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)
 
Loading chart. Please wait...
Mar, 2024 Feb, 2054
Loan Closing Loan Payoff


  Monthly Annual Total of 360 Payments
Principal $393 — $1,119 $2,235 — $13,143 $250,000
Interest $3 — $729 $10 — $8,532 $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
Mar, 2024 $729 $393 $188 $125 $150 $249,607
Apr, 2024 $728 $395 $188 $125 $150 $249,212
May, 2024 $727 $396 $188 $125 $150 $248,816
Jun, 2024 $726 $397 $188 $125 $150 $248,419
Jul, 2024 $725 $398 $188 $125 $150 $248,021
Aug, 2024 $723 $399 $188 $125 $150 $247,622
Sep, 2024 $722 $400 $188 $125 $150 $247,222
Oct, 2024 $721 $402 $188 $125 $150 $246,820
Nov, 2024 $720 $403 $188 $125 $150 $246,417
Dec, 2024 $719 $404 $188 $125 $150 $246,014
2024 $7,240 $3,986 $1,875 $1,250 $1,500 $246,014
Jan, 2025 $718 $405 $188 $125 $150 $245,608
Feb, 2025 $716 $406 $188 $125 $150 $245,202
Mar, 2025 $715 $407 $188 $125 $150 $244,795
Apr, 2025 $714 $409 $188 $125 $150 $244,386
May, 2025 $713 $410 $188 $125 $150 $243,976
Jun, 2025 $712 $411 $188 $125 $150 $243,565
Jul, 2025 $710 $412 $188 $125 $150 $243,153
Aug, 2025 $709 $413 $188 $125 $150 $242,740
Sep, 2025 $708 $415 $188 $125 $150 $242,325
Oct, 2025 $707 $416 $188 $125 $150 $241,909
Nov, 2025 $706 $417 $188 $125 $150 $241,492
Dec, 2025 $704 $418 $188 $125 $150 $241,074
2025 $8,532 $4,940 $2,250 $1,500 $1,800 $241,074
Jan, 2026 $703 $419 $188 $125 $150 $240,654
Feb, 2026 $702 $421 $188 $125 $150 $240,234
Mar, 2026 $701 $422 $188 $125 $150 $239,812
Apr, 2026 $699 $423 $188 $125 $150 $239,389
May, 2026 $698 $424 $188 $125 $150 $238,964
Jun, 2026 $697 $426 $188 $125 $150 $238,539
Jul, 2026 $696 $427 $188 $125 $150 $238,112
Aug, 2026 $694 $428 $188 $125 $150 $237,684
Sep, 2026 $693 $429 $188 $125 $150 $237,254
Oct, 2026 $692 $431 $188 $125 $150 $236,824
Nov, 2026 $691 $432 $188 $125 $150 $236,392
Dec, 2026 $689 $433 $188 $125 $150 $235,959
2026 $8,356 $5,115 $2,250 $1,500 $1,800 $235,959
Jan, 2027 $688 $434 $188 $125 $150 $235,524
Feb, 2027 $687 $436 $188 $125 $150 $235,089
Mar, 2027 $686 $437 $188 $125 $150 $234,652
Apr, 2027 $684 $438 $188 $125 $150 $234,213
May, 2027 $683 $439 $188 $125 $150 $233,774
Jun, 2027 $682 $441 $188 $125 $150 $233,333
Jul, 2027 $681 $442 $188 $125 $150 $232,891
Aug, 2027 $679 $443 $188 $125 $150 $232,448
Sep, 2027 $678 $445 $188 $125 $150 $232,003
Oct, 2027 $677 $446 $188 $125 $150 $231,557
Nov, 2027 $675 $447 $188 $125 $150 $231,110
Dec, 2027 $674 $449 $188 $125 $150 $230,661
2027 $8,174 $5,297 $2,250 $1,500 $1,800 $230,661
