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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Jan, 2022 Dec, 2051
Loan Closing Loan Payoff

Compare Virginia Mortgage Rates

740-850 FICO UP TO 2.0 POINTS

JAN 17, 2022

 
3.923%
APR
$1,158
per month
30 Year
Fixed
Rate: 3.750%
Fees: $5,312
Points: 1.625
Lock: 30 days
View Details
3.953%
APR
$1,158
per month
30 Year
Fixed
Rate: 3.750%
Fees: $6,250
Points: 2.000
Lock: 30 days
View Details
3.055%
APR
$1,038
per month
30 Year
Fixed
Rate: 2.875%
Fees: $5,820
Points: 1.930
Lock: 30 days
View Details
3.923%
APR
$1,158
per month
30 Year
Fixed
Rate: 3.750%
Fees: $5,312
Points: 1.625
Lock: 30 days
View Details
3.055%
APR
$1,038
per month
30 Year
Fixed
Rate: 2.875%
Fees: $5,820
Points: 1.930
Lock: 30 days
View Details
3.304%
APR
$1,075
per month
30 Year
Fixed
Rate: 3.150%
Fees: $4,895
Points: 1.958
Lock: 30 days
View Details
3.953%
APR
$1,158
per month
30 Year
Fixed
Rate: 3.750%
Fees: $6,250
Points: 2.000
Lock: 30 days
View Details
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View Details
  Monthly Annual Total of 360 Payments
Principal $393 — $1,119 $4,798 — $13,219 $250,000
Interest $3 — $729 $252 — $8,674 $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
Jan, 2022 $729 $393 $188 $125 $150 $249,607
Feb, 2022 $728 $395 $188 $125 $150 $249,212
Mar, 2022 $727 $396 $188 $125 $150 $248,816
Apr, 2022 $726 $397 $188 $125 $150 $248,419
May, 2022 $725 $398 $188 $125 $150 $248,021
Jun, 2022 $723 $399 $188 $125 $150 $247,622
Jul, 2022 $722 $400 $188 $125 $150 $247,222
Aug, 2022 $721 $402 $188 $125 $150 $246,820
Sep, 2022 $720 $403 $188 $125 $150 $246,417
Oct, 2022 $719 $404 $188 $125 $150 $246,014
Nov, 2022 $718 $405 $188 $125 $150 $245,608
Dec, 2022 $716 $406 $188 $125 $150 $245,202
2022 $8,674 $4,798 $2,250 $1,500 $1,800 $245,202
Jan, 2023 $715 $407 $188 $125 $150 $244,795
Feb, 2023 $714 $409 $188 $125 $150 $244,386
Mar, 2023 $713 $410 $188 $125 $150 $243,976
Apr, 2023 $712 $411 $188 $125 $150 $243,565
May, 2023 $710 $412 $188 $125 $150 $243,153
Jun, 2023 $709 $413 $188 $125 $150 $242,740
Jul, 2023 $708 $415 $188 $125 $150 $242,325
Aug, 2023 $707 $416 $188 $125 $150 $241,909
Sep, 2023 $706 $417 $188 $125 $150 $241,492
Oct, 2023 $704 $418 $188 $125 $150 $241,074
Nov, 2023 $703 $419 $188 $125 $150 $240,654
Dec, 2023 $702 $421 $188 $125 $150 $240,234
2023 $8,503 $4,968 $2,250 $1,500 $1,800 $240,234
Jan, 2024 $701 $422 $188 $125 $150 $239,812
Feb, 2024 $699 $423 $188 $125 $150 $239,389
Mar, 2024 $698 $424 $188 $125 $150 $238,964
Apr, 2024 $697 $426 $188 $125 $150 $238,539
May, 2024 $696 $427 $188 $125 $150 $238,112
Jun, 2024 $694 $428 $188 $125 $150 $237,684
