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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Jun, 2023 May, 2053
Loan Closing Loan Payoff

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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 $2,778 — $13,028 $250,000
Interest $3 — $729 $49 — $8,575 $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
Jun, 2023 $729 $393 $188 $125 $150 $249,607
Jul, 2023 $728 $395 $188 $125 $150 $249,212
Aug, 2023 $727 $396 $188 $125 $150 $248,816
Sep, 2023 $726 $397 $188 $125 $150 $248,419
Oct, 2023 $725 $398 $188 $125 $150 $248,021
Nov, 2023 $723 $399 $188 $125 $150 $247,622
Dec, 2023 $722 $400 $188 $125 $150 $247,222
2023 $5,080 $2,778 $1,313 $875 $1,050 $247,222
Jan, 2024 $721 $402 $188 $125 $150 $246,820
Feb, 2024 $720 $403 $188 $125 $150 $246,417
Mar, 2024 $719 $404 $188 $125 $150 $246,014
Apr, 2024 $718 $405 $188 $125 $150 $245,608
May, 2024 $716 $406 $188 $125 $150 $245,202
Jun, 2024 $715 $407 $188 $125 $150 $244,795
Jul, 2024 $714 $409 $188 $125 $150 $244,386
Aug, 2024 $713 $410 $188 $125 $150 $243,976
Sep, 2024 $712 $411 $188 $125 $150 $243,565
Oct, 2024 $710 $412 $188 $125 $150 $243,153
Nov, 2024 $709 $413 $188 $125 $150 $242,740
Dec, 2024 $708 $415 $188 $125 $150 $242,325
2024 $8,575 $4,897 $2,250 $1,500 $1,800 $242,325
Jan, 2025 $707 $416 $188 $125 $150 $241,909
Feb, 2025 $706 $417 $188 $125 $150 $241,492
Mar, 2025 $704 $418 $188 $125 $150 $241,074
Apr, 2025 $703 $419 $188 $125 $150 $240,654
May, 2025 $702 $421 $188 $125 $150 $240,234
Jun, 2025 $701 $422 $188 $125 $150 $239,812
Jul, 2025 $699 $423 $188 $125 $150 $239,389
Aug, 2025 $698 $424 $188 $125 $150 $238,964
Sep, 2025 $697 $426 $188 $125 $150 $238,539
Oct, 2025 $696 $427 $188 $125 $150 $238,112
Nov, 2025 $694 $428 $188 $125 $150 $237,684
Dec, 2025 $693 $429 $188 $125 $150 $237,254
2025 $8,401 $5,071 $2,250 $1,500 $1,800 $237,254
Jan, 2026 $692 $431 $188 $125 $150 $236,824
Feb, 2026 $691 $432 $188 $125 $150 $236,392
Mar, 2026 $689 $433 $188 $125 $150 $235,959
Apr, 2026 $688 $434 $188 $125 $150 $235,524
May, 2026 $687 $436 $188 $125 $150 $235,089
Jun, 2026 $686 $437 $188 $125 $150 $234,652
Jul, 2026 $684 $438 $188 $125 $150 $234,213
Aug, 2026 $683 $439 $188 $125 $150 $233,774
Sep, 2026 $682 $441 $188 $125 $150 $233,333
Oct, 2026 $681 $442 $188 $125 $150 $232,891
Nov, 2026 $679 $443 $188 $125 $150 $232,448
Dec, 2026 $678 $445 $188 $125 $150 $232,003
2026 $8,220 $5,251 $2,250 $1,500 $1,800 $232,003
Jan, 2027 $677 $446 $188 $125 $150 $231,557
Feb, 2027 $675 $447 $188 $125 $150 $231,110
