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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Oct, 2021 Sep, 2051
Loan Closing Loan Payoff

Compare Virginia Mortgage Rates

740-850 FICO UP TO 2.0 POINTS

OCT 21, 2021

 
2.997%
APR
$1,038
per month
30 Year
Fixed
Rate: 2.875%
Fees: $3,958
Points: 1.583
Lock: 30 days
View Details
2.995%
APR
$1,034
per month
30 Year
Fixed
Rate: 2.850%
Fees: $4,690
Points: 1.876
Lock: 30 days
View Details
2.951%
APR
$1,021
per month
30 Year
Fixed
Rate: 2.750%
Fees: $6,556
Points: 1.971
Lock: 30 days
View Details
2.769%
APR
$1,005
per month
30 Year
Fixed
Rate: 2.625%
Fees: $4,750
Points: 1.900
Lock: 45 days
View Details
3.447%
APR
$1,089
per month
30 Year
Fixed
Rate: 3.250%
Fees: $6,250
Points: 2.000
Lock: 30 days
View Details
2.997%
APR
$1,038
per month
30 Year
Fixed
Rate: 2.875%
Fees: $3,958
Points: 1.583
Lock: 30 days
View Details
2.951%
APR
$1,021
per month
30 Year
Fixed
Rate: 2.750%
Fees: $6,556
Points: 1.971
Lock: 30 days
View Details
3.417%
APR
$1,089
per month
30 Year
Fixed
Rate: 3.250%
Fees: $5,312
Points: 1.625
Lock: 30 days
View Details
2.995%
APR
$1,034
per month
30 Year
Fixed
Rate: 2.850%
Fees: $4,690
Points: 1.876
Lock: 30 days
View Details
2.747%
APR
$1,005
per month
30 Year
Fixed
Rate: 2.625%
Fees: $4,008
Points: 1.603
Lock: 30 days
View Details
  Monthly Annual Total of 360 Payments
Principal $393 — $1,119 $1,184 — $12,877 $250,000
Interest $3 — $729 $146 — $8,631 $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
Oct, 2021 $729 $393 $188 $125 $150 $249,607
Nov, 2021 $728 $395 $188 $125 $150 $249,212
Dec, 2021 $727 $396 $188 $125 $150 $248,816
2021 $2,184 $1,184 $563 $375 $450 $248,816
Jan, 2022 $726 $397 $188 $125 $150 $248,419
Feb, 2022 $725 $398 $188 $125 $150 $248,021
Mar, 2022 $723 $399 $188 $125 $150 $247,622
Apr, 2022 $722 $400 $188 $125 $150 $247,222
May, 2022 $721 $402 $188 $125 $150 $246,820
Jun, 2022 $720 $403 $188 $125 $150 $246,417
Jul, 2022 $719 $404 $188 $125 $150 $246,014
Aug, 2022 $718 $405 $188 $125 $150 $245,608
Sep, 2022 $716 $406 $188 $125 $150 $245,202
Oct, 2022 $715 $407 $188 $125 $150 $244,795
Nov, 2022 $714 $409 $188 $125 $150 $244,386
Dec, 2022 $713 $410 $188 $125 $150 $243,976
2022 $8,631 $4,840 $2,250 $1,500 $1,800 $243,976
Jan, 2023 $712 $411 $188 $125 $150 $243,565
Feb, 2023 $710 $412 $188 $125 $150 $243,153
Mar, 2023 $709 $413 $188 $125 $150 $242,740
Apr, 2023 $708 $415 $188 $125 $150 $242,325
May, 2023 $707 $416 $188 $125 $150 $241,909
Jun, 2023 $706 $417 $188 $125 $150 $241,492
Jul, 2023 $704 $418 $188 $125 $150 $241,074
Aug, 2023 $703 $419 $188 $125 $150 $240,654
Sep, 2023 $702 $421 $188 $125 $150 $240,234
Oct, 2023 $701 $422 $188 $125 $150 $239,812
