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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May, 2021 Apr, 2051
Loan Closing Loan Payoff

Compare Virginia Mortgage Rates

740-850 FICO UP TO 2.0 POINTS

MAY 10, 2021

 
2.715%
APR
$1,005
per month
30 Year
Fixed
Rate: 2.625%
Fees: $2,935
Points: 1.174
Lock: 45 days
View Details
2.521%
APR
$972
per month
30 Year
Fixed
Rate: 2.375%
Fees: $4,865
Points: 1.946
Lock: 45 days
View Details
2.616%
APR
$988
per month
30 Year
Fixed
Rate: 2.500%
Fees: $3,848
Points: 1.539
Lock: 30 days
View Details
3.184%
APR
$1,053
per month
30 Year
Fixed
Rate: 2.990%
Fees: $6,250
Points: 2.000
Lock: 45 days
View Details
2.715%
APR
$1,005
per month
30 Year
Fixed
Rate: 2.625%
Fees: $2,935
Points: 1.174
Lock: 45 days
View Details
2.404%
APR
$956
per month
30 Year
Fixed
Rate: 2.250%
Fees: $5,180
Points: 1.672
Lock: 30 days
View Details
  • Certified Pre-Approval Process
  • Customized Rate Quotes, no SSN or Hard Credit Pull
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View Details
  Monthly Annual Total of 360 Payments
Principal $393 — $1,119 $3,180 — $13,066 $250,000
Interest $3 — $729 $33 — $8,560 $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
May, 2021 $729 $393 $188 $125 $150 $249,607
Jun, 2021 $728 $395 $188 $125 $150 $249,212
Jul, 2021 $727 $396 $188 $125 $150 $248,816
Aug, 2021 $726 $397 $188 $125 $150 $248,419
Sep, 2021 $725 $398 $188 $125 $150 $248,021
Oct, 2021 $723 $399 $188 $125 $150 $247,622
Nov, 2021 $722 $400 $188 $125 $150 $247,222
Dec, 2021 $721 $402 $188 $125 $150 $246,820
2021 $5,801 $3,180 $1,500 $1,000 $1,200 $246,820
Jan, 2022 $720 $403 $188 $125 $150 $246,417
Feb, 2022 $719 $404 $188 $125 $150 $246,014
Mar, 2022 $718 $405 $188 $125 $150 $245,608
Apr, 2022 $716 $406 $188 $125 $150 $245,202
May, 2022 $715 $407 $188 $125 $150 $244,795
Jun, 2022 $714 $409 $188 $125 $150 $244,386
Jul, 2022 $713 $410 $188 $125 $150 $243,976
Aug, 2022 $712 $411 $188 $125 $150 $243,565
Sep, 2022 $710 $412 $188 $125 $150 $243,153
Oct, 2022 $709 $413 $188 $125 $150 $242,740
Nov, 2022 $708 $415 $188 $125 $150 $242,325
Dec, 2022 $707 $416 $188 $125 $150 $241,909
2022 $8,560 $4,911 $2,250 $1,500 $1,800 $241,909
Jan, 2023 $706 $417 $188 $125 $150 $241,492
Feb, 2023 $704 $418 $188 $125 $150 $241,074
Mar, 2023 $703 $419 $188 $125 $150 $240,654
Apr, 2023 $702 $421 $188 $125 $150 $240,234
May, 2023 $701 $422 $188 $125 $150 $239,812
Jun, 2023 $699 $423 $188 $125 $150 $239,389
Jul, 2023 $698 $424 $188 $125 $150 $238,964
Aug, 2023 $697 $426 $188 $125 $150 $238,539
Sep, 2023 $696 $427 $188 $125 $150 $238,112
Oct, 2023 $694 $428 $188 $125 $150 $237,684