Mar, 2027 $674 $449 $188 $125 $150 $230,661
Apr, 2027 $673 $450 $188 $125 $150 $230,212
May, 2027 $671 $451 $188 $125 $150 $229,760
Jun, 2027 $670 $452 $188 $125 $150 $229,308
Jul, 2027 $669 $454 $188 $125 $150 $228,854
Aug, 2027 $667 $455 $188 $125 $150 $228,399
Sep, 2027 $666 $456 $188 $125 $150 $227,943
Oct, 2027 $665 $458 $188 $125 $150 $227,485
Nov, 2027 $663 $459 $188 $125 $150 $227,026
Dec, 2027 $662 $460 $188 $125 $150 $226,565
2027 $8,033 $5,438 $2,250 $1,500 $1,800 $226,565
Jan, 2028 $661 $462 $188 $125 $150 $226,103
Feb, 2028 $659 $463 $188 $125 $150 $225,640
Mar, 2028 $658 $464 $188 $125 $150 $225,176
Apr, 2028 $657 $466 $188 $125 $150 $224,710
May, 2028 $655 $467 $188 $125 $150 $224,243
Jun, 2028 $654 $469 $188 $125 $150 $223,774
Jul, 2028 $653 $470 $188 $125 $150 $223,304
Aug, 2028 $651 $471 $188 $125 $150 $222,833
Sep, 2028 $650 $473 $188 $125 $150 $222,360
Oct, 2028 $649 $474 $188 $125 $150 $221,886
Nov, 2028 $647 $475 $188 $125 $150 $221,411
Dec, 2028 $646 $477 $188 $125 $150 $220,934
2028 $7,840 $5,631 $2,250 $1,500 $1,800 $220,934
Jan, 2029 $644 $478 $188 $125 $150 $220,456
Feb, 2029 $643 $480 $188 $125 $150 $219,976
Mar, 2029 $642 $481 $188 $125 $150 $219,495
Apr, 2029 $640 $482 $188 $125 $150 $219,013
May, 2029 $639 $484 $188 $125 $150 $218,529
Jun, 2029 $637 $485 $188 $125 $150 $218,044
Jul, 2029 $636 $487 $188 $125 $150 $217,557
Aug, 2029 $635 $488 $188 $125 $150 $217,069
Sep, 2029 $633 $489 $188 $125 $150 $216,579
Oct, 2029 $632 $491 $188 $125 $150 $216,088
Nov, 2029 $630 $492 $188 $125 $150 $215,596
Dec, 2029 $629 $494 $188 $125 $150 $215,102
2029 $7,640 $5,832 $2,250 $1,500 $1,800 $215,102
Jan, 2030 $627 $495 $188 $125 $150 $214,607
Feb, 2030 $626 $497 $188 $125 $150 $214,110
Mar, 2030 $624 $498 $188 $125 $150 $213,612
Apr, 2030 $623 $500 $188 $125 $150 $213,113
May, 2030 $622 $501 $188 $125 $150 $212,612
Jun, 2030 $620 $502 $188 $125 $150 $212,109
Jul, 2030 $619 $504 $188 $125 $150 $211,605
Aug, 2030 $617 $505 $188 $125 $150 $211,100
Sep, 2030 $616 $507 $188 $125 $150 $210,593
Oct, 2030 $614 $508 $188 $125 $150 $210,084
Nov, 2030 $613 $510 $188 $125 $150 $209,575
Dec, 2030 $611 $511 $188 $125 $150 $209,063
2030 $7,432 $6,039 $2,250 $1,500 $1,800 $209,063
Jan, 2031 $610 $513 $188 $125 $150 $208,550
Feb, 2031 $608 $514 $188 $125 $150 $208,036
Mar, 2031 $607 $516 $188 $125 $150 $207,520
Apr, 2031 $605 $517 $188 $125 $150 $207,003
May, 2031 $604 $519 $188 $125 $150 $206,484
Jun, 2031 $602 $520 $188 $125 $150 $205,964
Jul, 2031 $601 $522 $188 $125 $150 $205,442