Jul, 2024 $693 $429 $188 $125 $150 $237,254
Aug, 2024 $692 $431 $188 $125 $150 $236,824
Sep, 2024 $691 $432 $188 $125 $150 $236,392
Oct, 2024 $689 $433 $188 $125 $150 $235,959
Nov, 2024 $688 $434 $188 $125 $150 $235,524
Dec, 2024 $687 $436 $188 $125 $150 $235,089
2024 $8,326 $5,145 $2,250 $1,500 $1,800 $235,089
Jan, 2025 $686 $437 $188 $125 $150 $234,652
Feb, 2025 $684 $438 $188 $125 $150 $234,213
Mar, 2025 $683 $439 $188 $125 $150 $233,774
Apr, 2025 $682 $441 $188 $125 $150 $233,333
May, 2025 $681 $442 $188 $125 $150 $232,891
Jun, 2025 $679 $443 $188 $125 $150 $232,448
Jul, 2025 $678 $445 $188 $125 $150 $232,003
Aug, 2025 $677 $446 $188 $125 $150 $231,557
Sep, 2025 $675 $447 $188 $125 $150 $231,110
Oct, 2025 $674 $449 $188 $125 $150 $230,661
Nov, 2025 $673 $450 $188 $125 $150 $230,212
Dec, 2025 $671 $451 $188 $125 $150 $229,760
2025 $8,143 $5,328 $2,250 $1,500 $1,800 $229,760
Jan, 2026 $670 $452 $188 $125 $150 $229,308
Feb, 2026 $669 $454 $188 $125 $150 $228,854
Mar, 2026 $667 $455 $188 $125 $150 $228,399
Apr, 2026 $666 $456 $188 $125 $150 $227,943
May, 2026 $665 $458 $188 $125 $150 $227,485
Jun, 2026 $663 $459 $188 $125 $150 $227,026
Jul, 2026 $662 $460 $188 $125 $150 $226,565
Aug, 2026 $661 $462 $188 $125 $150 $226,103
Sep, 2026 $659 $463 $188 $125 $150 $225,640
Oct, 2026 $658 $464 $188 $125 $150 $225,176
Nov, 2026 $657 $466 $188 $125 $150 $224,710
Dec, 2026 $655 $467 $188 $125 $150 $224,243
2026 $7,954 $5,518 $2,250 $1,500 $1,800 $224,243
Jan, 2027 $654 $469 $188 $125 $150 $223,774
Feb, 2027 $653 $470 $188 $125 $150 $223,304
Mar, 2027 $651 $471 $188 $125 $150 $222,833
Apr, 2027 $650 $473 $188 $125 $150 $222,360
May, 2027 $649 $474 $188 $125 $150 $221,886
Jun, 2027 $647 $475 $188 $125 $150 $221,411
Jul, 2027 $646 $477 $188 $125 $150 $220,934
Aug, 2027 $644 $478 $188 $125 $150 $220,456
Sep, 2027 $643 $480 $188 $125 $150 $219,976
Oct, 2027 $642 $481 $188 $125 $150 $219,495
Nov, 2027 $640 $482 $188 $125 $150 $219,013
Dec, 2027 $639 $484 $188 $125 $150 $218,529
2027 $7,757 $5,714 $2,250 $1,500 $1,800 $218,529
Jan, 2028 $637 $485 $188 $125 $150 $218,044
Feb, 2028 $636 $487 $188 $125 $150 $217,557
Mar, 2028 $635 $488 $188 $125 $150 $217,069
Apr, 2028 $633 $489 $188 $125 $150 $216,579
May, 2028 $632 $491 $188 $125 $150 $216,088
Jun, 2028 $630 $492 $188 $125 $150 $215,596
Jul, 2028 $629 $494 $188 $125 $150 $215,102
Aug, 2028 $627 $495 $188 $125 $150 $214,607
Sep, 2028 $626 $497 $188 $125 $150 $214,110
Oct, 2028 $624 $498 $188 $125 $150 $213,612
Nov, 2028 $623 $500 $188 $125 $150 $213,113
Dec, 2028 $622 $501 $188 $125 $150 $212,612
2028 $7,554 $5,917 $2,250 $1,500 $1,800 $212,612