Jan, 2028 $673 $450 $188 $125 $150 $230,212
Feb, 2028 $671 $451 $188 $125 $150 $229,760
Mar, 2028 $670 $452 $188 $125 $150 $229,308
Apr, 2028 $669 $454 $188 $125 $150 $228,854
May, 2028 $667 $455 $188 $125 $150 $228,399
Jun, 2028 $666 $456 $188 $125 $150 $227,943
Jul, 2028 $665 $458 $188 $125 $150 $227,485
Aug, 2028 $663 $459 $188 $125 $150 $227,026
Sep, 2028 $662 $460 $188 $125 $150 $226,565
Oct, 2028 $661 $462 $188 $125 $150 $226,103
Nov, 2028 $659 $463 $188 $125 $150 $225,640
Dec, 2028 $658 $464 $188 $125 $150 $225,176
2028 $7,986 $5,486 $2,250 $1,500 $1,800 $225,176
Jan, 2029 $657 $466 $188 $125 $150 $224,710
Feb, 2029 $655 $467 $188 $125 $150 $224,243
Mar, 2029 $654 $469 $188 $125 $150 $223,774
Apr, 2029 $653 $470 $188 $125 $150 $223,304
May, 2029 $651 $471 $188 $125 $150 $222,833
Jun, 2029 $650 $473 $188 $125 $150 $222,360
Jul, 2029 $649 $474 $188 $125 $150 $221,886
Aug, 2029 $647 $475 $188 $125 $150 $221,411
Sep, 2029 $646 $477 $188 $125 $150 $220,934
Oct, 2029 $644 $478 $188 $125 $150 $220,456
Nov, 2029 $643 $480 $188 $125 $150 $219,976
Dec, 2029 $642 $481 $188 $125 $150 $219,495
2029 $7,791 $5,681 $2,250 $1,500 $1,800 $219,495
Jan, 2030 $640 $482 $188 $125 $150 $219,013
Feb, 2030 $639 $484 $188 $125 $150 $218,529
Mar, 2030 $637 $485 $188 $125 $150 $218,044
Apr, 2030 $636 $487 $188 $125 $150 $217,557
May, 2030 $635 $488 $188 $125 $150 $217,069
Jun, 2030 $633 $489 $188 $125 $150 $216,579
Jul, 2030 $632 $491 $188 $125 $150 $216,088
Aug, 2030 $630 $492 $188 $125 $150 $215,596
Sep, 2030 $629 $494 $188 $125 $150 $215,102
Oct, 2030 $627 $495 $188 $125 $150 $214,607
Nov, 2030 $626 $497 $188 $125 $150 $214,110
Dec, 2030 $624 $498 $188 $125 $150 $213,612
2030 $7,589 $5,883 $2,250 $1,500 $1,800 $213,612
Jan, 2031 $623 $500 $188 $125 $150 $213,113
Feb, 2031 $622 $501 $188 $125 $150 $212,612
Mar, 2031 $620 $502 $188 $125 $150 $212,109
Apr, 2031 $619 $504 $188 $125 $150 $211,605
May, 2031 $617 $505 $188 $125 $150 $211,100
Jun, 2031 $616 $507 $188 $125 $150 $210,593
Jul, 2031 $614 $508 $188 $125 $150 $210,084
Aug, 2031 $613 $510 $188 $125 $150 $209,575
Sep, 2031 $611 $511 $188 $125 $150 $209,063
Oct, 2031 $610 $513 $188 $125 $150 $208,550
Nov, 2031 $608 $514 $188 $125 $150 $208,036
Dec, 2031 $607 $516 $188 $125 $150 $207,520
2031 $7,379 $6,092 $2,250 $1,500 $1,800 $207,520
Jan, 2032 $605 $517 $188 $125 $150 $207,003
Feb, 2032 $604 $519 $188 $125 $150 $206,484
Mar, 2032 $602 $520 $188 $125 $150 $205,964
Apr, 2032 $601 $522 $188 $125 $150 $205,442
May, 2032 $599 $523 $188 $125 $150 $204,918