Nov, 2023 $693 $429 $188 $125 $150 $237,254
Dec, 2023 $692 $431 $188 $125 $150 $236,824
2023 $8,386 $5,086 $2,250 $1,500 $1,800 $236,824
Jan, 2024 $691 $432 $188 $125 $150 $236,392
Feb, 2024 $689 $433 $188 $125 $150 $235,959
Mar, 2024 $688 $434 $188 $125 $150 $235,524
Apr, 2024 $687 $436 $188 $125 $150 $235,089
May, 2024 $686 $437 $188 $125 $150 $234,652
Jun, 2024 $684 $438 $188 $125 $150 $234,213
Jul, 2024 $683 $439 $188 $125 $150 $233,774
Aug, 2024 $682 $441 $188 $125 $150 $233,333
Sep, 2024 $681 $442 $188 $125 $150 $232,891
Oct, 2024 $679 $443 $188 $125 $150 $232,448
Nov, 2024 $678 $445 $188 $125 $150 $232,003
Dec, 2024 $677 $446 $188 $125 $150 $231,557
2024 $8,205 $5,266 $2,250 $1,500 $1,800 $231,557
Jan, 2025 $675 $447 $188 $125 $150 $231,110
Feb, 2025 $674 $449 $188 $125 $150 $230,661
Mar, 2025 $673 $450 $188 $125 $150 $230,212
Apr, 2025 $671 $451 $188 $125 $150 $229,760
May, 2025 $670 $452 $188 $125 $150 $229,308
Jun, 2025 $669 $454 $188 $125 $150 $228,854
Jul, 2025 $667 $455 $188 $125 $150 $228,399
Aug, 2025 $666 $456 $188 $125 $150 $227,943
Sep, 2025 $665 $458 $188 $125 $150 $227,485
Oct, 2025 $663 $459 $188 $125 $150 $227,026
Nov, 2025 $662 $460 $188 $125 $150 $226,565
Dec, 2025 $661 $462 $188 $125 $150 $226,103
2025 $8,018 $5,454 $2,250 $1,500 $1,800 $226,103
Jan, 2026 $659 $463 $188 $125 $150 $225,640
Feb, 2026 $658 $464 $188 $125 $150 $225,176
Mar, 2026 $657 $466 $188 $125 $150 $224,710
Apr, 2026 $655 $467 $188 $125 $150 $224,243
May, 2026 $654 $469 $188 $125 $150 $223,774
Jun, 2026 $653 $470 $188 $125 $150 $223,304
Jul, 2026 $651 $471 $188 $125 $150 $222,833
Aug, 2026 $650 $473 $188 $125 $150 $222,360
Sep, 2026 $649 $474 $188 $125 $150 $221,886
Oct, 2026 $647 $475 $188 $125 $150 $221,411
Nov, 2026 $646 $477 $188 $125 $150 $220,934
Dec, 2026 $644 $478 $188 $125 $150 $220,456
2026 $7,824 $5,648 $2,250 $1,500 $1,800 $220,456
Jan, 2027 $643 $480 $188 $125 $150 $219,976
Feb, 2027 $642 $481 $188 $125 $150 $219,495
Mar, 2027 $640 $482 $188 $125 $150 $219,013
Apr, 2027 $639 $484 $188 $125 $150 $218,529
May, 2027 $637 $485 $188 $125 $150 $218,044
Jun, 2027 $636 $487 $188 $125 $150 $217,557
Jul, 2027 $635 $488 $188 $125 $150 $217,069
Aug, 2027 $633 $489 $188 $125 $150 $216,579
Sep, 2027 $632 $491 $188 $125 $150 $216,088
Oct, 2027 $630 $492 $188 $125 $150 $215,596
Nov, 2027 $629 $494 $188 $125 $150 $215,102
Dec, 2027 $627 $495 $188 $125 $150 $214,607
2027 $7,623 $5,849 $2,250 $1,500 $1,800 $214,607
Jan, 2028 $626 $497 $188 $125 $150 $214,110
Feb, 2028 $624 $498 $188 $125 $150 $213,612
Mar, 2028 $623 $500 $188 $125 $150 $213,113
Apr, 2028 $622 $501 $188 $125 $150 $212,612
May, 2028 $620 $502 $188 $125 $150 $212,109
