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)
 
Loading chart. Please wait...
Dec, 2021 Nov, 2051
Loan Closing Loan Payoff

Compare Virginia Mortgage Rates

740-850 FICO UP TO 2.0 POINTS

DEC 08, 2021

 
3.564%
APR
$1,106
per month
30 Year
Fixed
Rate: 3.375%
Fees: $5,938
Points: 1.875
Lock: 30 days
View Details
2.875%
APR
$1,021
per month
30 Year
Fixed
Rate: 2.750%
Fees: $4,062
Points: 1.625
Lock: 30 days
View Details
2.951%
APR
$1,028
per month
30 Year
Fixed
Rate: 2.800%
Fees: $4,925
Points: 1.970
Lock: 30 days
View Details
2.606%
APR
$988
per month
30 Year
Fixed
Rate: 2.500%
Fees: $3,488
Points: 1.277
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
3.564%
APR
$1,106
per month
30 Year
Fixed
Rate: 3.375%
Fees: $5,938
Points: 1.875
Lock: 30 days
View Details
2.951%
APR
$1,021
per month
30 Year
Fixed
Rate: 2.750%
Fees: $6,566
Points: 1.975
Lock: 30 days
View Details
2.951%
APR
$1,028
per month
30 Year
Fixed
Rate: 2.800%
Fees: $4,925
Points: 1.970
Lock: 30 days
View Details
2.771%
APR
$1,005
per month
30 Year
Fixed
Rate: 2.625%
Fees: $4,808
Points: 1.923
Lock: 30 days
View Details
2.875%
APR
$1,021
per month
30 Year
Fixed
Rate: 2.750%
Fees: $4,062
Points: 1.625
Lock: 30 days
View Details
2.740%
APR
$1,005
per month
30 Year
Fixed
Rate: 2.625%
Fees: $3,782
Points: 1.513
Lock: 30 days
View Details
  • Certified Pre-Approval Process
  • Customized Rate Quotes, no SSN or Hard Credit Pull
  • 24 x 7 Online Customer Portal Access
View Details
  • Pay Off Higher Interest Rates Credit Cards, Pay College Tuition
  • Cash Out, Debt Consolidation Options Available
  • Offers Flexible Terms from 8 to 30 Years
  • Over 170k Positive Reviews, A+ Rating With BBB
View Details
  Monthly Annual Total of 360 Payments
Principal $393 — $1,119 $393 — $12,803 $250,000
Interest $3 — $729 $213 — $8,660 $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
Dec, 2021 $729 $393 $188 $125 $150 $249,607
2021 $729 $393 $188 $125 $150 $249,607
Jan, 2022 $728 $395 $188 $125 $150 $249,212
Feb, 2022 $727 $396 $188 $125 $150 $248,816
Mar, 2022 $726 $397 $188 $125 $150 $248,419
Apr, 2022 $725 $398 $188 $125 $150 $248,021
May, 2022 $723 $399 $188 $125 $150 $247,622
Jun, 2022 $722 $400 $188 $125 $150 $247,222
Jul, 2022 $721 $402 $188 $125 $150 $246,820
Aug, 2022 $720 $403 $188 $125 $150 $246,417
Sep, 2022 $719 $404 $188 $125 $150 $246,014
Oct, 2022 $718 $405 $188 $125 $150 $245,608
Nov, 2022 $716 $406 $188 $125 $150 $245,202
Dec, 2022 $715 $407 $188 $125 $150 $244,795
2022 $8,660 $4,812 $2,250 $1,500 $1,800 $244,795
Jan, 2023 $714 $409 $188 $125 $150 $244,386
Feb, 2023 $713 $410 $188 $125 $150 $243,976
Mar, 2023 $712 $411 $188 $125 $150 $243,565
Apr, 2023 $710 $412 $188 $125 $150 $243,153
May, 2023 $709 $413 $188 $125 $150 $242,740