Jun, 2032 $598 $525 $188 $125 $150 $204,393
Jul, 2032 $596 $526 $188 $125 $150 $203,867
Aug, 2032 $595 $528 $188 $125 $150 $203,339
Sep, 2032 $593 $530 $188 $125 $150 $202,809
Oct, 2032 $592 $531 $188 $125 $150 $202,278
Nov, 2032 $590 $533 $188 $125 $150 $201,746
Dec, 2032 $588 $534 $188 $125 $150 $201,211
2032 $7,163 $6,309 $2,250 $1,500 $1,800 $201,211
Jan, 2033 $587 $536 $188 $125 $150 $200,676
Feb, 2033 $585 $537 $188 $125 $150 $200,138
Mar, 2033 $584 $539 $188 $125 $150 $199,600
Apr, 2033 $582 $540 $188 $125 $150 $199,059
May, 2033 $581 $542 $188 $125 $150 $198,517
Jun, 2033 $579 $544 $188 $125 $150 $197,973
Jul, 2033 $577 $545 $188 $125 $150 $197,428
Aug, 2033 $576 $547 $188 $125 $150 $196,882
Sep, 2033 $574 $548 $188 $125 $150 $196,333
Oct, 2033 $573 $550 $188 $125 $150 $195,783
Nov, 2033 $571 $552 $188 $125 $150 $195,232
Dec, 2033 $569 $553 $188 $125 $150 $194,678
2033 $6,938 $6,533 $2,250 $1,500 $1,800 $194,678
Jan, 2034 $568 $555 $188 $125 $150 $194,124
Feb, 2034 $566 $556 $188 $125 $150 $193,567
Mar, 2034 $565 $558 $188 $125 $150 $193,009
Apr, 2034 $563 $560 $188 $125 $150 $192,449
May, 2034 $561 $561 $188 $125 $150 $191,888
Jun, 2034 $560 $563 $188 $125 $150 $191,325
Jul, 2034 $558 $565 $188 $125 $150 $190,761
Aug, 2034 $556 $566 $188 $125 $150 $190,194
Sep, 2034 $555 $568 $188 $125 $150 $189,627
Oct, 2034 $553 $570 $188 $125 $150 $189,057
Nov, 2034 $551 $571 $188 $125 $150 $188,486
Dec, 2034 $550 $573 $188 $125 $150 $187,913
2034 $6,706 $6,765 $2,250 $1,500 $1,800 $187,913
Jan, 2035 $548 $575 $188 $125 $150 $187,338
Feb, 2035 $546 $576 $188 $125 $150 $186,762
Mar, 2035 $545 $578 $188 $125 $150 $186,184
Apr, 2035 $543 $580 $188 $125 $150 $185,605
May, 2035 $541 $581 $188 $125 $150 $185,023
Jun, 2035 $540 $583 $188 $125 $150 $184,441
Jul, 2035 $538 $585 $188 $125 $150 $183,856
Aug, 2035 $536 $586 $188 $125 $150 $183,270
Sep, 2035 $535 $588 $188 $125 $150 $182,681
Oct, 2035 $533 $590 $188 $125 $150 $182,092
Nov, 2035 $531 $592 $188 $125 $150 $181,500
Dec, 2035 $529 $593 $188 $125 $150 $180,907
2035 $6,465 $7,006 $2,250 $1,500 $1,800 $180,907
Jan, 2036 $528 $595 $188 $125 $150 $180,312
Feb, 2036 $526 $597 $188 $125 $150 $179,715
Mar, 2036 $524 $598 $188 $125 $150 $179,117
Apr, 2036 $522 $600 $188 $125 $150 $178,517
May, 2036 $521 $602 $188 $125 $150 $177,915
Jun, 2036 $519 $604 $188 $125 $150 $177,311
Jul, 2036 $517 $605 $188 $125 $150 $176,706
Aug, 2036 $515 $607 $188 $125 $150 $176,098
Sep, 2036 $514 $609 $188 $125 $150 $175,489