Aug, 2031 $599 $523 $188 $125 $150 $204,918
Sep, 2031 $598 $525 $188 $125 $150 $204,393
Oct, 2031 $596 $526 $188 $125 $150 $203,867
Nov, 2031 $595 $528 $188 $125 $150 $203,339
Dec, 2031 $593 $530 $188 $125 $150 $202,809
2031 $7,218 $6,254 $2,250 $1,500 $1,800 $202,809
Jan, 2032 $592 $531 $188 $125 $150 $202,278
Feb, 2032 $590 $533 $188 $125 $150 $201,746
Mar, 2032 $588 $534 $188 $125 $150 $201,211
Apr, 2032 $587 $536 $188 $125 $150 $200,676
May, 2032 $585 $537 $188 $125 $150 $200,138
Jun, 2032 $584 $539 $188 $125 $150 $199,600
Jul, 2032 $582 $540 $188 $125 $150 $199,059
Aug, 2032 $581 $542 $188 $125 $150 $198,517
Sep, 2032 $579 $544 $188 $125 $150 $197,973
Oct, 2032 $577 $545 $188 $125 $150 $197,428
Nov, 2032 $576 $547 $188 $125 $150 $196,882
Dec, 2032 $574 $548 $188 $125 $150 $196,333
2032 $6,995 $6,476 $2,250 $1,500 $1,800 $196,333
Jan, 2033 $573 $550 $188 $125 $150 $195,783
Feb, 2033 $571 $552 $188 $125 $150 $195,232
Mar, 2033 $569 $553 $188 $125 $150 $194,678
Apr, 2033 $568 $555 $188 $125 $150 $194,124
May, 2033 $566 $556 $188 $125 $150 $193,567
Jun, 2033 $565 $558 $188 $125 $150 $193,009
Jul, 2033 $563 $560 $188 $125 $150 $192,449
Aug, 2033 $561 $561 $188 $125 $150 $191,888
Sep, 2033 $560 $563 $188 $125 $150 $191,325
Oct, 2033 $558 $565 $188 $125 $150 $190,761
Nov, 2033 $556 $566 $188 $125 $150 $190,194
Dec, 2033 $555 $568 $188 $125 $150 $189,627
2033 $6,765 $6,707 $2,250 $1,500 $1,800 $189,627
Jan, 2034 $553 $570 $188 $125 $150 $189,057
Feb, 2034 $551 $571 $188 $125 $150 $188,486
Mar, 2034 $550 $573 $188 $125 $150 $187,913
Apr, 2034 $548 $575 $188 $125 $150 $187,338
May, 2034 $546 $576 $188 $125 $150 $186,762
Jun, 2034 $545 $578 $188 $125 $150 $186,184
Jul, 2034 $543 $580 $188 $125 $150 $185,605
Aug, 2034 $541 $581 $188 $125 $150 $185,023
Sep, 2034 $540 $583 $188 $125 $150 $184,441
Oct, 2034 $538 $585 $188 $125 $150 $183,856
Nov, 2034 $536 $586 $188 $125 $150 $183,270
Dec, 2034 $535 $588 $188 $125 $150 $182,681
2034 $6,526 $6,945 $2,250 $1,500 $1,800 $182,681
Jan, 2035 $533 $590 $188 $125 $150 $182,092
Feb, 2035 $531 $592 $188 $125 $150 $181,500
Mar, 2035 $529 $593 $188 $125 $150 $180,907
Apr, 2035 $528 $595 $188 $125 $150 $180,312
May, 2035 $526 $597 $188 $125 $150 $179,715
Jun, 2035 $524 $598 $188 $125 $150 $179,117
Jul, 2035 $522 $600 $188 $125 $150 $178,517
Aug, 2035 $521 $602 $188 $125 $150 $177,915
Sep, 2035 $519 $604 $188 $125 $150 $177,311
Oct, 2035 $517 $605 $188 $125 $150 $176,706
Nov, 2035 $515 $607 $188 $125 $150 $176,098
Dec, 2035 $514 $609 $188 $125 $150 $175,489