Jun, 2023 $708 $415 $188 $125 $150 $242,325
Jul, 2023 $707 $416 $188 $125 $150 $241,909
Aug, 2023 $706 $417 $188 $125 $150 $241,492
Sep, 2023 $704 $418 $188 $125 $150 $241,074
Oct, 2023 $703 $419 $188 $125 $150 $240,654
Nov, 2023 $702 $421 $188 $125 $150 $240,234
Dec, 2023 $701 $422 $188 $125 $150 $239,812
2023 $8,488 $4,983 $2,250 $1,500 $1,800 $239,812
Jan, 2024 $699 $423 $188 $125 $150 $239,389
Feb, 2024 $698 $424 $188 $125 $150 $238,964
Mar, 2024 $697 $426 $188 $125 $150 $238,539
Apr, 2024 $696 $427 $188 $125 $150 $238,112
May, 2024 $694 $428 $188 $125 $150 $237,684
Jun, 2024 $693 $429 $188 $125 $150 $237,254
Jul, 2024 $692 $431 $188 $125 $150 $236,824
Aug, 2024 $691 $432 $188 $125 $150 $236,392
Sep, 2024 $689 $433 $188 $125 $150 $235,959
Oct, 2024 $688 $434 $188 $125 $150 $235,524
Nov, 2024 $687 $436 $188 $125 $150 $235,089
Dec, 2024 $686 $437 $188 $125 $150 $234,652
2024 $8,311 $5,160 $2,250 $1,500 $1,800 $234,652
Jan, 2025 $684 $438 $188 $125 $150 $234,213
Feb, 2025 $683 $439 $188 $125 $150 $233,774
Mar, 2025 $682 $441 $188 $125 $150 $233,333
Apr, 2025 $681 $442 $188 $125 $150 $232,891
May, 2025 $679 $443 $188 $125 $150 $232,448
Jun, 2025 $678 $445 $188 $125 $150 $232,003
Jul, 2025 $677 $446 $188 $125 $150 $231,557
Aug, 2025 $675 $447 $188 $125 $150 $231,110
Sep, 2025 $674 $449 $188 $125 $150 $230,661
Oct, 2025 $673 $450 $188 $125 $150 $230,212
Nov, 2025 $671 $451 $188 $125 $150 $229,760
Dec, 2025 $670 $452 $188 $125 $150 $229,308
2025 $8,128 $5,344 $2,250 $1,500 $1,800 $229,308
Jan, 2026 $669 $454 $188 $125 $150 $228,854
Feb, 2026 $667 $455 $188 $125 $150 $228,399
Mar, 2026 $666 $456 $188 $125 $150 $227,943
Apr, 2026 $665 $458 $188 $125 $150 $227,485
May, 2026 $663 $459 $188 $125 $150 $227,026
Jun, 2026 $662 $460 $188 $125 $150 $226,565
Jul, 2026 $661 $462 $188 $125 $150 $226,103
Aug, 2026 $659 $463 $188 $125 $150 $225,640
Sep, 2026 $658 $464 $188 $125 $150 $225,176
Oct, 2026 $657 $466 $188 $125 $150 $224,710
Nov, 2026 $655 $467 $188 $125 $150 $224,243
Dec, 2026 $654 $469 $188 $125 $150 $223,774
2026 $7,938 $5,534 $2,250 $1,500 $1,800 $223,774
Jan, 2027 $653 $470 $188 $125 $150 $223,304
Feb, 2027 $651 $471 $188 $125 $150 $222,833
Mar, 2027 $650 $473 $188 $125 $150 $222,360
Apr, 2027 $649 $474 $188 $125 $150 $221,886
May, 2027 $647 $475 $188 $125 $150 $221,411
Jun, 2027 $646 $477 $188 $125 $150 $220,934
Jul, 2027 $644 $478 $188 $125 $150 $220,456
Aug, 2027 $643 $480 $188 $125 $150 $219,976
Sep, 2027 $642 $481 $188 $125 $150 $219,495
Oct, 2027 $640 $482 $188 $125 $150 $219,013
Nov, 2027 $639 $484 $188 $125 $150 $218,529
Dec, 2027 $637 $485 $188 $125 $150 $218,044
2027 $7,741 $5,731 $2,250 $1,500 $1,800 $218,044
Jan, 2028 $636 $487 $188 $125 $150 $217,557
