $125 $150 $233,774
Nov, 2025 $682 $441 $188 $125 $150 $233,333
Dec, 2025 $681 $442 $188 $125 $150 $232,891
2025 $8,251 $5,221 $2,250 $1,500 $1,800 $232,891
Jan, 2026 $679 $443 $188 $125 $150 $232,448
Feb, 2026 $678 $445 $188 $125 $150 $232,003
Mar, 2026 $677 $446 $188 $125 $150 $231,557
Apr, 2026 $675 $447 $188 $125 $150 $231,110
May, 2026 $674 $449 $188 $125 $150 $230,661
Jun, 2026 $673 $450 $188 $125 $150 $230,212
Jul, 2026 $671 $451 $188 $125 $150 $229,760
Aug, 2026 $670 $452 $188 $125 $150 $229,308
Sep, 2026 $669 $454 $188 $125 $150 $228,854
Oct, 2026 $667 $455 $188 $125 $150 $228,399
Nov, 2026 $666 $456 $188 $125 $150 $227,943
Dec, 2026 $665 $458 $188 $125 $150 $227,485
2026 $8,065 $5,406 $2,250 $1,500 $1,800 $227,485
Jan, 2027 $663 $459 $188 $125 $150 $227,026
Feb, 2027 $662 $460 $188 $125 $150 $226,565
Mar, 2027 $661 $462 $188 $125 $150 $226,103
Apr, 2027 $659 $463 $188 $125 $150 $225,640
May, 2027 $658 $464 $188 $125 $150 $225,176
Jun, 2027 $657 $466 $188 $125 $150 $224,710
Jul, 2027 $655 $467 $188 $125 $150 $224,243
Aug, 2027 $654 $469 $188 $125 $150 $223,774
Sep, 2027 $653 $470 $188 $125 $150 $223,304
Oct, 2027 $651 $471 $188 $125 $150 $222,833
Nov, 2027 $650 $473 $188 $125 $150 $222,360
Dec, 2027 $649 $474 $188 $125 $150 $221,886
2027 $7,873 $5,599 $2,250 $1,500 $1,800 $221,886
Jan, 2028 $647 $475 $188 $125 $150 $221,411
Feb, 2028 $646 $477 $188 $125 $150 $220,934
Mar, 2028 $644 $478 $188 $125 $150 $220,456
Apr, 2028 $643 $480 $188 $125 $150 $219,976
May, 2028 $642 $481 $188 $125 $150 $219,495
Jun, 2028 $640 $482 $188 $125 $150 $219,013
Jul, 2028 $639 $484 $188 $125 $150 $218,529
Aug, 2028 $637 $485 $188 $125 $150 $218,044
Sep, 2028 $636 $487 $188 $125 $150 $217,557
Oct, 2028 $635 $488 $188 $125 $150 $217,069
Nov, 2028 $633 $489 $188 $125 $150 $216,579
Dec, 2028 $632 $491 $188 $125 $150 $216,088
2028 $7,674 $5,798 $2,250 $1,500 $1,800 $216,088
Jan, 2029 $630 $492 $188 $125 $150 $215,596
Feb, 2029 $629 $494 $188 $125 $150 $215,102
Mar, 2029 $627 $495 $188 $125 $150 $214,607
Apr, 2029 $626 $497 $188 $125 $150 $214,110
May, 2029 $624 $498 $188 $125 $150 $213,612
Jun, 2029 $623 $500 $188 $125 $150 $213,113
Jul, 2029 $622 $501 $188 $125 $150 $212,612
Aug, 2029 $620 $502 $188 $125 $150 $212,109
Sep, 2029 $619 $504 $188 $125 $150 $211,605
Oct, 2029 $617 $505 $188 $125 $150 $211,100
Nov, 2029 $616 $507 $188 $125 $150 $210,593
Dec, 2029 $614 $508 $188 $125 $150 $210,084
2029 $7,467 $6,004 $2,250 $1,500 $1,800 $210,084
Jan, 2030 $613 $510 $188 $125 $150 $209,575
Feb, 2030 $611 $511 $188 $125 $150 $209,063
Mar, 2030 $610 $513 $188 $125 $150 $208,550