2035 $6,279 $7,192 $2,250 $1,500 $1,800 $175,489
Jan, 2036 $512 $611 $188 $125 $150 $174,879
Feb, 2036 $510 $613 $188 $125 $150 $174,266
Mar, 2036 $508 $614 $188 $125 $150 $173,652
Apr, 2036 $506 $616 $188 $125 $150 $173,036
May, 2036 $505 $618 $188 $125 $150 $172,418
Jun, 2036 $503 $620 $188 $125 $150 $171,798
Jul, 2036 $501 $622 $188 $125 $150 $171,176
Aug, 2036 $499 $623 $188 $125 $150 $170,553
Sep, 2036 $497 $625 $188 $125 $150 $169,928
Oct, 2036 $496 $627 $188 $125 $150 $169,301
Nov, 2036 $494 $629 $188 $125 $150 $168,672
Dec, 2036 $492 $631 $188 $125 $150 $168,041
2036 $6,023 $7,448 $2,250 $1,500 $1,800 $168,041
Jan, 2037 $490 $632 $188 $125 $150 $167,409
Feb, 2037 $488 $634 $188 $125 $150 $166,775
Mar, 2037 $486 $636 $188 $125 $150 $166,138
Apr, 2037 $485 $638 $188 $125 $150 $165,500
May, 2037 $483 $640 $188 $125 $150 $164,860
Jun, 2037 $481 $642 $188 $125 $150 $164,219
Jul, 2037 $479 $644 $188 $125 $150 $163,575
Aug, 2037 $477 $646 $188 $125 $150 $162,929
Sep, 2037 $475 $647 $188 $125 $150 $162,282
Oct, 2037 $473 $649 $188 $125 $150 $161,633
Nov, 2037 $471 $651 $188 $125 $150 $160,982
Dec, 2037 $470 $653 $188 $125 $150 $160,329
2037 $5,759 $7,713 $2,250 $1,500 $1,800 $160,329
Jan, 2038 $468 $655 $188 $125 $150 $159,674
Feb, 2038 $466 $657 $188 $125 $150 $159,017
Mar, 2038 $464 $659 $188 $125 $150 $158,358
Apr, 2038 $462 $661 $188 $125 $150 $157,697
May, 2038 $460 $663 $188 $125 $150 $157,034
Jun, 2038 $458 $665 $188 $125 $150 $156,370
Jul, 2038 $456 $667 $188 $125 $150 $155,703
Aug, 2038 $454 $668 $188 $125 $150 $155,035
Sep, 2038 $452 $670 $188 $125 $150 $154,364
Oct, 2038 $450 $672 $188 $125 $150 $153,692
Nov, 2038 $448 $674 $188 $125 $150 $153,018
Dec, 2038 $446 $676 $188 $125 $150 $152,341
2038 $5,484 $7,987 $2,250 $1,500 $1,800 $152,341
Jan, 2039 $444 $678 $188 $125 $150 $151,663
Feb, 2039 $442 $680 $188 $125 $150 $150,983
Mar, 2039 $440 $682 $188 $125 $150 $150,301
Apr, 2039 $438 $684 $188 $125 $150 $149,616
May, 2039 $436 $686 $188 $125 $150 $148,930
Jun, 2039 $434 $688 $188 $125 $150 $148,242
Jul, 2039 $432 $690 $188 $125 $150 $147,552
Aug, 2039 $430 $692 $188 $125 $150 $146,859
Sep, 2039 $428 $694 $188 $125 $150 $146,165
Oct, 2039 $426 $696 $188 $125 $150 $145,469
Nov, 2039 $424 $698 $188 $125 $150 $144,770
Dec, 2039 $422 $700 $188 $125 $150 $144,070
2039 $5,200 $8,271 $2,250 $1,500 $1,800 $144,070
Jan, 2040 $420 $702 $188 $125 $150 $143,368
Feb, 2040 $418 $704 $188 $125 $150 $142,663
Mar, 2040 $416 $707 $188 $125 $150 $141,957