Jan, 2029 $620 $502 $188 $125 $150 $212,109
Feb, 2029 $619 $504 $188 $125 $150 $211,605
Mar, 2029 $617 $505 $188 $125 $150 $211,100
Apr, 2029 $616 $507 $188 $125 $150 $210,593
May, 2029 $614 $508 $188 $125 $150 $210,084
Jun, 2029 $613 $510 $188 $125 $150 $209,575
Jul, 2029 $611 $511 $188 $125 $150 $209,063
Aug, 2029 $610 $513 $188 $125 $150 $208,550
Sep, 2029 $608 $514 $188 $125 $150 $208,036
Oct, 2029 $607 $516 $188 $125 $150 $207,520
Nov, 2029 $605 $517 $188 $125 $150 $207,003
Dec, 2029 $604 $519 $188 $125 $150 $206,484
2029 $7,344 $6,128 $2,250 $1,500 $1,800 $206,484
Jan, 2030 $602 $520 $188 $125 $150 $205,964
Feb, 2030 $601 $522 $188 $125 $150 $205,442
Mar, 2030 $599 $523 $188 $125 $150 $204,918
Apr, 2030 $598 $525 $188 $125 $150 $204,393
May, 2030 $596 $526 $188 $125 $150 $203,867
Jun, 2030 $595 $528 $188 $125 $150 $203,339
Jul, 2030 $593 $530 $188 $125 $150 $202,809
Aug, 2030 $592 $531 $188 $125 $150 $202,278
Sep, 2030 $590 $533 $188 $125 $150 $201,746
Oct, 2030 $588 $534 $188 $125 $150 $201,211
Nov, 2030 $587 $536 $188 $125 $150 $200,676
Dec, 2030 $585 $537 $188 $125 $150 $200,138
2030 $7,126 $6,346 $2,250 $1,500 $1,800 $200,138
Jan, 2031 $584 $539 $188 $125 $150 $199,600
Feb, 2031 $582 $540 $188 $125 $150 $199,059
Mar, 2031 $581 $542 $188 $125 $150 $198,517
Apr, 2031 $579 $544 $188 $125 $150 $197,973
May, 2031 $577 $545 $188 $125 $150 $197,428
Jun, 2031 $576 $547 $188 $125 $150 $196,882
Jul, 2031 $574 $548 $188 $125 $150 $196,333
Aug, 2031 $573 $550 $188 $125 $150 $195,783
Sep, 2031 $571 $552 $188 $125 $150 $195,232
Oct, 2031 $569 $553 $188 $125 $150 $194,678
Nov, 2031 $568 $555 $188 $125 $150 $194,124
Dec, 2031 $566 $556 $188 $125 $150 $193,567
2031 $6,900 $6,571 $2,250 $1,500 $1,800 $193,567
Jan, 2032 $565 $558 $188 $125 $150 $193,009
Feb, 2032 $563 $560 $188 $125 $150 $192,449
Mar, 2032 $561 $561 $188 $125 $150 $191,888
Apr, 2032 $560 $563 $188 $125 $150 $191,325
May, 2032 $558 $565 $188 $125 $150 $190,761
Jun, 2032 $556 $566 $188 $125 $150 $190,194
Jul, 2032 $555 $568 $188 $125 $150 $189,627
Aug, 2032 $553 $570 $188 $125 $150 $189,057
Sep, 2032 $551 $571 $188 $125 $150 $188,486
Oct, 2032 $550 $573 $188 $125 $150 $187,913
Nov, 2032 $548 $575 $188 $125 $150 $187,338
Dec, 2032 $546 $576 $188 $125 $150 $186,762
2032 $6,666 $6,805 $2,250 $1,500 $1,800 $186,762
Jan, 2033 $545 $578 $188 $125 $150 $186,184
Feb, 2033 $543 $580 $188 $125 $150 $185,605
Mar, 2033 $541 $581 $188 $125 $150 $185,023
Apr, 2033 $540 $583 $188 $125 $150 $184,441
May, 2033 $538 $585 $188 $125 $150 $183,856
Jun, 2033 $536 $586 $188 $125 $150 $183,270
Jul, 2033 $535 $588 $188 $125 $150 $182,681
Aug, 2033 $533 $590 $188 $125 $150 $182,092