Jun, 2028 $619 $504 $188 $125 $150 $211,605
Jul, 2028 $617 $505 $188 $125 $150 $211,100
Aug, 2028 $616 $507 $188 $125 $150 $210,593
Sep, 2028 $614 $508 $188 $125 $150 $210,084
Oct, 2028 $613 $510 $188 $125 $150 $209,575
Nov, 2028 $611 $511 $188 $125 $150 $209,063
Dec, 2028 $610 $513 $188 $125 $150 $208,550
2028 $7,415 $6,057 $2,250 $1,500 $1,800 $208,550
Jan, 2029 $608 $514 $188 $125 $150 $208,036
Feb, 2029 $607 $516 $188 $125 $150 $207,520
Mar, 2029 $605 $517 $188 $125 $150 $207,003
Apr, 2029 $604 $519 $188 $125 $150 $206,484
May, 2029 $602 $520 $188 $125 $150 $205,964
Jun, 2029 $601 $522 $188 $125 $150 $205,442
Jul, 2029 $599 $523 $188 $125 $150 $204,918
Aug, 2029 $598 $525 $188 $125 $150 $204,393
Sep, 2029 $596 $526 $188 $125 $150 $203,867
Oct, 2029 $595 $528 $188 $125 $150 $203,339
Nov, 2029 $593 $530 $188 $125 $150 $202,809
Dec, 2029 $592 $531 $188 $125 $150 $202,278
2029 $7,199 $6,272 $2,250 $1,500 $1,800 $202,278
Jan, 2030 $590 $533 $188 $125 $150 $201,746
Feb, 2030 $588 $534 $188 $125 $150 $201,211
Mar, 2030 $587 $536 $188 $125 $150 $200,676
Apr, 2030 $585 $537 $188 $125 $150 $200,138
May, 2030 $584 $539 $188 $125 $150 $199,600
Jun, 2030 $582 $540 $188 $125 $150 $199,059
Jul, 2030 $581 $542 $188 $125 $150 $198,517
Aug, 2030 $579 $544 $188 $125 $150 $197,973
Sep, 2030 $577 $545 $188 $125 $150 $197,428
Oct, 2030 $576 $547 $188 $125 $150 $196,882
Nov, 2030 $574 $548 $188 $125 $150 $196,333
Dec, 2030 $573 $550 $188 $125 $150 $195,783
2030 $6,976 $6,495 $2,250 $1,500 $1,800 $195,783
Jan, 2031 $571 $552 $188 $125 $150 $195,232
Feb, 2031 $569 $553 $188 $125 $150 $194,678
Mar, 2031 $568 $555 $188 $125 $150 $194,124
Apr, 2031 $566 $556 $188 $125 $150 $193,567
May, 2031 $565 $558 $188 $125 $150 $193,009
Jun, 2031 $563 $560 $188 $125 $150 $192,449
Jul, 2031 $561 $561 $188 $125 $150 $191,888
Aug, 2031 $560 $563 $188 $125 $150 $191,325
Sep, 2031 $558 $565 $188 $125 $150 $190,761
Oct, 2031 $556 $566 $188 $125 $150 $190,194
Nov, 2031 $555 $568 $188 $125 $150 $189,627
Dec, 2031 $553 $570 $188 $125 $150 $189,057
2031 $6,745 $6,726 $2,250 $1,500 $1,800 $189,057
Jan, 2032 $551 $571 $188 $125 $150 $188,486
Feb, 2032 $550 $573 $188 $125 $150 $187,913
Mar, 2032 $548 $575 $188 $125 $150 $187,338
Apr, 2032 $546 $576 $188 $125 $150 $186,762
May, 2032 $545 $578 $188 $125 $150 $186,184
Jun, 2032 $543 $580 $188 $125 $150 $185,605
Jul, 2032 $541 $581 $188 $125 $150 $185,023
Aug, 2032 $540 $583 $188 $125 $150 $184,441
Sep, 2032 $538 $585 $188 $125 $150 $183,856
Oct, 2032 $536 $586 $188 $125 $150 $183,270
Nov, 2032 $535 $588 $188 $125 $150 $182,681
Dec, 2032 $533 $590 $188 $125 $150 $182,092
2032 $6,506 $6,965 $2,250 $1,500 $1,800 $182,092