Apr, 2030 $608 $514 $188 $125 $150 $208,036
May, 2030 $607 $516 $188 $125 $150 $207,520
Jun, 2030 $605 $517 $188 $125 $150 $207,003
Jul, 2030 $604 $519 $188 $125 $150 $206,484
Aug, 2030 $602 $520 $188 $125 $150 $205,964
Sep, 2030 $601 $522 $188 $125 $150 $205,442
Oct, 2030 $599 $523 $188 $125 $150 $204,918
Nov, 2030 $598 $525 $188 $125 $150 $204,393
Dec, 2030 $596 $526 $188 $125 $150 $203,867
2030 $7,254 $6,217 $2,250 $1,500 $1,800 $203,867
Jan, 2031 $595 $528 $188 $125 $150 $203,339
Feb, 2031 $593 $530 $188 $125 $150 $202,809
Mar, 2031 $592 $531 $188 $125 $150 $202,278
Apr, 2031 $590 $533 $188 $125 $150 $201,746
May, 2031 $588 $534 $188 $125 $150 $201,211
Jun, 2031 $587 $536 $188 $125 $150 $200,676
Jul, 2031 $585 $537 $188 $125 $150 $200,138
Aug, 2031 $584 $539 $188 $125 $150 $199,600
Sep, 2031 $582 $540 $188 $125 $150 $199,059
Oct, 2031 $581 $542 $188 $125 $150 $198,517
Nov, 2031 $579 $544 $188 $125 $150 $197,973
Dec, 2031 $577 $545 $188 $125 $150 $197,428
2031 $7,033 $6,439 $2,250 $1,500 $1,800 $197,428
Jan, 2032 $576 $547 $188 $125 $150 $196,882
Feb, 2032 $574 $548 $188 $125 $150 $196,333
Mar, 2032 $573 $550 $188 $125 $150 $195,783
Apr, 2032 $571 $552 $188 $125 $150 $195,232
May, 2032 $569 $553 $188 $125 $150 $194,678
Jun, 2032 $568 $555 $188 $125 $150 $194,124
Jul, 2032 $566 $556 $188 $125 $150 $193,567
Aug, 2032 $565 $558 $188 $125 $150 $193,009
Sep, 2032 $563 $560 $188 $125 $150 $192,449
Oct, 2032 $561 $561 $188 $125 $150 $191,888
Nov, 2032 $560 $563 $188 $125 $150 $191,325
Dec, 2032 $558 $565 $188 $125 $150 $190,761
2032 $6,804 $6,668 $2,250 $1,500 $1,800 $190,761
Jan, 2033 $556 $566 $188 $125 $150 $190,194
Feb, 2033 $555 $568 $188 $125 $150 $189,627
Mar, 2033 $553 $570 $188 $125 $150 $189,057
Apr, 2033 $551 $571 $188 $125 $150 $188,486
May, 2033 $550 $573 $188 $125 $150 $187,913
Jun, 2033 $548 $575 $188 $125 $150 $187,338
Jul, 2033 $546 $576 $188 $125 $150 $186,762
Aug, 2033 $545 $578 $188 $125 $150 $186,184
Sep, 2033 $543 $580 $188 $125 $150 $185,605
Oct, 2033 $541 $581 $188 $125 $150 $185,023
Nov, 2033 $540 $583 $188 $125 $150 $184,441
Dec, 2033 $538 $585 $188 $125 $150 $183,856
2033 $6,567 $6,905 $2,250 $1,500 $1,800 $183,856
Jan, 2034 $536 $586 $188 $125 $150 $183,270
Feb, 2034 $535 $588 $188 $125 $150 $182,681
Mar, 2034 $533 $590 $188 $125 $150 $182,092
Apr, 2034 $531 $592 $188 $125 $150 $181,500
May, 2034 $529 $593 $188 $125 $150 $180,907
Jun, 2034 $528 $595 $188 $125 $150 $180,312
Jul, 2034 $526 $597 $188 $125 $150 $179,715
Aug, 2034 $524 $598 $188 $125 $150 $179,117
Sep, 2034 $522 $600 $188 $125 $150 $178,517