Feb, 2028 $635 $488 $188 $125 $150 $217,069
Mar, 2028 $633 $489 $188 $125 $150 $216,579
Apr, 2028 $632 $491 $188 $125 $150 $216,088
May, 2028 $630 $492 $188 $125 $150 $215,596
Jun, 2028 $629 $494 $188 $125 $150 $215,102
Jul, 2028 $627 $495 $188 $125 $150 $214,607
Aug, 2028 $626 $497 $188 $125 $150 $214,110
Sep, 2028 $624 $498 $188 $125 $150 $213,612
Oct, 2028 $623 $500 $188 $125 $150 $213,113
Nov, 2028 $622 $501 $188 $125 $150 $212,612
Dec, 2028 $620 $502 $188 $125 $150 $212,109
2028 $7,537 $5,934 $2,250 $1,500 $1,800 $212,109
Jan, 2029 $619 $504 $188 $125 $150 $211,605
Feb, 2029 $617 $505 $188 $125 $150 $211,100
Mar, 2029 $616 $507 $188 $125 $150 $210,593
Apr, 2029 $614 $508 $188 $125 $150 $210,084
May, 2029 $613 $510 $188 $125 $150 $209,575
Jun, 2029 $611 $511 $188 $125 $150 $209,063
Jul, 2029 $610 $513 $188 $125 $150 $208,550
Aug, 2029 $608 $514 $188 $125 $150 $208,036
Sep, 2029 $607 $516 $188 $125 $150 $207,520
Oct, 2029 $605 $517 $188 $125 $150 $207,003
Nov, 2029 $604 $519 $188 $125 $150 $206,484
Dec, 2029 $602 $520 $188 $125 $150 $205,964
2029 $7,326 $6,145 $2,250 $1,500 $1,800 $205,964
Jan, 2030 $601 $522 $188 $125 $150 $205,442
Feb, 2030 $599 $523 $188 $125 $150 $204,918
Mar, 2030 $598 $525 $188 $125 $150 $204,393
Apr, 2030 $596 $526 $188 $125 $150 $203,867
May, 2030 $595 $528 $188 $125 $150 $203,339
Jun, 2030 $593 $530 $188 $125 $150 $202,809
Jul, 2030 $592 $531 $188 $125 $150 $202,278
Aug, 2030 $590 $533 $188 $125 $150 $201,746
Sep, 2030 $588 $534 $188 $125 $150 $201,211
Oct, 2030 $587 $536 $188 $125 $150 $200,676
Nov, 2030 $585 $537 $188 $125 $150 $200,138
Dec, 2030 $584 $539 $188 $125 $150 $199,600
2030 $7,107 $6,364 $2,250 $1,500 $1,800 $199,600
Jan, 2031 $582 $540 $188 $125 $150 $199,059
Feb, 2031 $581 $542 $188 $125 $150 $198,517
Mar, 2031 $579 $544 $188 $125 $150 $197,973
Apr, 2031 $577 $545 $188 $125 $150 $197,428
May, 2031 $576 $547 $188 $125 $150 $196,882
Jun, 2031 $574 $548 $188 $125 $150 $196,333
Jul, 2031 $573 $550 $188 $125 $150 $195,783
Aug, 2031 $571 $552 $188 $125 $150 $195,232
Sep, 2031 $569 $553 $188 $125 $150 $194,678
Oct, 2031 $568 $555 $188 $125 $150 $194,124
Nov, 2031 $566 $556 $188 $125 $150 $193,567
Dec, 2031 $565 $558 $188 $125 $150 $193,009
2031 $6,881 $6,590 $2,250 $1,500 $1,800 $193,009
Jan, 2032 $563 $560 $188 $125 $150 $192,449
Feb, 2032 $561 $561 $188 $125 $150 $191,888
Mar, 2032 $560 $563 $188 $125 $150 $191,325
Apr, 2032 $558 $565 $188 $125 $150 $190,761
May, 2032 $556 $566 $188 $125 $150 $190,194
Jun, 2032 $555 $568 $188 $125 $150 $189,627
Jul, 2032 $553 $570 $188 $125 $150 $189,057
Aug, 2032 $551 $571 $188 $125 $150 $188,486
Sep, 2032 $550 $573 $188 $125 $150 $187,913
Oct, 2032 $548 $575 $188 $125 $150 $187,338
Nov, 2032 $546 $576 $188 $125 $150 $186,762