Jan, 2033 $531 $592 $188 $125 $150 $181,500
Feb, 2033 $529 $593 $188 $125 $150 $180,907
Mar, 2033 $528 $595 $188 $125 $150 $180,312
Apr, 2033 $526 $597 $188 $125 $150 $179,715
May, 2033 $524 $598 $188 $125 $150 $179,117
Jun, 2033 $522 $600 $188 $125 $150 $178,517
Jul, 2033 $521 $602 $188 $125 $150 $177,915
Aug, 2033 $519 $604 $188 $125 $150 $177,311
Sep, 2033 $517 $605 $188 $125 $150 $176,706
Oct, 2033 $515 $607 $188 $125 $150 $176,098
Nov, 2033 $514 $609 $188 $125 $150 $175,489
Dec, 2033 $512 $611 $188 $125 $150 $174,879
2033 $6,258 $7,213 $2,250 $1,500 $1,800 $174,879
Jan, 2034 $510 $613 $188 $125 $150 $174,266
Feb, 2034 $508 $614 $188 $125 $150 $173,652
Mar, 2034 $506 $616 $188 $125 $150 $173,036
Apr, 2034 $505 $618 $188 $125 $150 $172,418
May, 2034 $503 $620 $188 $125 $150 $171,798
Jun, 2034 $501 $622 $188 $125 $150 $171,176
Jul, 2034 $499 $623 $188 $125 $150 $170,553
Aug, 2034 $497 $625 $188 $125 $150 $169,928
Sep, 2034 $496 $627 $188 $125 $150 $169,301
Oct, 2034 $494 $629 $188 $125 $150 $168,672
Nov, 2034 $492 $631 $188 $125 $150 $168,041
Dec, 2034 $490 $632 $188 $125 $150 $167,409
2034 $6,002 $7,470 $2,250 $1,500 $1,800 $167,409
Jan, 2035 $488 $634 $188 $125 $150 $166,775
Feb, 2035 $486 $636 $188 $125 $150 $166,138
Mar, 2035 $485 $638 $188 $125 $150 $165,500
Apr, 2035 $483 $640 $188 $125 $150 $164,860
May, 2035 $481 $642 $188 $125 $150 $164,219
Jun, 2035 $479 $644 $188 $125 $150 $163,575
Jul, 2035 $477 $646 $188 $125 $150 $162,929
Aug, 2035 $475 $647 $188 $125 $150 $162,282
Sep, 2035 $473 $649 $188 $125 $150 $161,633
Oct, 2035 $471 $651 $188 $125 $150 $160,982
Nov, 2035 $470 $653 $188 $125 $150 $160,329
Dec, 2035 $468 $655 $188 $125 $150 $159,674
2035 $5,736 $7,735 $2,250 $1,500 $1,800 $159,674
Jan, 2036 $466 $657 $188 $125 $150 $159,017
Feb, 2036 $464 $659 $188 $125 $150 $158,358
Mar, 2036 $462 $661 $188 $125 $150 $157,697
Apr, 2036 $460 $663 $188 $125 $150 $157,034
May, 2036 $458 $665 $188 $125 $150 $156,370
Jun, 2036 $456 $667 $188 $125 $150 $155,703
Jul, 2036 $454 $668 $188 $125 $150 $155,035
Aug, 2036 $452 $670 $188 $125 $150 $154,364
Sep, 2036 $450 $672 $188 $125 $150 $153,692
Oct, 2036 $448 $674 $188 $125 $150 $153,018
Nov, 2036 $446 $676 $188 $125 $150 $152,341
Dec, 2036 $444 $678 $188 $125 $150 $151,663
2036 $5,461 $8,010 $2,250 $1,500 $1,800 $151,663
Jan, 2037 $442 $680 $188 $125 $150 $150,983
Feb, 2037 $440 $682 $188 $125 $150 $150,301
Mar, 2037 $438 $684 $188 $125 $150 $149,616
Apr, 2037 $436 $686 $188 $125 $150 $148,930
May, 2037 $434 $688 $188 $125 $150 $148,242
Jun, 2037 $432 $690 $188 $125 $150 $147,552
Jul, 2037 $430 $692 $188 $125 $150 $146,859