Oct, 2034 $521 $602 $188 $125 $150 $177,915
Nov, 2034 $519 $604 $188 $125 $150 $177,311
Dec, 2034 $517 $605 $188 $125 $150 $176,706
2034 $6,321 $7,150 $2,250 $1,500 $1,800 $176,706
Jan, 2035 $515 $607 $188 $125 $150 $176,098
Feb, 2035 $514 $609 $188 $125 $150 $175,489
Mar, 2035 $512 $611 $188 $125 $150 $174,879
Apr, 2035 $510 $613 $188 $125 $150 $174,266
May, 2035 $508 $614 $188 $125 $150 $173,652
Jun, 2035 $506 $616 $188 $125 $150 $173,036
Jul, 2035 $505 $618 $188 $125 $150 $172,418
Aug, 2035 $503 $620 $188 $125 $150 $171,798
Sep, 2035 $501 $622 $188 $125 $150 $171,176
Oct, 2035 $499 $623 $188 $125 $150 $170,553
Nov, 2035 $497 $625 $188 $125 $150 $169,928
Dec, 2035 $496 $627 $188 $125 $150 $169,301
2035 $6,067 $7,405 $2,250 $1,500 $1,800 $169,301
Jan, 2036 $494 $629 $188 $125 $150 $168,672
Feb, 2036 $492 $631 $188 $125 $150 $168,041
Mar, 2036 $490 $632 $188 $125 $150 $167,409
Apr, 2036 $488 $634 $188 $125 $150 $166,775
May, 2036 $486 $636 $188 $125 $150 $166,138
Jun, 2036 $485 $638 $188 $125 $150 $165,500
Jul, 2036 $483 $640 $188 $125 $150 $164,860
Aug, 2036 $481 $642 $188 $125 $150 $164,219
Sep, 2036 $479 $644 $188 $125 $150 $163,575
Oct, 2036 $477 $646 $188 $125 $150 $162,929
Nov, 2036 $475 $647 $188 $125 $150 $162,282
Dec, 2036 $473 $649 $188 $125 $150 $161,633
2036 $5,803 $7,668 $2,250 $1,500 $1,800 $161,633
Jan, 2037 $471 $651 $188 $125 $150 $160,982
Feb, 2037 $470 $653 $188 $125 $150 $160,329
Mar, 2037 $468 $655 $188 $125 $150 $159,674
Apr, 2037 $466 $657 $188 $125 $150 $159,017
May, 2037 $464 $659 $188 $125 $150 $158,358
Jun, 2037 $462 $661 $188 $125 $150 $157,697
Jul, 2037 $460 $663 $188 $125 $150 $157,034
Aug, 2037 $458 $665 $188 $125 $150 $156,370
Sep, 2037 $456 $667 $188 $125 $150 $155,703
Oct, 2037 $454 $668 $188 $125 $150 $155,035
Nov, 2037 $452 $670 $188 $125 $150 $154,364
Dec, 2037 $450 $672 $188 $125 $150 $153,692
2037 $5,531 $7,941 $2,250 $1,500 $1,800 $153,692
Jan, 2038 $448 $674 $188 $125 $150 $153,018
Feb, 2038 $446 $676 $188 $125 $150 $152,341
Mar, 2038 $444 $678 $188 $125 $150 $151,663
Apr, 2038 $442 $680 $188 $125 $150 $150,983
May, 2038 $440 $682 $188 $125 $150 $150,301
Jun, 2038 $438 $684 $188 $125 $150 $149,616
Jul, 2038 $436 $686 $188 $125 $150 $148,930
Aug, 2038 $434 $688 $188 $125 $150 $148,242
Sep, 2038 $432 $690 $188 $125 $150 $147,552
Oct, 2038 $430 $692 $188 $125 $150 $146,859
Nov, 2038 $428 $694 $188 $125 $150 $146,165
Dec, 2038 $426 $696 $188 $125 $150 $145,469
2038 $5,248 $8,223 $2,250 $1,500 $1,800 $145,469
Jan, 2039 $424 $698 $188 $125 $150 $144,770
Feb, 2039 $422 $700 $188 $125 $150 $144,070