Apr, 2040 $414 $709 $188 $125 $150 $141,248
May, 2040 $412 $711 $188 $125 $150 $140,538
Jun, 2040 $410 $713 $188 $125 $150 $139,825
Jul, 2040 $408 $715 $188 $125 $150 $139,110
Aug, 2040 $406 $717 $188 $125 $150 $138,393
Sep, 2040 $404 $719 $188 $125 $150 $137,674
Oct, 2040 $402 $721 $188 $125 $150 $136,953
Nov, 2040 $399 $723 $188 $125 $150 $136,230
Dec, 2040 $397 $725 $188 $125 $150 $135,505
2040 $4,906 $8,565 $2,250 $1,500 $1,800 $135,505
Jan, 2041 $395 $727 $188 $125 $150 $134,777
Feb, 2041 $393 $730 $188 $125 $150 $134,048
Mar, 2041 $391 $732 $188 $125 $150 $133,316
Apr, 2041 $389 $734 $188 $125 $150 $132,582
May, 2041 $387 $736 $188 $125 $150 $131,846
Jun, 2041 $385 $738 $188 $125 $150 $131,108
Jul, 2041 $382 $740 $188 $125 $150 $130,368
Aug, 2041 $380 $742 $188 $125 $150 $129,626
Sep, 2041 $378 $745 $188 $125 $150 $128,881
Oct, 2041 $376 $747 $188 $125 $150 $128,135
Nov, 2041 $374 $749 $188 $125 $150 $127,386
Dec, 2041 $372 $751 $188 $125 $150 $126,635
2041 $4,601 $8,870 $2,250 $1,500 $1,800 $126,635
Jan, 2042 $369 $753 $188 $125 $150 $125,881
Feb, 2042 $367 $755 $188 $125 $150 $125,126
Mar, 2042 $365 $758 $188 $125 $150 $124,368
Apr, 2042 $363 $760 $188 $125 $150 $123,608
May, 2042 $361 $762 $188 $125 $150 $122,846
Jun, 2042 $358 $764 $188 $125 $150 $122,082
Jul, 2042 $356 $767 $188 $125 $150 $121,315
Aug, 2042 $354 $769 $188 $125 $150 $120,547
Sep, 2042 $352 $771 $188 $125 $150 $119,776
Oct, 2042 $349 $773 $188 $125 $150 $119,002
Nov, 2042 $347 $776 $188 $125 $150 $118,227
Dec, 2042 $345 $778 $188 $125 $150 $117,449
2042 $4,286 $9,186 $2,250 $1,500 $1,800 $117,449
Jan, 2043 $343 $780 $188 $125 $150 $116,669
Feb, 2043 $340 $782 $188 $125 $150 $115,887
Mar, 2043 $338 $785 $188 $125 $150 $115,102
Apr, 2043 $336 $787 $188 $125 $150 $114,315
May, 2043 $333 $789 $188 $125 $150 $113,526
Jun, 2043 $331 $791 $188 $125 $150 $112,735
Jul, 2043 $329 $794 $188 $125 $150 $111,941
Aug, 2043 $326 $796 $188 $125 $150 $111,145
Sep, 2043 $324 $798 $188 $125 $150 $110,346
Oct, 2043 $322 $801 $188 $125 $150 $109,545
Nov, 2043 $320 $803 $188 $125 $150 $108,742
Dec, 2043 $317 $805 $188 $125 $150 $107,937
2043 $3,959 $9,512 $2,250 $1,500 $1,800 $107,937
Jan, 2044 $315 $808 $188 $125 $150 $107,129
Feb, 2044 $312 $810 $188 $125 $150 $106,319
Mar, 2044 $310 $813 $188 $125 $150 $105,506
Apr, 2044 $308 $815 $188 $125 $150 $104,691
May, 2044 $305 $817 $188 $125 $150 $103,874
Jun, 2044 $303 $820 $188 $125 $150 $103,055
Jul, 2044 $301 $822 $188 $125 $150 $102,233
Aug, 2044 $298 $824 $188 $125 $150 $101,408