Sep, 2033 $531 $592 $188 $125 $150 $181,500
Oct, 2033 $529 $593 $188 $125 $150 $180,907
Nov, 2033 $528 $595 $188 $125 $150 $180,312
Dec, 2033 $526 $597 $188 $125 $150 $179,715
2033 $6,424 $7,047 $2,250 $1,500 $1,800 $179,715
Jan, 2034 $524 $598 $188 $125 $150 $179,117
Feb, 2034 $522 $600 $188 $125 $150 $178,517
Mar, 2034 $521 $602 $188 $125 $150 $177,915
Apr, 2034 $519 $604 $188 $125 $150 $177,311
May, 2034 $517 $605 $188 $125 $150 $176,706
Jun, 2034 $515 $607 $188 $125 $150 $176,098
Jul, 2034 $514 $609 $188 $125 $150 $175,489
Aug, 2034 $512 $611 $188 $125 $150 $174,879
Sep, 2034 $510 $613 $188 $125 $150 $174,266
Oct, 2034 $508 $614 $188 $125 $150 $173,652
Nov, 2034 $506 $616 $188 $125 $150 $173,036
Dec, 2034 $505 $618 $188 $125 $150 $172,418
2034 $6,174 $7,298 $2,250 $1,500 $1,800 $172,418
Jan, 2035 $503 $620 $188 $125 $150 $171,798
Feb, 2035 $501 $622 $188 $125 $150 $171,176
Mar, 2035 $499 $623 $188 $125 $150 $170,553
Apr, 2035 $497 $625 $188 $125 $150 $169,928
May, 2035 $496 $627 $188 $125 $150 $169,301
Jun, 2035 $494 $629 $188 $125 $150 $168,672
Jul, 2035 $492 $631 $188 $125 $150 $168,041
Aug, 2035 $490 $632 $188 $125 $150 $167,409
Sep, 2035 $488 $634 $188 $125 $150 $166,775
Oct, 2035 $486 $636 $188 $125 $150 $166,138
Nov, 2035 $485 $638 $188 $125 $150 $165,500
Dec, 2035 $483 $640 $188 $125 $150 $164,860
2035 $5,914 $7,557 $2,250 $1,500 $1,800 $164,860
Jan, 2036 $481 $642 $188 $125 $150 $164,219
Feb, 2036 $479 $644 $188 $125 $150 $163,575
Mar, 2036 $477 $646 $188 $125 $150 $162,929
Apr, 2036 $475 $647 $188 $125 $150 $162,282
May, 2036 $473 $649 $188 $125 $150 $161,633
Jun, 2036 $471 $651 $188 $125 $150 $160,982
Jul, 2036 $470 $653 $188 $125 $150 $160,329
Aug, 2036 $468 $655 $188 $125 $150 $159,674
Sep, 2036 $466 $657 $188 $125 $150 $159,017
Oct, 2036 $464 $659 $188 $125 $150 $158,358
Nov, 2036 $462 $661 $188 $125 $150 $157,697
Dec, 2036 $460 $663 $188 $125 $150 $157,034
2036 $5,645 $7,826 $2,250 $1,500 $1,800 $157,034
Jan, 2037 $458 $665 $188 $125 $150 $156,370
Feb, 2037 $456 $667 $188 $125 $150 $155,703
Mar, 2037 $454 $668 $188 $125 $150 $155,035
Apr, 2037 $452 $670 $188 $125 $150 $154,364
May, 2037 $450 $672 $188 $125 $150 $153,692
Jun, 2037 $448 $674 $188 $125 $150 $153,018
Jul, 2037 $446 $676 $188 $125 $150 $152,341
Aug, 2037 $444 $678 $188 $125 $150 $151,663
Sep, 2037 $442 $680 $188 $125 $150 $150,983
Oct, 2037 $440 $682 $188 $125 $150 $150,301
Nov, 2037 $438 $684 $188 $125 $150 $149,616
Dec, 2037 $436 $686 $188 $125 $150 $148,930
2037 $5,367 $8,104 $2,250 $1,500 $1,800 $148,930
Jan, 2038 $434 $688 $188 $125 $150 $148,242
Feb, 2038 $432 $690 $188 $125 $150 $147,552
Mar, 2038 $430 $692 $188 $125 $150 $146,859