Nov, 2023 $699 $423 $188 $125 $150 $239,389
Dec, 2023 $698 $424 $188 $125 $150 $238,964
2023 $8,459 $5,012 $2,250 $1,500 $1,800 $238,964
Jan, 2024 $697 $426 $188 $125 $150 $238,539
Feb, 2024 $696 $427 $188 $125 $150 $238,112
Mar, 2024 $694 $428 $188 $125 $150 $237,684
Apr, 2024 $693 $429 $188 $125 $150 $237,254
May, 2024 $692 $431 $188 $125 $150 $236,824
Jun, 2024 $691 $432 $188 $125 $150 $236,392
Jul, 2024 $689 $433 $188 $125 $150 $235,959
Aug, 2024 $688 $434 $188 $125 $150 $235,524
Sep, 2024 $687 $436 $188 $125 $150 $235,089
Oct, 2024 $686 $437 $188 $125 $150 $234,652
Nov, 2024 $684 $438 $188 $125 $150 $234,213
Dec, 2024 $683 $439 $188 $125 $150 $233,774
2024 $8,281 $5,190 $2,250 $1,500 $1,800 $233,774
Jan, 2025 $682 $441 $188 $125 $150 $233,333
Feb, 2025 $681 $442 $188 $125 $150 $232,891
Mar, 2025 $679 $443 $188 $125 $150 $232,448
Apr, 2025 $678 $445 $188 $125 $150 $232,003
May, 2025 $677 $446 $188 $125 $150 $231,557
Jun, 2025 $675 $447 $188 $125 $150 $231,110
Jul, 2025 $674 $449 $188 $125 $150 $230,661
Aug, 2025 $673 $450 $188 $125 $150 $230,212
Sep, 2025 $671 $451 $188 $125 $150 $229,760
Oct, 2025 $670 $452 $188 $125 $150 $229,308
Nov, 2025 $669 $454 $188 $125 $150 $228,854
Dec, 2025 $667 $455 $188 $125 $150 $228,399
2025 $8,096 $5,375 $2,250 $1,500 $1,800 $228,399
Jan, 2026 $666 $456 $188 $125 $150 $227,943
Feb, 2026 $665 $458 $188 $125 $150 $227,485
Mar, 2026 $663 $459 $188 $125 $150 $227,026
Apr, 2026 $662 $460 $188 $125 $150 $226,565
May, 2026 $661 $462 $188 $125 $150 $226,103
Jun, 2026 $659 $463 $188 $125 $150 $225,640
Jul, 2026 $658 $464 $188 $125 $150 $225,176
Aug, 2026 $657 $466 $188 $125 $150 $224,710
Sep, 2026 $655 $467 $188 $125 $150 $224,243
Oct, 2026 $654 $469 $188 $125 $150 $223,774
Nov, 2026 $653 $470 $188 $125 $150 $223,304
Dec, 2026 $651 $471 $188 $125 $150 $222,833
2026 $7,905 $5,566 $2,250 $1,500 $1,800 $222,833
Jan, 2027 $650 $473 $188 $125 $150 $222,360
Feb, 2027 $649 $474 $188 $125 $150 $221,886
Mar, 2027 $647 $475 $188 $125 $150 $221,411
Apr, 2027 $646 $477 $188 $125 $150 $220,934
May, 2027 $644 $478 $188 $125 $150 $220,456
Jun, 2027 $643 $480 $188 $125 $150 $219,976
Jul, 2027 $642 $481 $188 $125 $150 $219,495
Aug, 2027 $640 $482 $188 $125 $150 $219,013
Sep, 2027 $639 $484 $188 $125 $150 $218,529
Oct, 2027 $637 $485 $188 $125 $150 $218,044
Nov, 2027 $636 $487 $188 $125 $150 $217,557
Dec, 2027 $635 $488 $188 $125 $150 $217,069
2027 $7,707 $5,764 $2,250 $1,500 $1,800 $217,069
Jan, 2028 $633 $489 $188 $125 $150 $216,579
Feb, 2028 $632 $491 $188 $125 $150 $216,088
Mar, 2028 $630 $492 $188 $125 $150 $215,596
Apr, 2028 $629 $494 $188 $125 $150 $215,102
May, 2028 $627 $495 $188 $125 $150 $214,607
