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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Jul, 2021 Jun, 2051
Loan Closing Loan Payoff

Compare Virginia Mortgage Rates

740-850 FICO UP TO 2.0 POINTS

JUL 28, 2021

 
2.507%
APR
$972
per month
30 Year
Fixed
Rate: 2.375%
Fees: $4,390
Points: 1.756
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: 30 days
View Details
3.155%
APR
$1,053
per month
30 Year
Fixed
Rate: 2.990%
Fees: $5,312
Points: 1.625
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: 30 days
View Details
3.155%
APR
$1,053
per month
30 Year
Fixed
Rate: 2.990%
Fees: $5,312
Points: 1.625
Lock: 30 days
View Details
2.398%
APR
$956
per month
30 Year
Fixed
Rate: 2.250%
Fees: $4,962
Points: 1.985
Lock: 30 days
View Details
2.760%
APR
$1,005
per month
30 Year
Fixed
Rate: 2.625%
Fees: $4,440
Points: 1.776
Lock: 30 days
View Details
2.507%
APR
$972
per month
30 Year
Fixed
Rate: 2.375%
Fees: $4,390
Points: 1.756
Lock: 30 days
View Details
2.649%
APR
$988
per month
30 Year
Fixed
Rate: 2.500%
Fees: $4,932
Points: 1.973
Lock: 45 days
View Details
  Monthly Annual Total of 360 Payments
Principal $393 — $1,119 $2,378 — $12,990 $250,000
Interest $3 — $729 $68 — $8,589 $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
Jul, 2021 $729 $393 $188 $125 $150 $249,607
Aug, 2021 $728 $395 $188 $125 $150 $249,212
Sep, 2021 $727 $396 $188 $125 $150 $248,816
Oct, 2021 $726 $397 $188 $125 $150 $248,419
Nov, 2021 $725 $398 $188 $125 $150 $248,021
Dec, 2021 $723 $399 $188 $125 $150 $247,622
2021 $4,358 $2,378 $1,125 $750 $900 $247,622
Jan, 2022 $722 $400 $188 $125 $150 $247,222
Feb, 2022 $721 $402 $188 $125 $150 $246,820
Mar, 2022 $720 $403 $188 $125 $150 $246,417
Apr, 2022 $719 $404 $188 $125 $150 $246,014
May, 2022 $718 $405 $188 $125 $150 $245,608
Jun, 2022 $716 $406 $188 $125 $150 $245,202
Jul, 2022 $715 $407 $188 $125 $150 $244,795
Aug, 2022 $714 $409 $188 $125 $150 $244,386
Sep, 2022 $713 $410 $188 $125 $150 $243,976
Oct, 2022 $712 $411 $188 $125 $150 $243,565
Nov, 2022 $710 $412 $188 $125 $150 $243,153
Dec, 2022 $709 $413 $188 $125 $150 $242,740
2022 $8,589 $4,882 $2,250 $1,500 $1,800 $242,740
Jan, 2023 $708 $415 $188 $125 $150 $242,325
Feb, 2023 $707 $416 $188 $125 $150 $241,909
Mar, 2023 $706 $417 $188 $125 $150 $241,492
Apr, 2023 $704 $418 $188 $125 $150 $241,074
May, 2023 $703 $419 $188 $125 $150 $240,654
Jun, 2023 $702 $421 $188 $125 $150 $240,234
Jul, 2023 $701 $422 $188 $125 $150 $239,812
Aug, 2023 $699 $423 $188 $125 $150 $239,389
Sep, 2023 $698 $424 $188 $125 $150 $238,964
Oct, 2023 $697 $426 $188 $125 $150 $238,539
Nov, 2023 $696 $427 $188 $125 $150 $238,112
Dec, 2023 $694 $428 $188 $125 $150 $237,684