Mar, 2039 $420 $702 $188 $125 $150 $143,368
Apr, 2039 $418 $704 $188 $125 $150 $142,663
May, 2039 $416 $707 $188 $125 $150 $141,957
Jun, 2039 $414 $709 $188 $125 $150 $141,248
Jul, 2039 $412 $711 $188 $125 $150 $140,538
Aug, 2039 $410 $713 $188 $125 $150 $139,825
Sep, 2039 $408 $715 $188 $125 $150 $139,110
Oct, 2039 $406 $717 $188 $125 $150 $138,393
Nov, 2039 $404 $719 $188 $125 $150 $137,674
Dec, 2039 $402 $721 $188 $125 $150 $136,953
2039 $4,956 $8,516 $2,250 $1,500 $1,800 $136,953
Jan, 2040 $399 $723 $188 $125 $150 $136,230
Feb, 2040 $397 $725 $188 $125 $150 $135,505
Mar, 2040 $395 $727 $188 $125 $150 $134,777
Apr, 2040 $393 $730 $188 $125 $150 $134,048
May, 2040 $391 $732 $188 $125 $150 $133,316
Jun, 2040 $389 $734 $188 $125 $150 $132,582
Jul, 2040 $387 $736 $188 $125 $150 $131,846
Aug, 2040 $385 $738 $188 $125 $150 $131,108
Sep, 2040 $382 $740 $188 $125 $150 $130,368
Oct, 2040 $380 $742 $188 $125 $150 $129,626
Nov, 2040 $378 $745 $188 $125 $150 $128,881
Dec, 2040 $376 $747 $188 $125 $150 $128,135
2040 $4,653 $8,819 $2,250 $1,500 $1,800 $128,135
Jan, 2041 $374 $749 $188 $125 $150 $127,386
Feb, 2041 $372 $751 $188 $125 $150 $126,635
Mar, 2041 $369 $753 $188 $125 $150 $125,881
Apr, 2041 $367 $755 $188 $125 $150 $125,126
May, 2041 $365 $758 $188 $125 $150 $124,368
Jun, 2041 $363 $760 $188 $125 $150 $123,608
Jul, 2041 $361 $762 $188 $125 $150 $122,846
Aug, 2041 $358 $764 $188 $125 $150 $122,082
Sep, 2041 $356 $767 $188 $125 $150 $121,315
Oct, 2041 $354 $769 $188 $125 $150 $120,547
Nov, 2041 $352 $771 $188 $125 $150 $119,776
Dec, 2041 $349 $773 $188 $125 $150 $119,002
2041 $4,339 $9,132 $2,250 $1,500 $1,800 $119,002
Jan, 2042 $347 $776 $188 $125 $150 $118,227
Feb, 2042 $345 $778 $188 $125 $150 $117,449
Mar, 2042 $343 $780 $188 $125 $150 $116,669
Apr, 2042 $340 $782 $188 $125 $150 $115,887
May, 2042 $338 $785 $188 $125 $150 $115,102
Jun, 2042 $336 $787 $188 $125 $150 $114,315
Jul, 2042 $333 $789 $188 $125 $150 $113,526
Aug, 2042 $331 $791 $188 $125 $150 $112,735
Sep, 2042 $329 $794 $188 $125 $150 $111,941
Oct, 2042 $326 $796 $188 $125 $150 $111,145
Nov, 2042 $324 $798 $188 $125 $150 $110,346
Dec, 2042 $322 $801 $188 $125 $150 $109,545
2042 $4,014 $9,457 $2,250 $1,500 $1,800 $109,545
Jan, 2043 $320 $803 $188 $125 $150 $108,742
Feb, 2043 $317 $805 $188 $125 $150 $107,937
Mar, 2043 $315 $808 $188 $125 $150 $107,129
Apr, 2043 $312 $810 $188 $125 $150 $106,319
May, 2043 $310 $813 $188 $125 $150 $105,506
Jun, 2043 $308 $815 $188 $125 $150 $104,691
Jul, 2043 $305 $817 $188 $125 $150 $103,874
Aug, 2043 $303 $820 $188 $125 $150 $103,055