Dec, 2032 $545 $578 $188 $125 $150 $186,184
2032 $6,647 $6,825 $2,250 $1,500 $1,800 $186,184
Jan, 2033 $543 $580 $188 $125 $150 $185,605
Feb, 2033 $541 $581 $188 $125 $150 $185,023
Mar, 2033 $540 $583 $188 $125 $150 $184,441
Apr, 2033 $538 $585 $188 $125 $150 $183,856
May, 2033 $536 $586 $188 $125 $150 $183,270
Jun, 2033 $535 $588 $188 $125 $150 $182,681
Jul, 2033 $533 $590 $188 $125 $150 $182,092
Aug, 2033 $531 $592 $188 $125 $150 $181,500
Sep, 2033 $529 $593 $188 $125 $150 $180,907
Oct, 2033 $528 $595 $188 $125 $150 $180,312
Nov, 2033 $526 $597 $188 $125 $150 $179,715
Dec, 2033 $524 $598 $188 $125 $150 $179,117
2033 $6,404 $7,068 $2,250 $1,500 $1,800 $179,117
Jan, 2034 $522 $600 $188 $125 $150 $178,517
Feb, 2034 $521 $602 $188 $125 $150 $177,915
Mar, 2034 $519 $604 $188 $125 $150 $177,311
Apr, 2034 $517 $605 $188 $125 $150 $176,706
May, 2034 $515 $607 $188 $125 $150 $176,098
Jun, 2034 $514 $609 $188 $125 $150 $175,489
Jul, 2034 $512 $611 $188 $125 $150 $174,879
Aug, 2034 $510 $613 $188 $125 $150 $174,266
Sep, 2034 $508 $614 $188 $125 $150 $173,652
Oct, 2034 $506 $616 $188 $125 $150 $173,036
Nov, 2034 $505 $618 $188 $125 $150 $172,418
Dec, 2034 $503 $620 $188 $125 $150 $171,798
2034 $6,152 $7,319 $2,250 $1,500 $1,800 $171,798
Jan, 2035 $501 $622 $188 $125 $150 $171,176
Feb, 2035 $499 $623 $188 $125 $150 $170,553
Mar, 2035 $497 $625 $188 $125 $150 $169,928
Apr, 2035 $496 $627 $188 $125 $150 $169,301
May, 2035 $494 $629 $188 $125 $150 $168,672
Jun, 2035 $492 $631 $188 $125 $150 $168,041
Jul, 2035 $490 $632 $188 $125 $150 $167,409
Aug, 2035 $488 $634 $188 $125 $150 $166,775
Sep, 2035 $486 $636 $188 $125 $150 $166,138
Oct, 2035 $485 $638 $188 $125 $150 $165,500
Nov, 2035 $483 $640 $188 $125 $150 $164,860
Dec, 2035 $481 $642 $188 $125 $150 $164,219
2035 $5,892 $7,579 $2,250 $1,500 $1,800 $164,219
Jan, 2036 $479 $644 $188 $125 $150 $163,575
Feb, 2036 $477 $646 $188 $125 $150 $162,929
Mar, 2036 $475 $647 $188 $125 $150 $162,282
Apr, 2036 $473 $649 $188 $125 $150 $161,633
May, 2036 $471 $651 $188 $125 $150 $160,982
Jun, 2036 $470 $653 $188 $125 $150 $160,329
Jul, 2036 $468 $655 $188 $125 $150 $159,674
Aug, 2036 $466 $657 $188 $125 $150 $159,017
Sep, 2036 $464 $659 $188 $125 $150 $158,358
Oct, 2036 $462 $661 $188 $125 $150 $157,697
Nov, 2036 $460 $663 $188 $125 $150 $157,034
Dec, 2036 $458 $665 $188 $125 $150 $156,370
2036 $5,623 $7,849 $2,250 $1,500 $1,800 $156,370
Jan, 2037 $456 $667 $188 $125 $150 $155,703
Feb, 2037 $454 $668 $188 $125 $150 $155,035
Mar, 2037 $452 $670 $188 $125 $150 $154,364
Apr, 2037 $450 $672 $188 $125 $150 $153,692
May, 2037 $448 $674 $188 $125 $150 $153,018
Jun, 2037 $446 $676 $188 $125 $150 $152,341
Jul, 2037 $444 $678 $188 $125 $150 $151,663
Aug, 2037 $442 $680 $188 $125 $150 $150,983