Aug, 2037 $428 $694 $188 $125 $150 $146,165
Sep, 2037 $426 $696 $188 $125 $150 $145,469
Oct, 2037 $424 $698 $188 $125 $150 $144,770
Nov, 2037 $422 $700 $188 $125 $150 $144,070
Dec, 2037 $420 $702 $188 $125 $150 $143,368
2037 $5,176 $8,295 $2,250 $1,500 $1,800 $143,368
Jan, 2038 $418 $704 $188 $125 $150 $142,663
Feb, 2038 $416 $707 $188 $125 $150 $141,957
Mar, 2038 $414 $709 $188 $125 $150 $141,248
Apr, 2038 $412 $711 $188 $125 $150 $140,538
May, 2038 $410 $713 $188 $125 $150 $139,825
Jun, 2038 $408 $715 $188 $125 $150 $139,110
Jul, 2038 $406 $717 $188 $125 $150 $138,393
Aug, 2038 $404 $719 $188 $125 $150 $137,674
Sep, 2038 $402 $721 $188 $125 $150 $136,953
Oct, 2038 $399 $723 $188 $125 $150 $136,230
Nov, 2038 $397 $725 $188 $125 $150 $135,505
Dec, 2038 $395 $727 $188 $125 $150 $134,777
2038 $4,881 $8,590 $2,250 $1,500 $1,800 $134,777
Jan, 2039 $393 $730 $188 $125 $150 $134,048
Feb, 2039 $391 $732 $188 $125 $150 $133,316
Mar, 2039 $389 $734 $188 $125 $150 $132,582
Apr, 2039 $387 $736 $188 $125 $150 $131,846
May, 2039 $385 $738 $188 $125 $150 $131,108
Jun, 2039 $382 $740 $188 $125 $150 $130,368
Jul, 2039 $380 $742 $188 $125 $150 $129,626
Aug, 2039 $378 $745 $188 $125 $150 $128,881
Sep, 2039 $376 $747 $188 $125 $150 $128,135
Oct, 2039 $374 $749 $188 $125 $150 $127,386
Nov, 2039 $372 $751 $188 $125 $150 $126,635
Dec, 2039 $369 $753 $188 $125 $150 $125,881
2039 $4,575 $8,896 $2,250 $1,500 $1,800 $125,881
Jan, 2040 $367 $755 $188 $125 $150 $125,126
Feb, 2040 $365 $758 $188 $125 $150 $124,368
Mar, 2040 $363 $760 $188 $125 $150 $123,608
Apr, 2040 $361 $762 $188 $125 $150 $122,846
May, 2040 $358 $764 $188 $125 $150 $122,082
Jun, 2040 $356 $767 $188 $125 $150 $121,315
Jul, 2040 $354 $769 $188 $125 $150 $120,547
Aug, 2040 $352 $771 $188 $125 $150 $119,776
Sep, 2040 $349 $773 $188 $125 $150 $119,002
Oct, 2040 $347 $776 $188 $125 $150 $118,227
Nov, 2040 $345 $778 $188 $125 $150 $117,449
Dec, 2040 $343 $780 $188 $125 $150 $116,669
2040 $4,259 $9,212 $2,250 $1,500 $1,800 $116,669
Jan, 2041 $340 $782 $188 $125 $150 $115,887
Feb, 2041 $338 $785 $188 $125 $150 $115,102
Mar, 2041 $336 $787 $188 $125 $150 $114,315
Apr, 2041 $333 $789 $188 $125 $150 $113,526
May, 2041 $331 $791 $188 $125 $150 $112,735
Jun, 2041 $329 $794 $188 $125 $150 $111,941
Jul, 2041 $326 $796 $188 $125 $150 $111,145
Aug, 2041 $324 $798 $188 $125 $150 $110,346
Sep, 2041 $322 $801 $188 $125 $150 $109,545
Oct, 2041 $320 $803 $188 $125 $150 $108,742
Nov, 2041 $317 $805 $188 $125 $150 $107,937
Dec, 2041 $315 $808 $188 $125 $150 $107,129
2041 $3,931 $9,540 $2,250 $1,500 $1,800 $107,129
Jan, 2042 $312 $810 $188 $125 $150 $106,319
Feb, 2042 $310 $813 $188 $125 $150 $105,506