Oct, 2036 $512 $611 $188 $125 $150 $174,879
Nov, 2036 $510 $613 $188 $125 $150 $174,266
Dec, 2036 $508 $614 $188 $125 $150 $173,652
2036 $6,216 $7,255 $2,250 $1,500 $1,800 $173,652
Jan, 2037 $506 $616 $188 $125 $150 $173,036
Feb, 2037 $505 $618 $188 $125 $150 $172,418
Mar, 2037 $503 $620 $188 $125 $150 $171,798
Apr, 2037 $501 $622 $188 $125 $150 $171,176
May, 2037 $499 $623 $188 $125 $150 $170,553
Jun, 2037 $497 $625 $188 $125 $150 $169,928
Jul, 2037 $496 $627 $188 $125 $150 $169,301
Aug, 2037 $494 $629 $188 $125 $150 $168,672
Sep, 2037 $492 $631 $188 $125 $150 $168,041
Oct, 2037 $490 $632 $188 $125 $150 $167,409
Nov, 2037 $488 $634 $188 $125 $150 $166,775
Dec, 2037 $486 $636 $188 $125 $150 $166,138
2037 $5,958 $7,513 $2,250 $1,500 $1,800 $166,138
Jan, 2038 $485 $638 $188 $125 $150 $165,500
Feb, 2038 $483 $640 $188 $125 $150 $164,860
Mar, 2038 $481 $642 $188 $125 $150 $164,219
Apr, 2038 $479 $644 $188 $125 $150 $163,575
May, 2038 $477 $646 $188 $125 $150 $162,929
Jun, 2038 $475 $647 $188 $125 $150 $162,282
Jul, 2038 $473 $649 $188 $125 $150 $161,633
Aug, 2038 $471 $651 $188 $125 $150 $160,982
Sep, 2038 $470 $653 $188 $125 $150 $160,329
Oct, 2038 $468 $655 $188 $125 $150 $159,674
Nov, 2038 $466 $657 $188 $125 $150 $159,017
Dec, 2038 $464 $659 $188 $125 $150 $158,358
2038 $5,691 $7,781 $2,250 $1,500 $1,800 $158,358
Jan, 2039 $462 $661 $188 $125 $150 $157,697
Feb, 2039 $460 $663 $188 $125 $150 $157,034
Mar, 2039 $458 $665 $188 $125 $150 $156,370
Apr, 2039 $456 $667 $188 $125 $150 $155,703
May, 2039 $454 $668 $188 $125 $150 $155,035
Jun, 2039 $452 $670 $188 $125 $150 $154,364
Jul, 2039 $450 $672 $188 $125 $150 $153,692
Aug, 2039 $448 $674 $188 $125 $150 $153,018
Sep, 2039 $446 $676 $188 $125 $150 $152,341
Oct, 2039 $444 $678 $188 $125 $150 $151,663
Nov, 2039 $442 $680 $188 $125 $150 $150,983
Dec, 2039 $440 $682 $188 $125 $150 $150,301
2039 $5,414 $8,057 $2,250 $1,500 $1,800 $150,301
Jan, 2040 $438 $684 $188 $125 $150 $149,616
Feb, 2040 $436 $686 $188 $125 $150 $148,930
Mar, 2040 $434 $688 $188 $125 $150 $148,242
Apr, 2040 $432 $690 $188 $125 $150 $147,552
May, 2040 $430 $692 $188 $125 $150 $146,859
Jun, 2040 $428 $694 $188 $125 $150 $146,165
Jul, 2040 $426 $696 $188 $125 $150 $145,469
Aug, 2040 $424 $698 $188 $125 $150 $144,770
Sep, 2040 $422 $700 $188 $125 $150 $144,070
Oct, 2040 $420 $702 $188 $125 $150 $143,368
Nov, 2040 $418 $704 $188 $125 $150 $142,663
Dec, 2040 $416 $707 $188 $125 $150 $141,957
2040 $5,128 $8,344 $2,250 $1,500 $1,800 $141,957
Jan, 2041 $414 $709 $188 $125 $150 $141,248