2023 $8,415 $5,056 $2,250 $1,500 $1,800 $237,684
Jan, 2024 $693 $429 $188 $125 $150 $237,254
Feb, 2024 $692 $431 $188 $125 $150 $236,824
Mar, 2024 $691 $432 $188 $125 $150 $236,392
Apr, 2024 $689 $433 $188 $125 $150 $235,959
May, 2024 $688 $434 $188 $125 $150 $235,524
Jun, 2024 $687 $436 $188 $125 $150 $235,089
Jul, 2024 $686 $437 $188 $125 $150 $234,652
Aug, 2024 $684 $438 $188 $125 $150 $234,213
Sep, 2024 $683 $439 $188 $125 $150 $233,774
Oct, 2024 $682 $441 $188 $125 $150 $233,333
Nov, 2024 $681 $442 $188 $125 $150 $232,891
Dec, 2024 $679 $443 $188 $125 $150 $232,448
2024 $8,235 $5,236 $2,250 $1,500 $1,800 $232,448
Jan, 2025 $678 $445 $188 $125 $150 $232,003
Feb, 2025 $677 $446 $188 $125 $150 $231,557
Mar, 2025 $675 $447 $188 $125 $150 $231,110
Apr, 2025 $674 $449 $188 $125 $150 $230,661
May, 2025 $673 $450 $188 $125 $150 $230,212
Jun, 2025 $671 $451 $188 $125 $150 $229,760
Jul, 2025 $670 $452 $188 $125 $150 $229,308
Aug, 2025 $669 $454 $188 $125 $150 $228,854
Sep, 2025 $667 $455 $188 $125 $150 $228,399
Oct, 2025 $666 $456 $188 $125 $150 $227,943
Nov, 2025 $665 $458 $188 $125 $150 $227,485
Dec, 2025 $663 $459 $188 $125 $150 $227,026
2025 $8,049 $5,422 $2,250 $1,500 $1,800 $227,026
Jan, 2026 $662 $460 $188 $125 $150 $226,565
Feb, 2026 $661 $462 $188 $125 $150 $226,103
Mar, 2026 $659 $463 $188 $125 $150 $225,640
Apr, 2026 $658 $464 $188 $125 $150 $225,176
May, 2026 $657 $466 $188 $125 $150 $224,710
Jun, 2026 $655 $467 $188 $125 $150 $224,243
Jul, 2026 $654 $469 $188 $125 $150 $223,774
Aug, 2026 $653 $470 $188 $125 $150 $223,304
Sep, 2026 $651 $471 $188 $125 $150 $222,833
Oct, 2026 $650 $473 $188 $125 $150 $222,360
Nov, 2026 $649 $474 $188 $125 $150 $221,886
Dec, 2026 $647 $475 $188 $125 $150 $221,411
2026 $7,856 $5,615 $2,250 $1,500 $1,800 $221,411
Jan, 2027 $646 $477 $188 $125 $150 $220,934
Feb, 2027 $644 $478 $188 $125 $150 $220,456
Mar, 2027 $643 $480 $188 $125 $150 $219,976
Apr, 2027 $642 $481 $188 $125 $150 $219,495
May, 2027 $640 $482 $188 $125 $150 $219,013
Jun, 2027 $639 $484 $188 $125 $150 $218,529
Jul, 2027 $637 $485 $188 $125 $150 $218,044
Aug, 2027 $636 $487 $188 $125 $150 $217,557
Sep, 2027 $635 $488 $188 $125 $150 $217,069
Oct, 2027 $633 $489 $188 $125 $150 $216,579
Nov, 2027 $632 $491 $188 $125 $150 $216,088
Dec, 2027 $630 $492 $188 $125 $150 $215,596
2027 $7,657 $5,815 $2,250 $1,500 $1,800 $215,596
Jan, 2028 $629 $494 $188 $125 $150 $215,102
Feb, 2028 $627 $495 $188 $125 $150 $214,607
Mar, 2028 $626 $497 $188 $125 $150 $214,110
Apr, 2028 $624 $498 $188 $125 $150 $213,612
May, 2028 $623 $500 $188 $125 $150 $213,113
Jun, 2028 $622 $501 $188 $125 $150 $212,612