Sep, 2043 $301 $822 $188 $125 $150 $102,233
Oct, 2043 $298 $824 $188 $125 $150 $101,408
Nov, 2043 $296 $827 $188 $125 $150 $100,581
Dec, 2043 $293 $829 $188 $125 $150 $99,752
2043 $3,678 $9,793 $2,250 $1,500 $1,800 $99,752
Jan, 2044 $291 $832 $188 $125 $150 $98,920
Feb, 2044 $289 $834 $188 $125 $150 $98,086
Mar, 2044 $286 $837 $188 $125 $150 $97,250
Apr, 2044 $284 $839 $188 $125 $150 $96,411
May, 2044 $281 $841 $188 $125 $150 $95,569
Jun, 2044 $279 $844 $188 $125 $150 $94,725
Jul, 2044 $276 $846 $188 $125 $150 $93,879
Aug, 2044 $274 $849 $188 $125 $150 $93,030
Sep, 2044 $271 $851 $188 $125 $150 $92,179
Oct, 2044 $269 $854 $188 $125 $150 $91,325
Nov, 2044 $266 $856 $188 $125 $150 $90,469
Dec, 2044 $264 $859 $188 $125 $150 $89,610
2044 $3,330 $10,142 $2,250 $1,500 $1,800 $89,610
Jan, 2045 $261 $861 $188 $125 $150 $88,749
Feb, 2045 $259 $864 $188 $125 $150 $87,885
Mar, 2045 $256 $866 $188 $125 $150 $87,019
Apr, 2045 $254 $869 $188 $125 $150 $86,150
May, 2045 $251 $871 $188 $125 $150 $85,279
Jun, 2045 $249 $874 $188 $125 $150 $84,405
Jul, 2045 $246 $876 $188 $125 $150 $83,529
Aug, 2045 $244 $879 $188 $125 $150 $82,650
Sep, 2045 $241 $882 $188 $125 $150 $81,768
Oct, 2045 $238 $884 $188 $125 $150 $80,884
Nov, 2045 $236 $887 $188 $125 $150 $79,997
Dec, 2045 $233 $889 $188 $125 $150 $79,108
2045 $2,969 $10,502 $2,250 $1,500 $1,800 $79,108
Jan, 2046 $231 $892 $188 $125 $150 $78,216
Feb, 2046 $228 $894 $188 $125 $150 $77,322
Mar, 2046 $226 $897 $188 $125 $150 $76,424
Apr, 2046 $223 $900 $188 $125 $150 $75,525
May, 2046 $220 $902 $188 $125 $150 $74,622
Jun, 2046 $218 $905 $188 $125 $150 $73,717
Jul, 2046 $215 $908 $188 $125 $150 $72,810
Aug, 2046 $212 $910 $188 $125 $150 $71,900
Sep, 2046 $210 $913 $188 $125 $150 $70,987
Oct, 2046 $207 $916 $188 $125 $150 $70,071
Nov, 2046 $204 $918 $188 $125 $150 $69,153
Dec, 2046 $202 $921 $188 $125 $150 $68,232
2046 $2,595 $10,876 $2,250 $1,500 $1,800 $68,232
Jan, 2047 $199 $924 $188 $125 $150 $67,308
Feb, 2047 $196 $926 $188 $125 $150 $66,382
Mar, 2047 $194 $929 $188 $125 $150 $65,453
Apr, 2047 $191 $932 $188 $125 $150 $64,521
May, 2047 $188 $934 $188 $125 $150 $63,587
Jun, 2047 $185 $937 $188 $125 $150 $62,650
Jul, 2047 $183 $940 $188 $125 $150 $61,710
Aug, 2047 $180 $943 $188 $125 $150 $60,767
Sep, 2047 $177 $945 $188 $125 $150 $59,822
Oct, 2047 $174 $948 $188 $125 $150 $58,874
Nov, 2047 $172 $951 $188 $125 $150 $57,923
Dec, 2047 $169 $954 $188 $125 $150 $56,969
2047 $2,209 $11,263 $2,250 $1,500 $1,800 $56,969
Jan, 2048 $166 $956 $188 $125 $150 $56,013
Feb, 2048 $163 $959 $188 $125 $150 $55,054