Sep, 2037 $440 $682 $188 $125 $150 $150,301
Oct, 2037 $438 $684 $188 $125 $150 $149,616
Nov, 2037 $436 $686 $188 $125 $150 $148,930
Dec, 2037 $434 $688 $188 $125 $150 $148,242
2037 $5,343 $8,128 $2,250 $1,500 $1,800 $148,242
Jan, 2038 $432 $690 $188 $125 $150 $147,552
Feb, 2038 $430 $692 $188 $125 $150 $146,859
Mar, 2038 $428 $694 $188 $125 $150 $146,165
Apr, 2038 $426 $696 $188 $125 $150 $145,469
May, 2038 $424 $698 $188 $125 $150 $144,770
Jun, 2038 $422 $700 $188 $125 $150 $144,070
Jul, 2038 $420 $702 $188 $125 $150 $143,368
Aug, 2038 $418 $704 $188 $125 $150 $142,663
Sep, 2038 $416 $707 $188 $125 $150 $141,957
Oct, 2038 $414 $709 $188 $125 $150 $141,248
Nov, 2038 $412 $711 $188 $125 $150 $140,538
Dec, 2038 $410 $713 $188 $125 $150 $139,825
2038 $5,054 $8,417 $2,250 $1,500 $1,800 $139,825
Jan, 2039 $408 $715 $188 $125 $150 $139,110
Feb, 2039 $406 $717 $188 $125 $150 $138,393
Mar, 2039 $404 $719 $188 $125 $150 $137,674
Apr, 2039 $402 $721 $188 $125 $150 $136,953
May, 2039 $399 $723 $188 $125 $150 $136,230
Jun, 2039 $397 $725 $188 $125 $150 $135,505
Jul, 2039 $395 $727 $188 $125 $150 $134,777
Aug, 2039 $393 $730 $188 $125 $150 $134,048
Sep, 2039 $391 $732 $188 $125 $150 $133,316
Oct, 2039 $389 $734 $188 $125 $150 $132,582
Nov, 2039 $387 $736 $188 $125 $150 $131,846
Dec, 2039 $385 $738 $188 $125 $150 $131,108
2039 $4,755 $8,716 $2,250 $1,500 $1,800 $131,108
Jan, 2040 $382 $740 $188 $125 $150 $130,368
Feb, 2040 $380 $742 $188 $125 $150 $129,626
Mar, 2040 $378 $745 $188 $125 $150 $128,881
Apr, 2040 $376 $747 $188 $125 $150 $128,135
May, 2040 $374 $749 $188 $125 $150 $127,386
Jun, 2040 $372 $751 $188 $125 $150 $126,635
Jul, 2040 $369 $753 $188 $125 $150 $125,881
Aug, 2040 $367 $755 $188 $125 $150 $125,126
Sep, 2040 $365 $758 $188 $125 $150 $124,368
Oct, 2040 $363 $760 $188 $125 $150 $123,608
Nov, 2040 $361 $762 $188 $125 $150 $122,846
Dec, 2040 $358 $764 $188 $125 $150 $122,082
2040 $4,445 $9,026 $2,250 $1,500 $1,800 $122,082
Jan, 2041 $356 $767 $188 $125 $150 $121,315
Feb, 2041 $354 $769 $188 $125 $150 $120,547
Mar, 2041 $352 $771 $188 $125 $150 $119,776
Apr, 2041 $349 $773 $188 $125 $150 $119,002
May, 2041 $347 $776 $188 $125 $150 $118,227
Jun, 2041 $345 $778 $188 $125 $150 $117,449
Jul, 2041 $343 $780 $188 $125 $150 $116,669
Aug, 2041 $340 $782 $188 $125 $150 $115,887
Sep, 2041 $338 $785 $188 $125 $150 $115,102
Oct, 2041 $336 $787 $188 $125 $150 $114,315
Nov, 2041 $333 $789 $188 $125 $150 $113,526
Dec, 2041 $331 $791 $188 $125 $150 $112,735
2041 $4,124 $9,347 $2,250 $1,500 $1,800 $112,735
Jan, 2042 $329 $794 $188 $125 $150 $111,941
Feb, 2042 $326 $796 $188 $125 $150 $111,145
Mar, 2042 $324 $798 $188 $125 $150 $110,346
Apr, 2042 $322 $801 $188 $125 $150 $109,545
May, 2042 $320 $803 $188 $125 $150 $108,742