Feb, 2041 $412 $711 $188 $125 $150 $140,538
Mar, 2041 $410 $713 $188 $125 $150 $139,825
Apr, 2041 $408 $715 $188 $125 $150 $139,110
May, 2041 $406 $717 $188 $125 $150 $138,393
Jun, 2041 $404 $719 $188 $125 $150 $137,674
Jul, 2041 $402 $721 $188 $125 $150 $136,953
Aug, 2041 $399 $723 $188 $125 $150 $136,230
Sep, 2041 $397 $725 $188 $125 $150 $135,505
Oct, 2041 $395 $727 $188 $125 $150 $134,777
Nov, 2041 $393 $730 $188 $125 $150 $134,048
Dec, 2041 $391 $732 $188 $125 $150 $133,316
2041 $4,831 $8,641 $2,250 $1,500 $1,800 $133,316
Jan, 2042 $389 $734 $188 $125 $150 $132,582
Feb, 2042 $387 $736 $188 $125 $150 $131,846
Mar, 2042 $385 $738 $188 $125 $150 $131,108
Apr, 2042 $382 $740 $188 $125 $150 $130,368
May, 2042 $380 $742 $188 $125 $150 $129,626
Jun, 2042 $378 $745 $188 $125 $150 $128,881
Jul, 2042 $376 $747 $188 $125 $150 $128,135
Aug, 2042 $374 $749 $188 $125 $150 $127,386
Sep, 2042 $372 $751 $188 $125 $150 $126,635
Oct, 2042 $369 $753 $188 $125 $150 $125,881
Nov, 2042 $367 $755 $188 $125 $150 $125,126
Dec, 2042 $365 $758 $188 $125 $150 $124,368
2042 $4,523 $8,948 $2,250 $1,500 $1,800 $124,368
Jan, 2043 $363 $760 $188 $125 $150 $123,608
Feb, 2043 $361 $762 $188 $125 $150 $122,846
Mar, 2043 $358 $764 $188 $125 $150 $122,082
Apr, 2043 $356 $767 $188 $125 $150 $121,315
May, 2043 $354 $769 $188 $125 $150 $120,547
Jun, 2043 $352 $771 $188 $125 $150 $119,776
Jul, 2043 $349 $773 $188 $125 $150 $119,002
Aug, 2043 $347 $776 $188 $125 $150 $118,227
Sep, 2043 $345 $778 $188 $125 $150 $117,449
Oct, 2043 $343 $780 $188 $125 $150 $116,669
Nov, 2043 $340 $782 $188 $125 $150 $115,887
Dec, 2043 $338 $785 $188 $125 $150 $115,102
2043 $4,205 $9,266 $2,250 $1,500 $1,800 $115,102
Jan, 2044 $336 $787 $188 $125 $150 $114,315
Feb, 2044 $333 $789 $188 $125 $150 $113,526
Mar, 2044 $331 $791 $188 $125 $150 $112,735
Apr, 2044 $329 $794 $188 $125 $150 $111,941
May, 2044 $326 $796 $188 $125 $150 $111,145
Jun, 2044 $324 $798 $188 $125 $150 $110,346
Jul, 2044 $322 $801 $188 $125 $150 $109,545
Aug, 2044 $320 $803 $188 $125 $150 $108,742
Sep, 2044 $317 $805 $188 $125 $150 $107,937
Oct, 2044 $315 $808 $188 $125 $150 $107,129
Nov, 2044 $312 $810 $188 $125 $150 $106,319
Dec, 2044 $310 $813 $188 $125 $150 $105,506
2044 $3,876 $9,596 $2,250 $1,500 $1,800 $105,506
Jan, 2045 $308 $815 $188 $125 $150 $104,691
Feb, 2045 $305 $817 $188 $125 $150 $103,874
Mar, 2045 $303 $820 $188 $125 $150 $103,055
Apr, 2045 $301 $822 $188 $125 $150 $102,233
May, 2045 $298 $824 $188 $125 $150 $101,408
Jun, 2045 $296 $827 $188 $125 $150 $100,581