Jul, 2028 $620 $502 $188 $125 $150 $212,109
Aug, 2028 $619 $504 $188 $125 $150 $211,605
Sep, 2028 $617 $505 $188 $125 $150 $211,100
Oct, 2028 $616 $507 $188 $125 $150 $210,593
Nov, 2028 $614 $508 $188 $125 $150 $210,084
Dec, 2028 $613 $510 $188 $125 $150 $209,575
2028 $7,450 $6,021 $2,250 $1,500 $1,800 $209,575
Jan, 2029 $611 $511 $188 $125 $150 $209,063
Feb, 2029 $610 $513 $188 $125 $150 $208,550
Mar, 2029 $608 $514 $188 $125 $150 $208,036
Apr, 2029 $607 $516 $188 $125 $150 $207,520
May, 2029 $605 $517 $188 $125 $150 $207,003
Jun, 2029 $604 $519 $188 $125 $150 $206,484
Jul, 2029 $602 $520 $188 $125 $150 $205,964
Aug, 2029 $601 $522 $188 $125 $150 $205,442
Sep, 2029 $599 $523 $188 $125 $150 $204,918
Oct, 2029 $598 $525 $188 $125 $150 $204,393
Nov, 2029 $596 $526 $188 $125 $150 $203,867
Dec, 2029 $595 $528 $188 $125 $150 $203,339
2029 $7,236 $6,236 $2,250 $1,500 $1,800 $203,339
Jan, 2030 $593 $530 $188 $125 $150 $202,809
Feb, 2030 $592 $531 $188 $125 $150 $202,278
Mar, 2030 $590 $533 $188 $125 $150 $201,746
Apr, 2030 $588 $534 $188 $125 $150 $201,211
May, 2030 $587 $536 $188 $125 $150 $200,676
Jun, 2030 $585 $537 $188 $125 $150 $200,138
Jul, 2030 $584 $539 $188 $125 $150 $199,600
Aug, 2030 $582 $540 $188 $125 $150 $199,059
Sep, 2030 $581 $542 $188 $125 $150 $198,517
Oct, 2030 $579 $544 $188 $125 $150 $197,973
Nov, 2030 $577 $545 $188 $125 $150 $197,428
Dec, 2030 $576 $547 $188 $125 $150 $196,882
2030 $7,014 $6,457 $2,250 $1,500 $1,800 $196,882
Jan, 2031 $574 $548 $188 $125 $150 $196,333
Feb, 2031 $573 $550 $188 $125 $150 $195,783
Mar, 2031 $571 $552 $188 $125 $150 $195,232
Apr, 2031 $569 $553 $188 $125 $150 $194,678
May, 2031 $568 $555 $188 $125 $150 $194,124
Jun, 2031 $566 $556 $188 $125 $150 $193,567
Jul, 2031 $565 $558 $188 $125 $150 $193,009
Aug, 2031 $563 $560 $188 $125 $150 $192,449
Sep, 2031 $561 $561 $188 $125 $150 $191,888
Oct, 2031 $560 $563 $188 $125 $150 $191,325
Nov, 2031 $558 $565 $188 $125 $150 $190,761
Dec, 2031 $556 $566 $188 $125 $150 $190,194
2031 $6,784 $6,687 $2,250 $1,500 $1,800 $190,194
Jan, 2032 $555 $568 $188 $125 $150 $189,627
Feb, 2032 $553 $570 $188 $125 $150 $189,057
Mar, 2032 $551 $571 $188 $125 $150 $188,486
Apr, 2032 $550 $573 $188 $125 $150 $187,913
May, 2032 $548 $575 $188 $125 $150 $187,338
Jun, 2032 $546 $576 $188 $125 $150 $186,762
Jul, 2032 $545 $578 $188 $125 $150 $186,184
Aug, 2032 $543 $580 $188 $125 $150 $185,605
Sep, 2032 $541 $581 $188 $125 $150 $185,023
Oct, 2032 $540 $583 $188 $125 $150 $184,441
Nov, 2032 $538 $585 $188 $125 $150 $183,856
Dec, 2032 $536 $586 $188 $125 $150 $183,270
2032 $6,546 $6,925 $2,250 $1,500 $1,800 $183,270
Jan, 2033 $535 $588 $188 $125 $150 $182,681