Apr, 2038 $428 $694 $188 $125 $150 $146,165
May, 2038 $426 $696 $188 $125 $150 $145,469
Jun, 2038 $424 $698 $188 $125 $150 $144,770
Jul, 2038 $422 $700 $188 $125 $150 $144,070
Aug, 2038 $420 $702 $188 $125 $150 $143,368
Sep, 2038 $418 $704 $188 $125 $150 $142,663
Oct, 2038 $416 $707 $188 $125 $150 $141,957
Nov, 2038 $414 $709 $188 $125 $150 $141,248
Dec, 2038 $412 $711 $188 $125 $150 $140,538
2038 $5,079 $8,393 $2,250 $1,500 $1,800 $140,538
Jan, 2039 $410 $713 $188 $125 $150 $139,825
Feb, 2039 $408 $715 $188 $125 $150 $139,110
Mar, 2039 $406 $717 $188 $125 $150 $138,393
Apr, 2039 $404 $719 $188 $125 $150 $137,674
May, 2039 $402 $721 $188 $125 $150 $136,953
Jun, 2039 $399 $723 $188 $125 $150 $136,230
Jul, 2039 $397 $725 $188 $125 $150 $135,505
Aug, 2039 $395 $727 $188 $125 $150 $134,777
Sep, 2039 $393 $730 $188 $125 $150 $134,048
Oct, 2039 $391 $732 $188 $125 $150 $133,316
Nov, 2039 $389 $734 $188 $125 $150 $132,582
Dec, 2039 $387 $736 $188 $125 $150 $131,846
2039 $4,780 $8,691 $2,250 $1,500 $1,800 $131,846
Jan, 2040 $385 $738 $188 $125 $150 $131,108
Feb, 2040 $382 $740 $188 $125 $150 $130,368
Mar, 2040 $380 $742 $188 $125 $150 $129,626
Apr, 2040 $378 $745 $188 $125 $150 $128,881
May, 2040 $376 $747 $188 $125 $150 $128,135
Jun, 2040 $374 $749 $188 $125 $150 $127,386
Jul, 2040 $372 $751 $188 $125 $150 $126,635
Aug, 2040 $369 $753 $188 $125 $150 $125,881
Sep, 2040 $367 $755 $188 $125 $150 $125,126
Oct, 2040 $365 $758 $188 $125 $150 $124,368
Nov, 2040 $363 $760 $188 $125 $150 $123,608
Dec, 2040 $361 $762 $188 $125 $150 $122,846
2040 $4,471 $9,000 $2,250 $1,500 $1,800 $122,846
Jan, 2041 $358 $764 $188 $125 $150 $122,082
Feb, 2041 $356 $767 $188 $125 $150 $121,315
Mar, 2041 $354 $769 $188 $125 $150 $120,547
Apr, 2041 $352 $771 $188 $125 $150 $119,776
May, 2041 $349 $773 $188 $125 $150 $119,002
Jun, 2041 $347 $776 $188 $125 $150 $118,227
Jul, 2041 $345 $778 $188 $125 $150 $117,449
Aug, 2041 $343 $780 $188 $125 $150 $116,669
Sep, 2041 $340 $782 $188 $125 $150 $115,887
Oct, 2041 $338 $785 $188 $125 $150 $115,102
Nov, 2041 $336 $787 $188 $125 $150 $114,315
Dec, 2041 $333 $789 $188 $125 $150 $113,526
2041 $4,151 $9,320 $2,250 $1,500 $1,800 $113,526
Jan, 2042 $331 $791 $188 $125 $150 $112,735
Feb, 2042 $329 $794 $188 $125 $150 $111,941
Mar, 2042 $326 $796 $188 $125 $150 $111,145
Apr, 2042 $324 $798 $188 $125 $150 $110,346
May, 2042 $322 $801 $188 $125 $150 $109,545
Jun, 2042 $320 $803 $188 $125 $150 $108,742
Jul, 2042 $317 $805 $188 $125 $150 $107,937
Aug, 2042 $315 $808 $188 $125 $150 $107,129
Sep, 2042 $312 $810 $188 $125 $150 $106,319
Oct, 2042 $310 $813 $188 $125 $150 $105,506