Jul, 2045 $293 $829 $188 $125 $150 $99,752
Aug, 2045 $291 $832 $188 $125 $150 $98,920
Sep, 2045 $289 $834 $188 $125 $150 $98,086
Oct, 2045 $286 $837 $188 $125 $150 $97,250
Nov, 2045 $284 $839 $188 $125 $150 $96,411
Dec, 2045 $281 $841 $188 $125 $150 $95,569
2045 $3,534 $9,937 $2,250 $1,500 $1,800 $95,569
Jan, 2046 $279 $844 $188 $125 $150 $94,725
Feb, 2046 $276 $846 $188 $125 $150 $93,879
Mar, 2046 $274 $849 $188 $125 $150 $93,030
Apr, 2046 $271 $851 $188 $125 $150 $92,179
May, 2046 $269 $854 $188 $125 $150 $91,325
Jun, 2046 $266 $856 $188 $125 $150 $90,469
Jul, 2046 $264 $859 $188 $125 $150 $89,610
Aug, 2046 $261 $861 $188 $125 $150 $88,749
Sep, 2046 $259 $864 $188 $125 $150 $87,885
Oct, 2046 $256 $866 $188 $125 $150 $87,019
Nov, 2046 $254 $869 $188 $125 $150 $86,150
Dec, 2046 $251 $871 $188 $125 $150 $85,279
2046 $3,181 $10,290 $2,250 $1,500 $1,800 $85,279
Jan, 2047 $249 $874 $188 $125 $150 $84,405
Feb, 2047 $246 $876 $188 $125 $150 $83,529
Mar, 2047 $244 $879 $188 $125 $150 $82,650
Apr, 2047 $241 $882 $188 $125 $150 $81,768
May, 2047 $238 $884 $188 $125 $150 $80,884
Jun, 2047 $236 $887 $188 $125 $150 $79,997
Jul, 2047 $233 $889 $188 $125 $150 $79,108
Aug, 2047 $231 $892 $188 $125 $150 $78,216
Sep, 2047 $228 $894 $188 $125 $150 $77,322
Oct, 2047 $226 $897 $188 $125 $150 $76,424
Nov, 2047 $223 $900 $188 $125 $150 $75,525
Dec, 2047 $220 $902 $188 $125 $150 $74,622
2047 $2,815 $10,656 $2,250 $1,500 $1,800 $74,622
Jan, 2048 $218 $905 $188 $125 $150 $73,717
Feb, 2048 $215 $908 $188 $125 $150 $72,810
Mar, 2048 $212 $910 $188 $125 $150 $71,900
Apr, 2048 $210 $913 $188 $125 $150 $70,987
May, 2048 $207 $916 $188 $125 $150 $70,071
Jun, 2048 $204 $918 $188 $125 $150 $69,153
Jul, 2048 $202 $921 $188 $125 $150 $68,232
Aug, 2048 $199 $924 $188 $125 $150 $67,308
Sep, 2048 $196 $926 $188 $125 $150 $66,382
Oct, 2048 $194 $929 $188 $125 $150 $65,453
Nov, 2048 $191 $932 $188 $125 $150 $64,521
Dec, 2048 $188 $934 $188 $125 $150 $63,587
2048 $2,436 $11,035 $2,250 $1,500 $1,800 $63,587
Jan, 2049 $185 $937 $188 $125 $150 $62,650
Feb, 2049 $183 $940 $188 $125 $150 $61,710
Mar, 2049 $180 $943 $188 $125 $150 $60,767
Apr, 2049 $177 $945 $188 $125 $150 $59,822
May, 2049 $174 $948 $188 $125 $150 $58,874
Jun, 2049 $172 $951 $188 $125 $150 $57,923
Jul, 2049 $169 $954 $188 $125 $150 $56,969
Aug, 2049 $166 $956 $188 $125 $150 $56,013
Sep, 2049 $163 $959 $188 $125 $150 $55,054
Oct, 2049 $161 $962 $188 $125 $150 $54,092
Nov, 2049 $158 $965 $188 $125 $150 $53,127
Dec, 2049 $155 $968 $188 $125 $150 $52,159