Jun, 2028 $626 $497 $188 $125 $150 $214,110
Jul, 2028 $624 $498 $188 $125 $150 $213,612
Aug, 2028 $623 $500 $188 $125 $150 $213,113
Sep, 2028 $622 $501 $188 $125 $150 $212,612
Oct, 2028 $620 $502 $188 $125 $150 $212,109
Nov, 2028 $619 $504 $188 $125 $150 $211,605
Dec, 2028 $617 $505 $188 $125 $150 $211,100
2028 $7,502 $5,969 $2,250 $1,500 $1,800 $211,100
Jan, 2029 $616 $507 $188 $125 $150 $210,593
Feb, 2029 $614 $508 $188 $125 $150 $210,084
Mar, 2029 $613 $510 $188 $125 $150 $209,575
Apr, 2029 $611 $511 $188 $125 $150 $209,063
May, 2029 $610 $513 $188 $125 $150 $208,550
Jun, 2029 $608 $514 $188 $125 $150 $208,036
Jul, 2029 $607 $516 $188 $125 $150 $207,520
Aug, 2029 $605 $517 $188 $125 $150 $207,003
Sep, 2029 $604 $519 $188 $125 $150 $206,484
Oct, 2029 $602 $520 $188 $125 $150 $205,964
Nov, 2029 $601 $522 $188 $125 $150 $205,442
Dec, 2029 $599 $523 $188 $125 $150 $204,918
2029 $7,290 $6,181 $2,250 $1,500 $1,800 $204,918
Jan, 2030 $598 $525 $188 $125 $150 $204,393
Feb, 2030 $596 $526 $188 $125 $150 $203,867
Mar, 2030 $595 $528 $188 $125 $150 $203,339
Apr, 2030 $593 $530 $188 $125 $150 $202,809
May, 2030 $592 $531 $188 $125 $150 $202,278
Jun, 2030 $590 $533 $188 $125 $150 $201,746
Jul, 2030 $588 $534 $188 $125 $150 $201,211
Aug, 2030 $587 $536 $188 $125 $150 $200,676
Sep, 2030 $585 $537 $188 $125 $150 $200,138
Oct, 2030 $584 $539 $188 $125 $150 $199,600
Nov, 2030 $582 $540 $188 $125 $150 $199,059
Dec, 2030 $581 $542 $188 $125 $150 $198,517
2030 $7,070 $6,401 $2,250 $1,500 $1,800 $198,517
Jan, 2031 $579 $544 $188 $125 $150 $197,973
Feb, 2031 $577 $545 $188 $125 $150 $197,428
Mar, 2031 $576 $547 $188 $125 $150 $196,882
Apr, 2031 $574 $548 $188 $125 $150 $196,333
May, 2031 $573 $550 $188 $125 $150 $195,783
Jun, 2031 $571 $552 $188 $125 $150 $195,232
Jul, 2031 $569 $553 $188 $125 $150 $194,678
Aug, 2031 $568 $555 $188 $125 $150 $194,124
Sep, 2031 $566 $556 $188 $125 $150 $193,567
Oct, 2031 $565 $558 $188 $125 $150 $193,009
Nov, 2031 $563 $560 $188 $125 $150 $192,449
Dec, 2031 $561 $561 $188 $125 $150 $191,888
2031 $6,842 $6,629 $2,250 $1,500 $1,800 $191,888
Jan, 2032 $560 $563 $188 $125 $150 $191,325
Feb, 2032 $558 $565 $188 $125 $150 $190,761
Mar, 2032 $556 $566 $188 $125 $150 $190,194
Apr, 2032 $555 $568 $188 $125 $150 $189,627
May, 2032 $553 $570 $188 $125 $150 $189,057
Jun, 2032 $551 $571 $188 $125 $150 $188,486
Jul, 2032 $550 $573 $188 $125 $150 $187,913
Aug, 2032 $548 $575 $188 $125 $150 $187,338
Sep, 2032 $546 $576 $188 $125 $150 $186,762
Oct, 2032 $545 $578 $188 $125 $150 $186,184
Nov, 2032 $543 $580 $188 $125 $150 $185,605
Dec, 2032 $541 $581 $188 $125 $150 $185,023
2032 $6,607 $6,865 $2,250 $1,500 $1,800 $185,023
Jan, 2033 $540 $583 $188 $125 $150 $184,441