Feb, 2033 $533 $590 $188 $125 $150 $182,092
Mar, 2033 $531 $592 $188 $125 $150 $181,500
Apr, 2033 $529 $593 $188 $125 $150 $180,907
May, 2033 $528 $595 $188 $125 $150 $180,312
Jun, 2033 $526 $597 $188 $125 $150 $179,715
Jul, 2033 $524 $598 $188 $125 $150 $179,117
Aug, 2033 $522 $600 $188 $125 $150 $178,517
Sep, 2033 $521 $602 $188 $125 $150 $177,915
Oct, 2033 $519 $604 $188 $125 $150 $177,311
Nov, 2033 $517 $605 $188 $125 $150 $176,706
Dec, 2033 $515 $607 $188 $125 $150 $176,098
2033 $6,300 $7,171 $2,250 $1,500 $1,800 $176,098
Jan, 2034 $514 $609 $188 $125 $150 $175,489
Feb, 2034 $512 $611 $188 $125 $150 $174,879
Mar, 2034 $510 $613 $188 $125 $150 $174,266
Apr, 2034 $508 $614 $188 $125 $150 $173,652
May, 2034 $506 $616 $188 $125 $150 $173,036
Jun, 2034 $505 $618 $188 $125 $150 $172,418
Jul, 2034 $503 $620 $188 $125 $150 $171,798
Aug, 2034 $501 $622 $188 $125 $150 $171,176
Sep, 2034 $499 $623 $188 $125 $150 $170,553
Oct, 2034 $497 $625 $188 $125 $150 $169,928
Nov, 2034 $496 $627 $188 $125 $150 $169,301
Dec, 2034 $494 $629 $188 $125 $150 $168,672
2034 $6,045 $7,426 $2,250 $1,500 $1,800 $168,672
Jan, 2035 $492 $631 $188 $125 $150 $168,041
Feb, 2035 $490 $632 $188 $125 $150 $167,409
Mar, 2035 $488 $634 $188 $125 $150 $166,775
Apr, 2035 $486 $636 $188 $125 $150 $166,138
May, 2035 $485 $638 $188 $125 $150 $165,500
Jun, 2035 $483 $640 $188 $125 $150 $164,860
Jul, 2035 $481 $642 $188 $125 $150 $164,219
Aug, 2035 $479 $644 $188 $125 $150 $163,575
Sep, 2035 $477 $646 $188 $125 $150 $162,929
Oct, 2035 $475 $647 $188 $125 $150 $162,282
Nov, 2035 $473 $649 $188 $125 $150 $161,633
Dec, 2035 $471 $651 $188 $125 $150 $160,982
2035 $5,781 $7,690 $2,250 $1,500 $1,800 $160,982
Jan, 2036 $470 $653 $188 $125 $150 $160,329
Feb, 2036 $468 $655 $188 $125 $150 $159,674
Mar, 2036 $466 $657 $188 $125 $150 $159,017
Apr, 2036 $464 $659 $188 $125 $150 $158,358
May, 2036 $462 $661 $188 $125 $150 $157,697
Jun, 2036 $460 $663 $188 $125 $150 $157,034
Jul, 2036 $458 $665 $188 $125 $150 $156,370
Aug, 2036 $456 $667 $188 $125 $150 $155,703
Sep, 2036 $454 $668 $188 $125 $150 $155,035
Oct, 2036 $452 $670 $188 $125 $150 $154,364
Nov, 2036 $450 $672 $188 $125 $150 $153,692
Dec, 2036 $448 $674 $188 $125 $150 $153,018
2036 $5,507 $7,964 $2,250 $1,500 $1,800 $153,018
Jan, 2037 $446 $676 $188 $125 $150 $152,341
Feb, 2037 $444 $678 $188 $125 $150 $151,663
Mar, 2037 $442 $680 $188 $125 $150 $150,983
Apr, 2037 $440 $682 $188 $125 $150 $150,301
May, 2037 $438 $684 $188 $125 $150 $149,616
Jun, 2037 $436 $686 $188 $125 $150 $148,930
Jul, 2037 $434 $688 $188 $125 $150 $148,242
Aug, 2037 $432 $690 $188 $125 $150 $147,552
Sep, 2037 $430 $692 $188 $125 $150 $146,859