Sep, 2044 $296 $827 $188 $125 $150 $100,581
Oct, 2044 $293 $829 $188 $125 $150 $99,752
Nov, 2044 $291 $832 $188 $125 $150 $98,920
Dec, 2044 $289 $834 $188 $125 $150 $98,086
2044 $3,621 $9,851 $2,250 $1,500 $1,800 $98,086
Jan, 2045 $286 $837 $188 $125 $150 $97,250
Feb, 2045 $284 $839 $188 $125 $150 $96,411
Mar, 2045 $281 $841 $188 $125 $150 $95,569
Apr, 2045 $279 $844 $188 $125 $150 $94,725
May, 2045 $276 $846 $188 $125 $150 $93,879
Jun, 2045 $274 $849 $188 $125 $150 $93,030
Jul, 2045 $271 $851 $188 $125 $150 $92,179
Aug, 2045 $269 $854 $188 $125 $150 $91,325
Sep, 2045 $266 $856 $188 $125 $150 $90,469
Oct, 2045 $264 $859 $188 $125 $150 $89,610
Nov, 2045 $261 $861 $188 $125 $150 $88,749
Dec, 2045 $259 $864 $188 $125 $150 $87,885
2045 $3,270 $10,201 $2,250 $1,500 $1,800 $87,885
Jan, 2046 $256 $866 $188 $125 $150 $87,019
Feb, 2046 $254 $869 $188 $125 $150 $86,150
Mar, 2046 $251 $871 $188 $125 $150 $85,279
Apr, 2046 $249 $874 $188 $125 $150 $84,405
May, 2046 $246 $876 $188 $125 $150 $83,529
Jun, 2046 $244 $879 $188 $125 $150 $82,650
Jul, 2046 $241 $882 $188 $125 $150 $81,768
Aug, 2046 $238 $884 $188 $125 $150 $80,884
Sep, 2046 $236 $887 $188 $125 $150 $79,997
Oct, 2046 $233 $889 $188 $125 $150 $79,108
Nov, 2046 $231 $892 $188 $125 $150 $78,216
Dec, 2046 $228 $894 $188 $125 $150 $77,322
2046 $2,908 $10,564 $2,250 $1,500 $1,800 $77,322
Jan, 2047 $226 $897 $188 $125 $150 $76,424
Feb, 2047 $223 $900 $188 $125 $150 $75,525
Mar, 2047 $220 $902 $188 $125 $150 $74,622
Apr, 2047 $218 $905 $188 $125 $150 $73,717
May, 2047 $215 $908 $188 $125 $150 $72,810
Jun, 2047 $212 $910 $188 $125 $150 $71,900
Jul, 2047 $210 $913 $188 $125 $150 $70,987
Aug, 2047 $207 $916 $188 $125 $150 $70,071
Sep, 2047 $204 $918 $188 $125 $150 $69,153
Oct, 2047 $202 $921 $188 $125 $150 $68,232
Nov, 2047 $199 $924 $188 $125 $150 $67,308
Dec, 2047 $196 $926 $188 $125 $150 $66,382
2047 $2,532 $10,939 $2,250 $1,500 $1,800 $66,382
Jan, 2048 $194 $929 $188 $125 $150 $65,453
Feb, 2048 $191 $932 $188 $125 $150 $64,521
Mar, 2048 $188 $934 $188 $125 $150 $63,587
Apr, 2048 $185 $937 $188 $125 $150 $62,650
May, 2048 $183 $940 $188 $125 $150 $61,710
Jun, 2048 $180 $943 $188 $125 $150 $60,767
Jul, 2048 $177 $945 $188 $125 $150 $59,822
Aug, 2048 $174 $948 $188 $125 $150 $58,874
Sep, 2048 $172 $951 $188 $125 $150 $57,923
Oct, 2048 $169 $954 $188 $125 $150 $56,969
Nov, 2048 $166 $956 $188 $125 $150 $56,013
Dec, 2048 $163 $959 $188 $125 $150 $55,054
2048 $2,143 $11,329 $2,250 $1,500 $1,800 $55,054
Jan, 2049 $161 $962 $188 $125 $150 $54,092