Mar, 2048 $161 $962 $188 $125 $150 $54,092
Apr, 2048 $158 $965 $188 $125 $150 $53,127
May, 2048 $155 $968 $188 $125 $150 $52,159
Jun, 2048 $152 $970 $188 $125 $150 $51,189
Jul, 2048 $149 $973 $188 $125 $150 $50,215
Aug, 2048 $146 $976 $188 $125 $150 $49,239
Sep, 2048 $144 $979 $188 $125 $150 $48,260
Oct, 2048 $141 $982 $188 $125 $150 $47,278
Nov, 2048 $138 $985 $188 $125 $150 $46,294
Dec, 2048 $135 $988 $188 $125 $150 $45,306
2048 $1,808 $11,663 $2,250 $1,500 $1,800 $45,306
Jan, 2049 $132 $990 $188 $125 $150 $44,315
Feb, 2049 $129 $993 $188 $125 $150 $43,322
Mar, 2049 $126 $996 $188 $125 $150 $42,326
Apr, 2049 $123 $999 $188 $125 $150 $41,327
May, 2049 $121 $1,002 $188 $125 $150 $40,325
Jun, 2049 $118 $1,005 $188 $125 $150 $39,320
Jul, 2049 $115 $1,008 $188 $125 $150 $38,312
Aug, 2049 $112 $1,011 $188 $125 $150 $37,301
Sep, 2049 $109 $1,014 $188 $125 $150 $36,287
Oct, 2049 $106 $1,017 $188 $125 $150 $35,270
Nov, 2049 $103 $1,020 $188 $125 $150 $34,250
Dec, 2049 $100 $1,023 $188 $125 $150 $33,228
2049 $1,393 $12,078 $2,250 $1,500 $1,800 $33,228
Jan, 2050 $97 $1,026 $188 $125 $150 $32,202
Feb, 2050 $94 $1,029 $188 $125 $150 $31,173
Mar, 2050 $91 $1,032 $188 $125 $150 $30,142
Apr, 2050 $88 $1,035 $188 $125 $150 $29,107
May, 2050 $85 $1,038 $188 $125 $150 $28,069
Jun, 2050 $82 $1,041 $188 $125 $150 $27,029
Jul, 2050 $79 $1,044 $188 $125 $150 $25,985
Aug, 2050 $76 $1,047 $188 $125 $150 $24,938
Sep, 2050 $73 $1,050 $188 $125 $150 $23,888
Oct, 2050 $70 $1,053 $188 $125 $150 $22,835
Nov, 2050 $67 $1,056 $188 $125 $150 $21,779
Dec, 2050 $64 $1,059 $188 $125 $150 $20,720
2050 $964 $12,508 $2,250 $1,500 $1,800 $20,720
Jan, 2051 $60 $1,062 $188 $125 $150 $19,658
Feb, 2051 $57 $1,065 $188 $125 $150 $18,593
Mar, 2051 $54 $1,068 $188 $125 $150 $17,524
Apr, 2051 $51 $1,071 $188 $125 $150 $16,453
May, 2051 $48 $1,075 $188 $125 $150 $15,378
Jun, 2051 $45 $1,078 $188 $125 $150 $14,300
Jul, 2051 $42 $1,081 $188 $125 $150 $13,219
Aug, 2051 $39 $1,084 $188 $125 $150 $12,135
Sep, 2051 $35 $1,087 $188 $125 $150 $11,048
Oct, 2051 $32 $1,090 $188 $125 $150 $9,958
Nov, 2051 $29 $1,094 $188 $125 $150 $8,864
Dec, 2051 $26 $1,097 $188 $125 $150 $7,767
2051 $519 $12,953 $2,250 $1,500 $1,800 $7,767
Jan, 2052 $23 $1,100 $188 $125 $150 $6,667
Feb, 2052 $19 $1,103 $188 $125 $150 $5,564
Mar, 2052 $16 $1,106 $188 $125 $150 $4,458
Apr, 2052 $13 $1,110 $188 $125 $150 $3,348
May, 2052 $10 $1,113 $188 $125 $150 $2,235
Jun, 2052 $7 $1,116 $188 $125 $150 $1,119
Jul, 2052 $3 $1,119 $188 $125 $150 $0
2052 $91 $7,767 $1,313 $875 $1,050 $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.