Jun, 2042 $317 $805 $188 $125 $150 $107,937
Jul, 2042 $315 $808 $188 $125 $150 $107,129
Aug, 2042 $312 $810 $188 $125 $150 $106,319
Sep, 2042 $310 $813 $188 $125 $150 $105,506
Oct, 2042 $308 $815 $188 $125 $150 $104,691
Nov, 2042 $305 $817 $188 $125 $150 $103,874
Dec, 2042 $303 $820 $188 $125 $150 $103,055
2042 $3,791 $9,680 $2,250 $1,500 $1,800 $103,055
Jan, 2043 $301 $822 $188 $125 $150 $102,233
Feb, 2043 $298 $824 $188 $125 $150 $101,408
Mar, 2043 $296 $827 $188 $125 $150 $100,581
Apr, 2043 $293 $829 $188 $125 $150 $99,752
May, 2043 $291 $832 $188 $125 $150 $98,920
Jun, 2043 $289 $834 $188 $125 $150 $98,086
Jul, 2043 $286 $837 $188 $125 $150 $97,250
Aug, 2043 $284 $839 $188 $125 $150 $96,411
Sep, 2043 $281 $841 $188 $125 $150 $95,569
Oct, 2043 $279 $844 $188 $125 $150 $94,725
Nov, 2043 $276 $846 $188 $125 $150 $93,879
Dec, 2043 $274 $849 $188 $125 $150 $93,030
2043 $3,447 $10,024 $2,250 $1,500 $1,800 $93,030
Jan, 2044 $271 $851 $188 $125 $150 $92,179
Feb, 2044 $269 $854 $188 $125 $150 $91,325
Mar, 2044 $266 $856 $188 $125 $150 $90,469
Apr, 2044 $264 $859 $188 $125 $150 $89,610
May, 2044 $261 $861 $188 $125 $150 $88,749
Jun, 2044 $259 $864 $188 $125 $150 $87,885
Jul, 2044 $256 $866 $188 $125 $150 $87,019
Aug, 2044 $254 $869 $188 $125 $150 $86,150
Sep, 2044 $251 $871 $188 $125 $150 $85,279
Oct, 2044 $249 $874 $188 $125 $150 $84,405
Nov, 2044 $246 $876 $188 $125 $150 $83,529
Dec, 2044 $244 $879 $188 $125 $150 $82,650
2044 $3,091 $10,381 $2,250 $1,500 $1,800 $82,650
Jan, 2045 $241 $882 $188 $125 $150 $81,768
Feb, 2045 $238 $884 $188 $125 $150 $80,884
Mar, 2045 $236 $887 $188 $125 $150 $79,997
Apr, 2045 $233 $889 $188 $125 $150 $79,108
May, 2045 $231 $892 $188 $125 $150 $78,216
Jun, 2045 $228 $894 $188 $125 $150 $77,322
Jul, 2045 $226 $897 $188 $125 $150 $76,424
Aug, 2045 $223 $900 $188 $125 $150 $75,525
Sep, 2045 $220 $902 $188 $125 $150 $74,622
Oct, 2045 $218 $905 $188 $125 $150 $73,717
Nov, 2045 $215 $908 $188 $125 $150 $72,810
Dec, 2045 $212 $910 $188 $125 $150 $71,900
2045 $2,721 $10,750 $2,250 $1,500 $1,800 $71,900
Jan, 2046 $210 $913 $188 $125 $150 $70,987
Feb, 2046 $207 $916 $188 $125 $150 $70,071
Mar, 2046 $204 $918 $188 $125 $150 $69,153
Apr, 2046 $202 $921 $188 $125 $150 $68,232
May, 2046 $199 $924 $188 $125 $150 $67,308
Jun, 2046 $196 $926 $188 $125 $150 $66,382
Jul, 2046 $194 $929 $188 $125 $150 $65,453
Aug, 2046 $191 $932 $188 $125 $150 $64,521
Sep, 2046 $188 $934 $188 $125 $150 $63,587
Oct, 2046 $185 $937 $188 $125 $150 $62,650
Nov, 2046 $183 $940 $188 $125 $150 $61,710
Dec, 2046 $180 $943 $188 $125 $150 $60,767
2046 $2,339 $11,132 $2,250 $1,500 $1,800 $60,767
Jan, 2047 $177 $945 $188 $125 $150 $59,822
Feb, 2047 $174 $948 $188 $125 $150 $58,874
Mar, 2047 $172 $951 $188 $125 $150 $57,923