Oct, 2037 $428 $694 $188 $125 $150 $146,165
Nov, 2037 $426 $696 $188 $125 $150 $145,469
Dec, 2037 $424 $698 $188 $125 $150 $144,770
2037 $5,224 $8,247 $2,250 $1,500 $1,800 $144,770
Jan, 2038 $422 $700 $188 $125 $150 $144,070
Feb, 2038 $420 $702 $188 $125 $150 $143,368
Mar, 2038 $418 $704 $188 $125 $150 $142,663
Apr, 2038 $416 $707 $188 $125 $150 $141,957
May, 2038 $414 $709 $188 $125 $150 $141,248
Jun, 2038 $412 $711 $188 $125 $150 $140,538
Jul, 2038 $410 $713 $188 $125 $150 $139,825
Aug, 2038 $408 $715 $188 $125 $150 $139,110
Sep, 2038 $406 $717 $188 $125 $150 $138,393
Oct, 2038 $404 $719 $188 $125 $150 $137,674
Nov, 2038 $402 $721 $188 $125 $150 $136,953
Dec, 2038 $399 $723 $188 $125 $150 $136,230
2038 $4,931 $8,541 $2,250 $1,500 $1,800 $136,230
Jan, 2039 $397 $725 $188 $125 $150 $135,505
Feb, 2039 $395 $727 $188 $125 $150 $134,777
Mar, 2039 $393 $730 $188 $125 $150 $134,048
Apr, 2039 $391 $732 $188 $125 $150 $133,316
May, 2039 $389 $734 $188 $125 $150 $132,582
Jun, 2039 $387 $736 $188 $125 $150 $131,846
Jul, 2039 $385 $738 $188 $125 $150 $131,108
Aug, 2039 $382 $740 $188 $125 $150 $130,368
Sep, 2039 $380 $742 $188 $125 $150 $129,626
Oct, 2039 $378 $745 $188 $125 $150 $128,881
Nov, 2039 $376 $747 $188 $125 $150 $128,135
Dec, 2039 $374 $749 $188 $125 $150 $127,386
2039 $4,627 $8,844 $2,250 $1,500 $1,800 $127,386
Jan, 2040 $372 $751 $188 $125 $150 $126,635
Feb, 2040 $369 $753 $188 $125 $150 $125,881
Mar, 2040 $367 $755 $188 $125 $150 $125,126
Apr, 2040 $365 $758 $188 $125 $150 $124,368
May, 2040 $363 $760 $188 $125 $150 $123,608
Jun, 2040 $361 $762 $188 $125 $150 $122,846
Jul, 2040 $358 $764 $188 $125 $150 $122,082
Aug, 2040 $356 $767 $188 $125 $150 $121,315
Sep, 2040 $354 $769 $188 $125 $150 $120,547
Oct, 2040 $352 $771 $188 $125 $150 $119,776
Nov, 2040 $349 $773 $188 $125 $150 $119,002
Dec, 2040 $347 $776 $188 $125 $150 $118,227
2040 $4,313 $9,159 $2,250 $1,500 $1,800 $118,227
Jan, 2041 $345 $778 $188 $125 $150 $117,449
Feb, 2041 $343 $780 $188 $125 $150 $116,669
Mar, 2041 $340 $782 $188 $125 $150 $115,887
Apr, 2041 $338 $785 $188 $125 $150 $115,102
May, 2041 $336 $787 $188 $125 $150 $114,315
Jun, 2041 $333 $789 $188 $125 $150 $113,526
Jul, 2041 $331 $791 $188 $125 $150 $112,735
Aug, 2041 $329 $794 $188 $125 $150 $111,941
Sep, 2041 $326 $796 $188 $125 $150 $111,145
Oct, 2041 $324 $798 $188 $125 $150 $110,346
Nov, 2041 $322 $801 $188 $125 $150 $109,545
Dec, 2041 $320 $803 $188 $125 $150 $108,742
2041 $3,987 $9,485 $2,250 $1,500 $1,800 $108,742
Jan, 2042 $317 $805 $188 $125 $150 $107,937
Feb, 2042 $315 $808 $188 $125 $150 $107,129
Mar, 2042 $312 $810 $188 $125 $150 $106,319
Apr, 2042 $310 $813 $188 $125 $150 $105,506