Feb, 2033 $538 $585 $188 $125 $150 $183,856
Mar, 2033 $536 $586 $188 $125 $150 $183,270
Apr, 2033 $535 $588 $188 $125 $150 $182,681
May, 2033 $533 $590 $188 $125 $150 $182,092
Jun, 2033 $531 $592 $188 $125 $150 $181,500
Jul, 2033 $529 $593 $188 $125 $150 $180,907
Aug, 2033 $528 $595 $188 $125 $150 $180,312
Sep, 2033 $526 $597 $188 $125 $150 $179,715
Oct, 2033 $524 $598 $188 $125 $150 $179,117
Nov, 2033 $522 $600 $188 $125 $150 $178,517
Dec, 2033 $521 $602 $188 $125 $150 $177,915
2033 $6,363 $7,109 $2,250 $1,500 $1,800 $177,915
Jan, 2034 $519 $604 $188 $125 $150 $177,311
Feb, 2034 $517 $605 $188 $125 $150 $176,706
Mar, 2034 $515 $607 $188 $125 $150 $176,098
Apr, 2034 $514 $609 $188 $125 $150 $175,489
May, 2034 $512 $611 $188 $125 $150 $174,879
Jun, 2034 $510 $613 $188 $125 $150 $174,266
Jul, 2034 $508 $614 $188 $125 $150 $173,652
Aug, 2034 $506 $616 $188 $125 $150 $173,036
Sep, 2034 $505 $618 $188 $125 $150 $172,418
Oct, 2034 $503 $620 $188 $125 $150 $171,798
Nov, 2034 $501 $622 $188 $125 $150 $171,176
Dec, 2034 $499 $623 $188 $125 $150 $170,553
2034 $6,110 $7,362 $2,250 $1,500 $1,800 $170,553
Jan, 2035 $497 $625 $188 $125 $150 $169,928
Feb, 2035 $496 $627 $188 $125 $150 $169,301
Mar, 2035 $494 $629 $188 $125 $150 $168,672
Apr, 2035 $492 $631 $188 $125 $150 $168,041
May, 2035 $490 $632 $188 $125 $150 $167,409
Jun, 2035 $488 $634 $188 $125 $150 $166,775
Jul, 2035 $486 $636 $188 $125 $150 $166,138
Aug, 2035 $485 $638 $188 $125 $150 $165,500
Sep, 2035 $483 $640 $188 $125 $150 $164,860
Oct, 2035 $481 $642 $188 $125 $150 $164,219
Nov, 2035 $479 $644 $188 $125 $150 $163,575
Dec, 2035 $477 $646 $188 $125 $150 $162,929
2035 $5,848 $7,624 $2,250 $1,500 $1,800 $162,929
Jan, 2036 $475 $647 $188 $125 $150 $162,282
Feb, 2036 $473 $649 $188 $125 $150 $161,633
Mar, 2036 $471 $651 $188 $125 $150 $160,982
Apr, 2036 $470 $653 $188 $125 $150 $160,329
May, 2036 $468 $655 $188 $125 $150 $159,674
Jun, 2036 $466 $657 $188 $125 $150 $159,017
Jul, 2036 $464 $659 $188 $125 $150 $158,358
Aug, 2036 $462 $661 $188 $125 $150 $157,697
Sep, 2036 $460 $663 $188 $125 $150 $157,034
Oct, 2036 $458 $665 $188 $125 $150 $156,370
Nov, 2036 $456 $667 $188 $125 $150 $155,703
Dec, 2036 $454 $668 $188 $125 $150 $155,035
2036 $5,577 $7,895 $2,250 $1,500 $1,800 $155,035
Jan, 2037 $452 $670 $188 $125 $150 $154,364
Feb, 2037 $450 $672 $188 $125 $150 $153,692
Mar, 2037 $448 $674 $188 $125 $150 $153,018
Apr, 2037 $446 $676 $188 $125 $150 $152,341
May, 2037 $444 $678 $188 $125 $150 $151,663
Jun, 2037 $442 $680 $188 $125 $150 $150,983
Jul, 2037 $440 $682 $188 $125 $150 $150,301
Aug, 2037 $438 $684 $188 $125 $150 $149,616
Sep, 2037 $436 $686 $188 $125 $150 $148,930
Oct, 2037 $434 $688 $188 $125 $150 $148,242