Apr, 2047 $169 $954 $188 $125 $150 $56,969
May, 2047 $166 $956 $188 $125 $150 $56,013
Jun, 2047 $163 $959 $188 $125 $150 $55,054
Jul, 2047 $161 $962 $188 $125 $150 $54,092
Aug, 2047 $158 $965 $188 $125 $150 $53,127
Sep, 2047 $155 $968 $188 $125 $150 $52,159
Oct, 2047 $152 $970 $188 $125 $150 $51,189
Nov, 2047 $149 $973 $188 $125 $150 $50,215
Dec, 2047 $146 $976 $188 $125 $150 $49,239
2047 $1,943 $11,528 $2,250 $1,500 $1,800 $49,239
Jan, 2048 $144 $979 $188 $125 $150 $48,260
Feb, 2048 $141 $982 $188 $125 $150 $47,278
Mar, 2048 $138 $985 $188 $125 $150 $46,294
Apr, 2048 $135 $988 $188 $125 $150 $45,306
May, 2048 $132 $990 $188 $125 $150 $44,315
Jun, 2048 $129 $993 $188 $125 $150 $43,322
Jul, 2048 $126 $996 $188 $125 $150 $42,326
Aug, 2048 $123 $999 $188 $125 $150 $41,327
Sep, 2048 $121 $1,002 $188 $125 $150 $40,325
Oct, 2048 $118 $1,005 $188 $125 $150 $39,320
Nov, 2048 $115 $1,008 $188 $125 $150 $38,312
Dec, 2048 $112 $1,011 $188 $125 $150 $37,301
2048 $1,533 $11,938 $2,250 $1,500 $1,800 $37,301
Jan, 2049 $109 $1,014 $188 $125 $150 $36,287
Feb, 2049 $106 $1,017 $188 $125 $150 $35,270
Mar, 2049 $103 $1,020 $188 $125 $150 $34,250
Apr, 2049 $100 $1,023 $188 $125 $150 $33,228
May, 2049 $97 $1,026 $188 $125 $150 $32,202
Jun, 2049 $94 $1,029 $188 $125 $150 $31,173
Jul, 2049 $91 $1,032 $188 $125 $150 $30,142
Aug, 2049 $88 $1,035 $188 $125 $150 $29,107
Sep, 2049 $85 $1,038 $188 $125 $150 $28,069
Oct, 2049 $82 $1,041 $188 $125 $150 $27,029
Nov, 2049 $79 $1,044 $188 $125 $150 $25,985
Dec, 2049 $76 $1,047 $188 $125 $150 $24,938
2049 $1,108 $12,363 $2,250 $1,500 $1,800 $24,938
Jan, 2050 $73 $1,050 $188 $125 $150 $23,888
Feb, 2050 $70 $1,053 $188 $125 $150 $22,835
Mar, 2050 $67 $1,056 $188 $125 $150 $21,779
Apr, 2050 $64 $1,059 $188 $125 $150 $20,720
May, 2050 $60 $1,062 $188 $125 $150 $19,658
Jun, 2050 $57 $1,065 $188 $125 $150 $18,593
Jul, 2050 $54 $1,068 $188 $125 $150 $17,524
Aug, 2050 $51 $1,071 $188 $125 $150 $16,453
Sep, 2050 $48 $1,075 $188 $125 $150 $15,378
Oct, 2050 $45 $1,078 $188 $125 $150 $14,300
Nov, 2050 $42 $1,081 $188 $125 $150 $13,219
Dec, 2050 $39 $1,084 $188 $125 $150 $12,135
2050 $669 $12,803 $2,250 $1,500 $1,800 $12,135
Jan, 2051 $35 $1,087 $188 $125 $150 $11,048
Feb, 2051 $32 $1,090 $188 $125 $150 $9,958
Mar, 2051 $29 $1,094 $188 $125 $150 $8,864
Apr, 2051 $26 $1,097 $188 $125 $150 $7,767
May, 2051 $23 $1,100 $188 $125 $150 $6,667
Jun, 2051 $19 $1,103 $188 $125 $150 $5,564
Jul, 2051 $16 $1,106 $188 $125 $150 $4,458
Aug, 2051 $13 $1,110 $188 $125 $150 $3,348
Sep, 2051 $10 $1,113 $188 $125 $150 $2,235
Oct, 2051 $7 $1,116 $188 $125 $150 $1,119
Nov, 2051 $3 $1,119 $188 $125 $150 $0
2051 $213 $12,135 $2,063 $1,375 $1,650 $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.