May, 2042 $308 $815 $188 $125 $150 $104,691
Jun, 2042 $305 $817 $188 $125 $150 $103,874
Jul, 2042 $303 $820 $188 $125 $150 $103,055
Aug, 2042 $301 $822 $188 $125 $150 $102,233
Sep, 2042 $298 $824 $188 $125 $150 $101,408
Oct, 2042 $296 $827 $188 $125 $150 $100,581
Nov, 2042 $293 $829 $188 $125 $150 $99,752
Dec, 2042 $291 $832 $188 $125 $150 $98,920
2042 $3,649 $9,822 $2,250 $1,500 $1,800 $98,920
Jan, 2043 $289 $834 $188 $125 $150 $98,086
Feb, 2043 $286 $837 $188 $125 $150 $97,250
Mar, 2043 $284 $839 $188 $125 $150 $96,411
Apr, 2043 $281 $841 $188 $125 $150 $95,569
May, 2043 $279 $844 $188 $125 $150 $94,725
Jun, 2043 $276 $846 $188 $125 $150 $93,879
Jul, 2043 $274 $849 $188 $125 $150 $93,030
Aug, 2043 $271 $851 $188 $125 $150 $92,179
Sep, 2043 $269 $854 $188 $125 $150 $91,325
Oct, 2043 $266 $856 $188 $125 $150 $90,469
Nov, 2043 $264 $859 $188 $125 $150 $89,610
Dec, 2043 $261 $861 $188 $125 $150 $88,749
2043 $3,300 $10,171 $2,250 $1,500 $1,800 $88,749
Jan, 2044 $259 $864 $188 $125 $150 $87,885
Feb, 2044 $256 $866 $188 $125 $150 $87,019
Mar, 2044 $254 $869 $188 $125 $150 $86,150
Apr, 2044 $251 $871 $188 $125 $150 $85,279
May, 2044 $249 $874 $188 $125 $150 $84,405
Jun, 2044 $246 $876 $188 $125 $150 $83,529
Jul, 2044 $244 $879 $188 $125 $150 $82,650
Aug, 2044 $241 $882 $188 $125 $150 $81,768
Sep, 2044 $238 $884 $188 $125 $150 $80,884
Oct, 2044 $236 $887 $188 $125 $150 $79,997
Nov, 2044 $233 $889 $188 $125 $150 $79,108
Dec, 2044 $231 $892 $188 $125 $150 $78,216
2044 $2,938 $10,533 $2,250 $1,500 $1,800 $78,216
Jan, 2045 $228 $894 $188 $125 $150 $77,322
Feb, 2045 $226 $897 $188 $125 $150 $76,424
Mar, 2045 $223 $900 $188 $125 $150 $75,525
Apr, 2045 $220 $902 $188 $125 $150 $74,622
May, 2045 $218 $905 $188 $125 $150 $73,717
Jun, 2045 $215 $908 $188 $125 $150 $72,810
Jul, 2045 $212 $910 $188 $125 $150 $71,900
Aug, 2045 $210 $913 $188 $125 $150 $70,987
Sep, 2045 $207 $916 $188 $125 $150 $70,071
Oct, 2045 $204 $918 $188 $125 $150 $69,153
Nov, 2045 $202 $921 $188 $125 $150 $68,232
Dec, 2045 $199 $924 $188 $125 $150 $67,308
2045 $2,564 $10,908 $2,250 $1,500 $1,800 $67,308
Jan, 2046 $196 $926 $188 $125 $150 $66,382
Feb, 2046 $194 $929 $188 $125 $150 $65,453
Mar, 2046 $191 $932 $188 $125 $150 $64,521
Apr, 2046 $188 $934 $188 $125 $150 $63,587
May, 2046 $185 $937 $188 $125 $150 $62,650
Jun, 2046 $183 $940 $188 $125 $150 $61,710
Jul, 2046 $180 $943 $188 $125 $150 $60,767
Aug, 2046 $177 $945 $188 $125 $150 $59,822
Sep, 2046 $174 $948 $188 $125 $150 $58,874
Oct, 2046 $172 $951 $188 $125 $150 $57,923
Nov, 2046 $169 $954 $188 $125 $150 $56,969
Dec, 2046 $166 $956 $188 $125 $150 $56,013
2046 $2,176 $11,296 $2,250 $1,500 $1,800 $56,013