Nov, 2037 $432 $690 $188 $125 $150 $147,552
Dec, 2037 $430 $692 $188 $125 $150 $146,859
2037 $5,296 $8,175 $2,250 $1,500 $1,800 $146,859
Jan, 2038 $428 $694 $188 $125 $150 $146,165
Feb, 2038 $426 $696 $188 $125 $150 $145,469
Mar, 2038 $424 $698 $188 $125 $150 $144,770
Apr, 2038 $422 $700 $188 $125 $150 $144,070
May, 2038 $420 $702 $188 $125 $150 $143,368
Jun, 2038 $418 $704 $188 $125 $150 $142,663
Jul, 2038 $416 $707 $188 $125 $150 $141,957
Aug, 2038 $414 $709 $188 $125 $150 $141,248
Sep, 2038 $412 $711 $188 $125 $150 $140,538
Oct, 2038 $410 $713 $188 $125 $150 $139,825
Nov, 2038 $408 $715 $188 $125 $150 $139,110
Dec, 2038 $406 $717 $188 $125 $150 $138,393
2038 $5,005 $8,466 $2,250 $1,500 $1,800 $138,393
Jan, 2039 $404 $719 $188 $125 $150 $137,674
Feb, 2039 $402 $721 $188 $125 $150 $136,953
Mar, 2039 $399 $723 $188 $125 $150 $136,230
Apr, 2039 $397 $725 $188 $125 $150 $135,505
May, 2039 $395 $727 $188 $125 $150 $134,777
Jun, 2039 $393 $730 $188 $125 $150 $134,048
Jul, 2039 $391 $732 $188 $125 $150 $133,316
Aug, 2039 $389 $734 $188 $125 $150 $132,582
Sep, 2039 $387 $736 $188 $125 $150 $131,846
Oct, 2039 $385 $738 $188 $125 $150 $131,108
Nov, 2039 $382 $740 $188 $125 $150 $130,368
Dec, 2039 $380 $742 $188 $125 $150 $129,626
2039 $4,704 $8,767 $2,250 $1,500 $1,800 $129,626
Jan, 2040 $378 $745 $188 $125 $150 $128,881
Feb, 2040 $376 $747 $188 $125 $150 $128,135
Mar, 2040 $374 $749 $188 $125 $150 $127,386
Apr, 2040 $372 $751 $188 $125 $150 $126,635
May, 2040 $369 $753 $188 $125 $150 $125,881
Jun, 2040 $367 $755 $188 $125 $150 $125,126
Jul, 2040 $365 $758 $188 $125 $150 $124,368
Aug, 2040 $363 $760 $188 $125 $150 $123,608
Sep, 2040 $361 $762 $188 $125 $150 $122,846
Oct, 2040 $358 $764 $188 $125 $150 $122,082
Nov, 2040 $356 $767 $188 $125 $150 $121,315
Dec, 2040 $354 $769 $188 $125 $150 $120,547
2040 $4,392 $9,079 $2,250 $1,500 $1,800 $120,547
Jan, 2041 $352 $771 $188 $125 $150 $119,776
Feb, 2041 $349 $773 $188 $125 $150 $119,002
Mar, 2041 $347 $776 $188 $125 $150 $118,227
Apr, 2041 $345 $778 $188 $125 $150 $117,449
May, 2041 $343 $780 $188 $125 $150 $116,669
Jun, 2041 $340 $782 $188 $125 $150 $115,887
Jul, 2041 $338 $785 $188 $125 $150 $115,102
Aug, 2041 $336 $787 $188 $125 $150 $114,315
Sep, 2041 $333 $789 $188 $125 $150 $113,526
Oct, 2041 $331 $791 $188 $125 $150 $112,735
Nov, 2041 $329 $794 $188 $125 $150 $111,941
Dec, 2041 $326 $796 $188 $125 $150 $111,145
2041 $4,069 $9,402 $2,250 $1,500 $1,800 $111,145
Jan, 2042 $324 $798 $188 $125 $150 $110,346
Feb, 2042 $322 $801 $188 $125 $150 $109,545
Mar, 2042 $320 $803 $188 $125 $150 $108,742
Apr, 2042 $317 $805 $188 $125 $150 $107,937
May, 2042 $315 $808 $188 $125 $150 $107,129