Feb, 2049 $158 $965 $188 $125 $150 $53,127
Mar, 2049 $155 $968 $188 $125 $150 $52,159
Apr, 2049 $152 $970 $188 $125 $150 $51,189
May, 2049 $149 $973 $188 $125 $150 $50,215
Jun, 2049 $146 $976 $188 $125 $150 $49,239
Jul, 2049 $144 $979 $188 $125 $150 $48,260
Aug, 2049 $141 $982 $188 $125 $150 $47,278
Sep, 2049 $138 $985 $188 $125 $150 $46,294
Oct, 2049 $135 $988 $188 $125 $150 $45,306
Nov, 2049 $132 $990 $188 $125 $150 $44,315
Dec, 2049 $129 $993 $188 $125 $150 $43,322
2049 $1,740 $11,731 $2,250 $1,500 $1,800 $43,322
Jan, 2050 $126 $996 $188 $125 $150 $42,326
Feb, 2050 $123 $999 $188 $125 $150 $41,327
Mar, 2050 $121 $1,002 $188 $125 $150 $40,325
Apr, 2050 $118 $1,005 $188 $125 $150 $39,320
May, 2050 $115 $1,008 $188 $125 $150 $38,312
Jun, 2050 $112 $1,011 $188 $125 $150 $37,301
Jul, 2050 $109 $1,014 $188 $125 $150 $36,287
Aug, 2050 $106 $1,017 $188 $125 $150 $35,270
Sep, 2050 $103 $1,020 $188 $125 $150 $34,250
Oct, 2050 $100 $1,023 $188 $125 $150 $33,228
Nov, 2050 $97 $1,026 $188 $125 $150 $32,202
Dec, 2050 $94 $1,029 $188 $125 $150 $31,173
2050 $1,323 $12,149 $2,250 $1,500 $1,800 $31,173
Jan, 2051 $91 $1,032 $188 $125 $150 $30,142
Feb, 2051 $88 $1,035 $188 $125 $150 $29,107
Mar, 2051 $85 $1,038 $188 $125 $150 $28,069
Apr, 2051 $82 $1,041 $188 $125 $150 $27,029
May, 2051 $79 $1,044 $188 $125 $150 $25,985
Jun, 2051 $76 $1,047 $188 $125 $150 $24,938
Jul, 2051 $73 $1,050 $188 $125 $150 $23,888
Aug, 2051 $70 $1,053 $188 $125 $150 $22,835
Sep, 2051 $67 $1,056 $188 $125 $150 $21,779
Oct, 2051 $64 $1,059 $188 $125 $150 $20,720
Nov, 2051 $60 $1,062 $188 $125 $150 $19,658
Dec, 2051 $57 $1,065 $188 $125 $150 $18,593
2051 $891 $12,581 $2,250 $1,500 $1,800 $18,593
Jan, 2052 $54 $1,068 $188 $125 $150 $17,524
Feb, 2052 $51 $1,071 $188 $125 $150 $16,453
Mar, 2052 $48 $1,075 $188 $125 $150 $15,378
Apr, 2052 $45 $1,078 $188 $125 $150 $14,300
May, 2052 $42 $1,081 $188 $125 $150 $13,219
Jun, 2052 $39 $1,084 $188 $125 $150 $12,135
Jul, 2052 $35 $1,087 $188 $125 $150 $11,048
Aug, 2052 $32 $1,090 $188 $125 $150 $9,958
Sep, 2052 $29 $1,094 $188 $125 $150 $8,864
Oct, 2052 $26 $1,097 $188 $125 $150 $7,767
Nov, 2052 $23 $1,100 $188 $125 $150 $6,667
Dec, 2052 $19 $1,103 $188 $125 $150 $5,564
2052 $443 $13,028 $2,250 $1,500 $1,800 $5,564
Jan, 2053 $16 $1,106 $188 $125 $150 $4,458
Feb, 2053 $13 $1,110 $188 $125 $150 $3,348
Mar, 2053 $10 $1,113 $188 $125 $150 $2,235
Apr, 2053 $7 $1,116 $188 $125 $150 $1,119
May, 2053 $3 $1,119 $188 $125 $150 $0
2053 $49 $5,564 $938 $625 $750 $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.