2049 $2,043 $11,428 $2,250 $1,500 $1,800 $52,159
Jan, 2050 $152 $970 $188 $125 $150 $51,189
Feb, 2050 $149 $973 $188 $125 $150 $50,215
Mar, 2050 $146 $976 $188 $125 $150 $49,239
Apr, 2050 $144 $979 $188 $125 $150 $48,260
May, 2050 $141 $982 $188 $125 $150 $47,278
Jun, 2050 $138 $985 $188 $125 $150 $46,294
Jul, 2050 $135 $988 $188 $125 $150 $45,306
Aug, 2050 $132 $990 $188 $125 $150 $44,315
Sep, 2050 $129 $993 $188 $125 $150 $43,322
Oct, 2050 $126 $996 $188 $125 $150 $42,326
Nov, 2050 $123 $999 $188 $125 $150 $41,327
Dec, 2050 $121 $1,002 $188 $125 $150 $40,325
2050 $1,637 $11,834 $2,250 $1,500 $1,800 $40,325
Jan, 2051 $118 $1,005 $188 $125 $150 $39,320
Feb, 2051 $115 $1,008 $188 $125 $150 $38,312
Mar, 2051 $112 $1,011 $188 $125 $150 $37,301
Apr, 2051 $109 $1,014 $188 $125 $150 $36,287
May, 2051 $106 $1,017 $188 $125 $150 $35,270
Jun, 2051 $103 $1,020 $188 $125 $150 $34,250
Jul, 2051 $100 $1,023 $188 $125 $150 $33,228
Aug, 2051 $97 $1,026 $188 $125 $150 $32,202
Sep, 2051 $94 $1,029 $188 $125 $150 $31,173
Oct, 2051 $91 $1,032 $188 $125 $150 $30,142
Nov, 2051 $88 $1,035 $188 $125 $150 $29,107
Dec, 2051 $85 $1,038 $188 $125 $150 $28,069
2051 $1,216 $12,255 $2,250 $1,500 $1,800 $28,069
Jan, 2052 $82 $1,041 $188 $125 $150 $27,029
Feb, 2052 $79 $1,044 $188 $125 $150 $25,985
Mar, 2052 $76 $1,047 $188 $125 $150 $24,938
Apr, 2052 $73 $1,050 $188 $125 $150 $23,888
May, 2052 $70 $1,053 $188 $125 $150 $22,835
Jun, 2052 $67 $1,056 $188 $125 $150 $21,779
Jul, 2052 $64 $1,059 $188 $125 $150 $20,720
Aug, 2052 $60 $1,062 $188 $125 $150 $19,658
Sep, 2052 $57 $1,065 $188 $125 $150 $18,593
Oct, 2052 $54 $1,068 $188 $125 $150 $17,524
Nov, 2052 $51 $1,071 $188 $125 $150 $16,453
Dec, 2052 $48 $1,075 $188 $125 $150 $15,378
2052 $780 $12,691 $2,250 $1,500 $1,800 $15,378
Jan, 2053 $45 $1,078 $188 $125 $150 $14,300
Feb, 2053 $42 $1,081 $188 $125 $150 $13,219
Mar, 2053 $39 $1,084 $188 $125 $150 $12,135
Apr, 2053 $35 $1,087 $188 $125 $150 $11,048
May, 2053 $32 $1,090 $188 $125 $150 $9,958
Jun, 2053 $29 $1,094 $188 $125 $150 $8,864
Jul, 2053 $26 $1,097 $188 $125 $150 $7,767
Aug, 2053 $23 $1,100 $188 $125 $150 $6,667
Sep, 2053 $19 $1,103 $188 $125 $150 $5,564
Oct, 2053 $16 $1,106 $188 $125 $150 $4,458
Nov, 2053 $13 $1,110 $188 $125 $150 $3,348
Dec, 2053 $10 $1,113 $188 $125 $150 $2,235
2053 $329 $13,143 $2,250 $1,500 $1,800 $2,235
Jan, 2054 $7 $1,116 $188 $125 $150 $1,119
Feb, 2054 $3 $1,119 $188 $125 $150 $0
2054 $10 $2,235 $375 $250 $300 $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.