Nov, 2042 $308 $815 $188 $125 $150 $104,691
Dec, 2042 $305 $817 $188 $125 $150 $103,874
2042 $3,820 $9,652 $2,250 $1,500 $1,800 $103,874
Jan, 2043 $303 $820 $188 $125 $150 $103,055
Feb, 2043 $301 $822 $188 $125 $150 $102,233
Mar, 2043 $298 $824 $188 $125 $150 $101,408
Apr, 2043 $296 $827 $188 $125 $150 $100,581
May, 2043 $293 $829 $188 $125 $150 $99,752
Jun, 2043 $291 $832 $188 $125 $150 $98,920
Jul, 2043 $289 $834 $188 $125 $150 $98,086
Aug, 2043 $286 $837 $188 $125 $150 $97,250
Sep, 2043 $284 $839 $188 $125 $150 $96,411
Oct, 2043 $281 $841 $188 $125 $150 $95,569
Nov, 2043 $279 $844 $188 $125 $150 $94,725
Dec, 2043 $276 $846 $188 $125 $150 $93,879
2043 $3,476 $9,995 $2,250 $1,500 $1,800 $93,879
Jan, 2044 $274 $849 $188 $125 $150 $93,030
Feb, 2044 $271 $851 $188 $125 $150 $92,179
Mar, 2044 $269 $854 $188 $125 $150 $91,325
Apr, 2044 $266 $856 $188 $125 $150 $90,469
May, 2044 $264 $859 $188 $125 $150 $89,610
Jun, 2044 $261 $861 $188 $125 $150 $88,749
Jul, 2044 $259 $864 $188 $125 $150 $87,885
Aug, 2044 $256 $866 $188 $125 $150 $87,019
Sep, 2044 $254 $869 $188 $125 $150 $86,150
Oct, 2044 $251 $871 $188 $125 $150 $85,279
Nov, 2044 $249 $874 $188 $125 $150 $84,405
Dec, 2044 $246 $876 $188 $125 $150 $83,529
2044 $3,121 $10,351 $2,250 $1,500 $1,800 $83,529
Jan, 2045 $244 $879 $188 $125 $150 $82,650
Feb, 2045 $241 $882 $188 $125 $150 $81,768
Mar, 2045 $238 $884 $188 $125 $150 $80,884
Apr, 2045 $236 $887 $188 $125 $150 $79,997
May, 2045 $233 $889 $188 $125 $150 $79,108
Jun, 2045 $231 $892 $188 $125 $150 $78,216
Jul, 2045 $228 $894 $188 $125 $150 $77,322
Aug, 2045 $226 $897 $188 $125 $150 $76,424
Sep, 2045 $223 $900 $188 $125 $150 $75,525
Oct, 2045 $220 $902 $188 $125 $150 $74,622
Nov, 2045 $218 $905 $188 $125 $150 $73,717
Dec, 2045 $215 $908 $188 $125 $150 $72,810
2045 $2,753 $10,719 $2,250 $1,500 $1,800 $72,810
Jan, 2046 $212 $910 $188 $125 $150 $71,900
Feb, 2046 $210 $913 $188 $125 $150 $70,987
Mar, 2046 $207 $916 $188 $125 $150 $70,071
Apr, 2046 $204 $918 $188 $125 $150 $69,153
May, 2046 $202 $921 $188 $125 $150 $68,232
Jun, 2046 $199 $924 $188 $125 $150 $67,308
Jul, 2046 $196 $926 $188 $125 $150 $66,382
Aug, 2046 $194 $929 $188 $125 $150 $65,453
Sep, 2046 $191 $932 $188 $125 $150 $64,521
Oct, 2046 $188 $934 $188 $125 $150 $63,587
Nov, 2046 $185 $937 $188 $125 $150 $62,650
Dec, 2046 $183 $940 $188 $125 $150 $61,710
2046 $2,371 $11,100 $2,250 $1,500 $1,800 $61,710
Jan, 2047 $180 $943 $188 $125 $150 $60,767
Feb, 2047 $177 $945 $188 $125 $150 $59,822
Mar, 2047 $174 $948 $188 $125 $150 $58,874
Apr, 2047 $172 $951 $188 $125 $150 $57,923
May, 2047 $169 $954 $188 $125 $150 $56,969
Jun, 2047 $166 $956 $188 $125 $150 $56,013