Jun, 2042 $312 $810 $188 $125 $150 $106,319
Jul, 2042 $310 $813 $188 $125 $150 $105,506
Aug, 2042 $308 $815 $188 $125 $150 $104,691
Sep, 2042 $305 $817 $188 $125 $150 $103,874
Oct, 2042 $303 $820 $188 $125 $150 $103,055
Nov, 2042 $301 $822 $188 $125 $150 $102,233
Dec, 2042 $298 $824 $188 $125 $150 $101,408
2042 $3,735 $9,736 $2,250 $1,500 $1,800 $101,408
Jan, 2043 $296 $827 $188 $125 $150 $100,581
Feb, 2043 $293 $829 $188 $125 $150 $99,752
Mar, 2043 $291 $832 $188 $125 $150 $98,920
Apr, 2043 $289 $834 $188 $125 $150 $98,086
May, 2043 $286 $837 $188 $125 $150 $97,250
Jun, 2043 $284 $839 $188 $125 $150 $96,411
Jul, 2043 $281 $841 $188 $125 $150 $95,569
Aug, 2043 $279 $844 $188 $125 $150 $94,725
Sep, 2043 $276 $846 $188 $125 $150 $93,879
Oct, 2043 $274 $849 $188 $125 $150 $93,030
Nov, 2043 $271 $851 $188 $125 $150 $92,179
Dec, 2043 $269 $854 $188 $125 $150 $91,325
2043 $3,389 $10,083 $2,250 $1,500 $1,800 $91,325
Jan, 2044 $266 $856 $188 $125 $150 $90,469
Feb, 2044 $264 $859 $188 $125 $150 $89,610
Mar, 2044 $261 $861 $188 $125 $150 $88,749
Apr, 2044 $259 $864 $188 $125 $150 $87,885
May, 2044 $256 $866 $188 $125 $150 $87,019
Jun, 2044 $254 $869 $188 $125 $150 $86,150
Jul, 2044 $251 $871 $188 $125 $150 $85,279
Aug, 2044 $249 $874 $188 $125 $150 $84,405
Sep, 2044 $246 $876 $188 $125 $150 $83,529
Oct, 2044 $244 $879 $188 $125 $150 $82,650
Nov, 2044 $241 $882 $188 $125 $150 $81,768
Dec, 2044 $238 $884 $188 $125 $150 $80,884
2044 $3,030 $10,441 $2,250 $1,500 $1,800 $80,884
Jan, 2045 $236 $887 $188 $125 $150 $79,997
Feb, 2045 $233 $889 $188 $125 $150 $79,108
Mar, 2045 $231 $892 $188 $125 $150 $78,216
Apr, 2045 $228 $894 $188 $125 $150 $77,322
May, 2045 $226 $897 $188 $125 $150 $76,424
Jun, 2045 $223 $900 $188 $125 $150 $75,525
Jul, 2045 $220 $902 $188 $125 $150 $74,622
Aug, 2045 $218 $905 $188 $125 $150 $73,717
Sep, 2045 $215 $908 $188 $125 $150 $72,810
Oct, 2045 $212 $910 $188 $125 $150 $71,900
Nov, 2045 $210 $913 $188 $125 $150 $70,987
Dec, 2045 $207 $916 $188 $125 $150 $70,071
2045 $2,659 $10,813 $2,250 $1,500 $1,800 $70,071
Jan, 2046 $204 $918 $188 $125 $150 $69,153
Feb, 2046 $202 $921 $188 $125 $150 $68,232
Mar, 2046 $199 $924 $188 $125 $150 $67,308
Apr, 2046 $196 $926 $188 $125 $150 $66,382
May, 2046 $194 $929 $188 $125 $150 $65,453
Jun, 2046 $191 $932 $188 $125 $150 $64,521
Jul, 2046 $188 $934 $188 $125 $150 $63,587
Aug, 2046 $185 $937 $188 $125 $150 $62,650
Sep, 2046 $183 $940 $188 $125 $150 $61,710
Oct, 2046 $180 $943 $188 $125 $150 $60,767
Nov, 2046 $177 $945 $188 $125 $150 $59,822
Dec, 2046 $174 $948 $188 $125 $150 $58,874
2046 $2,274 $11,197 $2,250 $1,500 $1,800 $58,874
Jan, 2047 $172 $951 $188 $125 $150 $57,923
Feb, 2047 $169 $954 $188 $125 $150 $56,969