Jan, 2047 $163 $959 $188 $125 $150 $55,054
Feb, 2047 $161 $962 $188 $125 $150 $54,092
Mar, 2047 $158 $965 $188 $125 $150 $53,127
Apr, 2047 $155 $968 $188 $125 $150 $52,159
May, 2047 $152 $970 $188 $125 $150 $51,189
Jun, 2047 $149 $973 $188 $125 $150 $50,215
Jul, 2047 $146 $976 $188 $125 $150 $49,239
Aug, 2047 $144 $979 $188 $125 $150 $48,260
Sep, 2047 $141 $982 $188 $125 $150 $47,278
Oct, 2047 $138 $985 $188 $125 $150 $46,294
Nov, 2047 $135 $988 $188 $125 $150 $45,306
Dec, 2047 $132 $990 $188 $125 $150 $44,315
2047 $1,774 $11,697 $2,250 $1,500 $1,800 $44,315
Jan, 2048 $129 $993 $188 $125 $150 $43,322
Feb, 2048 $126 $996 $188 $125 $150 $42,326
Mar, 2048 $123 $999 $188 $125 $150 $41,327
Apr, 2048 $121 $1,002 $188 $125 $150 $40,325
May, 2048 $118 $1,005 $188 $125 $150 $39,320
Jun, 2048 $115 $1,008 $188 $125 $150 $38,312
Jul, 2048 $112 $1,011 $188 $125 $150 $37,301
Aug, 2048 $109 $1,014 $188 $125 $150 $36,287
Sep, 2048 $106 $1,017 $188 $125 $150 $35,270
Oct, 2048 $103 $1,020 $188 $125 $150 $34,250
Nov, 2048 $100 $1,023 $188 $125 $150 $33,228
Dec, 2048 $97 $1,026 $188 $125 $150 $32,202
2048 $1,358 $12,113 $2,250 $1,500 $1,800 $32,202
Jan, 2049 $94 $1,029 $188 $125 $150 $31,173
Feb, 2049 $91 $1,032 $188 $125 $150 $30,142
Mar, 2049 $88 $1,035 $188 $125 $150 $29,107
Apr, 2049 $85 $1,038 $188 $125 $150 $28,069
May, 2049 $82 $1,041 $188 $125 $150 $27,029
Jun, 2049 $79 $1,044 $188 $125 $150 $25,985
Jul, 2049 $76 $1,047 $188 $125 $150 $24,938
Aug, 2049 $73 $1,050 $188 $125 $150 $23,888
Sep, 2049 $70 $1,053 $188 $125 $150 $22,835
Oct, 2049 $67 $1,056 $188 $125 $150 $21,779
Nov, 2049 $64 $1,059 $188 $125 $150 $20,720
Dec, 2049 $60 $1,062 $188 $125 $150 $19,658
2049 $927 $12,544 $2,250 $1,500 $1,800 $19,658
Jan, 2050 $57 $1,065 $188 $125 $150 $18,593
Feb, 2050 $54 $1,068 $188 $125 $150 $17,524
Mar, 2050 $51 $1,071 $188 $125 $150 $16,453
Apr, 2050 $48 $1,075 $188 $125 $150 $15,378
May, 2050 $45 $1,078 $188 $125 $150 $14,300
Jun, 2050 $42 $1,081 $188 $125 $150 $13,219
Jul, 2050 $39 $1,084 $188 $125 $150 $12,135
Aug, 2050 $35 $1,087 $188 $125 $150 $11,048
Sep, 2050 $32 $1,090 $188 $125 $150 $9,958
Oct, 2050 $29 $1,094 $188 $125 $150 $8,864
Nov, 2050 $26 $1,097 $188 $125 $150 $7,767
Dec, 2050 $23 $1,100 $188 $125 $150 $6,667
2050 $481 $12,990 $2,250 $1,500 $1,800 $6,667
Jan, 2051 $19 $1,103 $188 $125 $150 $5,564
Feb, 2051 $16 $1,106 $188 $125 $150 $4,458
Mar, 2051 $13 $1,110 $188 $125 $150 $3,348
Apr, 2051 $10 $1,113 $188 $125 $150 $2,235
May, 2051 $7 $1,116 $188 $125 $150 $1,119
Jun, 2051 $3 $1,119 $188 $125 $150 $0
2051 $68 $6,667 $1,125 $750 $900 $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.