Jul, 2047 $163 $959 $188 $125 $150 $55,054
Aug, 2047 $161 $962 $188 $125 $150 $54,092
Sep, 2047 $158 $965 $188 $125 $150 $53,127
Oct, 2047 $155 $968 $188 $125 $150 $52,159
Nov, 2047 $152 $970 $188 $125 $150 $51,189
Dec, 2047 $149 $973 $188 $125 $150 $50,215
2047 $1,977 $11,495 $2,250 $1,500 $1,800 $50,215
Jan, 2048 $146 $976 $188 $125 $150 $49,239
Feb, 2048 $144 $979 $188 $125 $150 $48,260
Mar, 2048 $141 $982 $188 $125 $150 $47,278
Apr, 2048 $138 $985 $188 $125 $150 $46,294
May, 2048 $135 $988 $188 $125 $150 $45,306
Jun, 2048 $132 $990 $188 $125 $150 $44,315
Jul, 2048 $129 $993 $188 $125 $150 $43,322
Aug, 2048 $126 $996 $188 $125 $150 $42,326
Sep, 2048 $123 $999 $188 $125 $150 $41,327
Oct, 2048 $121 $1,002 $188 $125 $150 $40,325
Nov, 2048 $118 $1,005 $188 $125 $150 $39,320
Dec, 2048 $115 $1,008 $188 $125 $150 $38,312
2048 $1,568 $11,904 $2,250 $1,500 $1,800 $38,312
Jan, 2049 $112 $1,011 $188 $125 $150 $37,301
Feb, 2049 $109 $1,014 $188 $125 $150 $36,287
Mar, 2049 $106 $1,017 $188 $125 $150 $35,270
Apr, 2049 $103 $1,020 $188 $125 $150 $34,250
May, 2049 $100 $1,023 $188 $125 $150 $33,228
Jun, 2049 $97 $1,026 $188 $125 $150 $32,202
Jul, 2049 $94 $1,029 $188 $125 $150 $31,173
Aug, 2049 $91 $1,032 $188 $125 $150 $30,142
Sep, 2049 $88 $1,035 $188 $125 $150 $29,107
Oct, 2049 $85 $1,038 $188 $125 $150 $28,069
Nov, 2049 $82 $1,041 $188 $125 $150 $27,029
Dec, 2049 $79 $1,044 $188 $125 $150 $25,985
2049 $1,144 $12,327 $2,250 $1,500 $1,800 $25,985
Jan, 2050 $76 $1,047 $188 $125 $150 $24,938
Feb, 2050 $73 $1,050 $188 $125 $150 $23,888
Mar, 2050 $70 $1,053 $188 $125 $150 $22,835
Apr, 2050 $67 $1,056 $188 $125 $150 $21,779
May, 2050 $64 $1,059 $188 $125 $150 $20,720
Jun, 2050 $60 $1,062 $188 $125 $150 $19,658
Jul, 2050 $57 $1,065 $188 $125 $150 $18,593
Aug, 2050 $54 $1,068 $188 $125 $150 $17,524
Sep, 2050 $51 $1,071 $188 $125 $150 $16,453
Oct, 2050 $48 $1,075 $188 $125 $150 $15,378
Nov, 2050 $45 $1,078 $188 $125 $150 $14,300
Dec, 2050 $42 $1,081 $188 $125 $150 $13,219
2050 $706 $12,765 $2,250 $1,500 $1,800 $13,219
Jan, 2051 $39 $1,084 $188 $125 $150 $12,135
Feb, 2051 $35 $1,087 $188 $125 $150 $11,048
Mar, 2051 $32 $1,090 $188 $125 $150 $9,958
Apr, 2051 $29 $1,094 $188 $125 $150 $8,864
May, 2051 $26 $1,097 $188 $125 $150 $7,767
Jun, 2051 $23 $1,100 $188 $125 $150 $6,667
Jul, 2051 $19 $1,103 $188 $125 $150 $5,564
Aug, 2051 $16 $1,106 $188 $125 $150 $4,458
Sep, 2051 $13 $1,110 $188 $125 $150 $3,348
Oct, 2051 $10 $1,113 $188 $125 $150 $2,235
Nov, 2051 $7 $1,116 $188 $125 $150 $1,119
Dec, 2051 $3 $1,119 $188 $125 $150 $0
2051 $252 $13,219 $2,250 $1,500 $1,800 $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.