Mar, 2047 $166 $956 $188 $125 $150 $56,013
Apr, 2047 $163 $959 $188 $125 $150 $55,054
May, 2047 $161 $962 $188 $125 $150 $54,092
Jun, 2047 $158 $965 $188 $125 $150 $53,127
Jul, 2047 $155 $968 $188 $125 $150 $52,159
Aug, 2047 $152 $970 $188 $125 $150 $51,189
Sep, 2047 $149 $973 $188 $125 $150 $50,215
Oct, 2047 $146 $976 $188 $125 $150 $49,239
Nov, 2047 $144 $979 $188 $125 $150 $48,260
Dec, 2047 $141 $982 $188 $125 $150 $47,278
2047 $1,876 $11,596 $2,250 $1,500 $1,800 $47,278
Jan, 2048 $138 $985 $188 $125 $150 $46,294
Feb, 2048 $135 $988 $188 $125 $150 $45,306
Mar, 2048 $132 $990 $188 $125 $150 $44,315
Apr, 2048 $129 $993 $188 $125 $150 $43,322
May, 2048 $126 $996 $188 $125 $150 $42,326
Jun, 2048 $123 $999 $188 $125 $150 $41,327
Jul, 2048 $121 $1,002 $188 $125 $150 $40,325
Aug, 2048 $118 $1,005 $188 $125 $150 $39,320
Sep, 2048 $115 $1,008 $188 $125 $150 $38,312
Oct, 2048 $112 $1,011 $188 $125 $150 $37,301
Nov, 2048 $109 $1,014 $188 $125 $150 $36,287
Dec, 2048 $106 $1,017 $188 $125 $150 $35,270
2048 $1,463 $12,008 $2,250 $1,500 $1,800 $35,270
Jan, 2049 $103 $1,020 $188 $125 $150 $34,250
Feb, 2049 $100 $1,023 $188 $125 $150 $33,228
Mar, 2049 $97 $1,026 $188 $125 $150 $32,202
Apr, 2049 $94 $1,029 $188 $125 $150 $31,173
May, 2049 $91 $1,032 $188 $125 $150 $30,142
Jun, 2049 $88 $1,035 $188 $125 $150 $29,107
Jul, 2049 $85 $1,038 $188 $125 $150 $28,069
Aug, 2049 $82 $1,041 $188 $125 $150 $27,029
Sep, 2049 $79 $1,044 $188 $125 $150 $25,985
Oct, 2049 $76 $1,047 $188 $125 $150 $24,938
Nov, 2049 $73 $1,050 $188 $125 $150 $23,888
Dec, 2049 $70 $1,053 $188 $125 $150 $22,835
2049 $1,036 $12,435 $2,250 $1,500 $1,800 $22,835
Jan, 2050 $67 $1,056 $188 $125 $150 $21,779
Feb, 2050 $64 $1,059 $188 $125 $150 $20,720
Mar, 2050 $60 $1,062 $188 $125 $150 $19,658
Apr, 2050 $57 $1,065 $188 $125 $150 $18,593
May, 2050 $54 $1,068 $188 $125 $150 $17,524
Jun, 2050 $51 $1,071 $188 $125 $150 $16,453
Jul, 2050 $48 $1,075 $188 $125 $150 $15,378
Aug, 2050 $45 $1,078 $188 $125 $150 $14,300
Sep, 2050 $42 $1,081 $188 $125 $150 $13,219
Oct, 2050 $39 $1,084 $188 $125 $150 $12,135
Nov, 2050 $35 $1,087 $188 $125 $150 $11,048
Dec, 2050 $32 $1,090 $188 $125 $150 $9,958
2050 $594 $12,877 $2,250 $1,500 $1,800 $9,958
Jan, 2051 $29 $1,094 $188 $125 $150 $8,864
Feb, 2051 $26 $1,097 $188 $125 $150 $7,767
Mar, 2051 $23 $1,100 $188 $125 $150 $6,667
Apr, 2051 $19 $1,103 $188 $125 $150 $5,564
May, 2051 $16 $1,106 $188 $125 $150 $4,458
Jun, 2051 $13 $1,110 $188 $125 $150 $3,348
Jul, 2051 $10 $1,113 $188 $125 $150 $2,235
Aug, 2051 $7 $1,116 $188 $125 $150 $1,119
Sep, 2051 $3 $1,119 $188 $125 $150 $0
2051 $146 $9,958 $1,688 $1,125 $1,350 $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.