Mar, 2042 $308 $815 $188 $125 $150 $104,691
Apr, 2042 $305 $817 $188 $125 $150 $103,874
May, 2042 $303 $820 $188 $125 $150 $103,055
Jun, 2042 $301 $822 $188 $125 $150 $102,233
Jul, 2042 $298 $824 $188 $125 $150 $101,408
Aug, 2042 $296 $827 $188 $125 $150 $100,581
Sep, 2042 $293 $829 $188 $125 $150 $99,752
Oct, 2042 $291 $832 $188 $125 $150 $98,920
Nov, 2042 $289 $834 $188 $125 $150 $98,086
Dec, 2042 $286 $837 $188 $125 $150 $97,250
2042 $3,592 $9,879 $2,250 $1,500 $1,800 $97,250
Jan, 2043 $284 $839 $188 $125 $150 $96,411
Feb, 2043 $281 $841 $188 $125 $150 $95,569
Mar, 2043 $279 $844 $188 $125 $150 $94,725
Apr, 2043 $276 $846 $188 $125 $150 $93,879
May, 2043 $274 $849 $188 $125 $150 $93,030
Jun, 2043 $271 $851 $188 $125 $150 $92,179
Jul, 2043 $269 $854 $188 $125 $150 $91,325
Aug, 2043 $266 $856 $188 $125 $150 $90,469
Sep, 2043 $264 $859 $188 $125 $150 $89,610
Oct, 2043 $261 $861 $188 $125 $150 $88,749
Nov, 2043 $259 $864 $188 $125 $150 $87,885
Dec, 2043 $256 $866 $188 $125 $150 $87,019
2043 $3,241 $10,231 $2,250 $1,500 $1,800 $87,019
Jan, 2044 $254 $869 $188 $125 $150 $86,150
Feb, 2044 $251 $871 $188 $125 $150 $85,279
Mar, 2044 $249 $874 $188 $125 $150 $84,405
Apr, 2044 $246 $876 $188 $125 $150 $83,529
May, 2044 $244 $879 $188 $125 $150 $82,650
Jun, 2044 $241 $882 $188 $125 $150 $81,768
Jul, 2044 $238 $884 $188 $125 $150 $80,884
Aug, 2044 $236 $887 $188 $125 $150 $79,997
Sep, 2044 $233 $889 $188 $125 $150 $79,108
Oct, 2044 $231 $892 $188 $125 $150 $78,216
Nov, 2044 $228 $894 $188 $125 $150 $77,322
Dec, 2044 $226 $897 $188 $125 $150 $76,424
2044 $2,877 $10,595 $2,250 $1,500 $1,800 $76,424
Jan, 2045 $223 $900 $188 $125 $150 $75,525
Feb, 2045 $220 $902 $188 $125 $150 $74,622
Mar, 2045 $218 $905 $188 $125 $150 $73,717
Apr, 2045 $215 $908 $188 $125 $150 $72,810
May, 2045 $212 $910 $188 $125 $150 $71,900
Jun, 2045 $210 $913 $188 $125 $150 $70,987
Jul, 2045 $207 $916 $188 $125 $150 $70,071
Aug, 2045 $204 $918 $188 $125 $150 $69,153
Sep, 2045 $202 $921 $188 $125 $150 $68,232
Oct, 2045 $199 $924 $188 $125 $150 $67,308
Nov, 2045 $196 $926 $188 $125 $150 $66,382
Dec, 2045 $194 $929 $188 $125 $150 $65,453
2045 $2,500 $10,971 $2,250 $1,500 $1,800 $65,453
Jan, 2046 $191 $932 $188 $125 $150 $64,521
Feb, 2046 $188 $934 $188 $125 $150 $63,587
Mar, 2046 $185 $937 $188 $125 $150 $62,650
Apr, 2046 $183 $940 $188 $125 $150 $61,710
May, 2046 $180 $943 $188 $125 $150 $60,767
Jun, 2046 $177 $945 $188 $125 $150 $59,822
Jul, 2046 $174 $948 $188 $125 $150 $58,874
Aug, 2046 $172 $951 $188 $125 $150 $57,923
Sep, 2046 $169 $954 $188 $125 $150 $56,969
Oct, 2046 $166 $956 $188 $125 $150 $56,013
Nov, 2046 $163 $959 $188 $125 $150 $55,054
Dec, 2046 $161 $962 $188 $125 $150 $54,092
2046 $2,110 $11,362 $2,250 $1,500 $1,800 $54,092
Jan, 2047 $158 $965 $188 $125 $150 $53,127
Feb, 2047 $155 $968 $188 $125 $150 $52,159
Mar, 2047 $152 $970 $188 $125 $150 $51,189
Apr, 2047 $149 $973 $188 $125 $150 $50,215
May, 2047 $146 $976 $188 $125 $150 $49,239
Jun, 2047 $144 $979 $188 $125 $150 $48,260
Jul, 2047 $141 $982 $188 $125 $150 $47,278
Aug, 2047 $138 $985 $188 $125 $150 $46,294
Sep, 2047 $135 $988 $188 $125 $150 $45,306
Oct, 2047 $132 $990 $188 $125 $150 $44,315
Nov, 2047 $129 $993 $188 $125 $150 $43,322
Dec, 2047 $126 $996 $188 $125 $150 $42,326
2047 $1,706 $11,766 $2,250 $1,500 $1,800 $42,326
Jan, 2048 $123 $999 $188 $125 $150 $41,327
Feb, 2048 $121 $1,002 $188 $125 $150 $40,325
Mar, 2048 $118 $1,005 $188 $125 $150 $39,320
Apr, 2048 $115 $1,008 $188 $125 $150 $38,312
May, 2048 $112 $1,011 $188 $125 $150 $37,301
Jun, 2048 $109 $1,014 $188 $125 $150 $36,287
Jul, 2048 $106 $1,017 $188 $125 $150 $35,270
Aug, 2048 $103 $1,020 $188 $125 $150 $34,250
Sep, 2048 $100 $1,023 $188 $125 $150 $33,228
Oct, 2048 $97 $1,026 $188 $125 $150 $32,202
Nov, 2048 $94 $1,029 $188 $125 $150 $31,173
Dec, 2048 $91 $1,032 $188 $125 $150 $30,142
2048 $1,287 $12,184 $2,250 $1,500 $1,800 $30,142
Jan, 2049 $88 $1,035 $188 $125 $150 $29,107
Feb, 2049 $85 $1,038 $188 $125 $150 $28,069
Mar, 2049 $82 $1,041 $188 $125 $150 $27,029
Apr, 2049 $79 $1,044 $188 $125 $150 $25,985
May, 2049 $76 $1,047 $188 $125 $150 $24,938
Jun, 2049 $73 $1,050 $188 $125 $150 $23,888
Jul, 2049 $70 $1,053 $188 $125 $150 $22,835
Aug, 2049 $67 $1,056 $188 $125 $150 $21,779
Sep, 2049 $64 $1,059 $188 $125 $150 $20,720
Oct, 2049 $60 $1,062 $188 $125 $150 $19,658
Nov, 2049 $57 $1,065 $188 $125 $150 $18,593
Dec, 2049 $54 $1,068 $188 $125 $150 $17,524
2049 $854 $12,618 $2,250 $1,500 $1,800 $17,524
Jan, 2050 $51 $1,071 $188 $125 $150 $16,453
Feb, 2050 $48 $1,075 $188 $125 $150 $15,378
Mar, 2050 $45 $1,078 $188 $125 $150 $14,300
Apr, 2050 $42 $1,081 $188 $125 $150 $13,219
May, 2050 $39 $1,084 $188 $125 $150 $12,135
Jun, 2050 $35 $1,087 $188 $125 $150 $11,048
Jul, 2050 $32 $1,090 $188 $125 $150 $9,958
Aug, 2050 $29 $1,094 $188 $125 $150 $8,864
Sep, 2050 $26 $1,097 $188 $125 $150 $7,767
Oct, 2050 $23 $1,100 $188 $125 $150 $6,667
Nov, 2050 $19 $1,103 $188 $125 $150 $5,564
Dec, 2050 $16 $1,106 $188 $125 $150 $4,458
2050 $405 $13,066 $2,250 $1,500 $1,800 $4,458
Jan, 2051 $13 $1,110 $188 $125 $150 $3,348
Feb, 2051 $10 $1,113 $188 $125 $150 $2,235
Mar, 2051 $7 $1,116 $188 $125 $150 $1,119
Apr, 2051 $3 $1,119 $188 $125 $150 $0
2051 $33 $4,458 $750 $500 $600 $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.