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Mortgage Calculator

Start by filling in some basic information about your home purchase and a standard mortgage for your purchase. If you do not have certain information, it is okay to use estimates. You will still be able to see how you can save on your mortgage on the
Ways to Save
⁠
page.

Provide some basic information…

Basics. Start by putting in your purchase price and your planned down payment. You can change these any time.
1
Down Payment
Purchase Price
Down Pmt %
$55,000
$500,000
11.00%
There are no rows in this table
⁠

Loan information. Now enter the basic information about the mortgage you are thinking about. If you don’t have an actual loan quote, you could go to the property you are buying on
Zillow
⁠
and look at the “Monthly cost” section to get estimated numbers.
First, select the loan term you are considering. Thirty years is the most common.
1
Term in Years
20
No results from filter
⁠

Next are the loan costs. Private Mortgage Insurance (PMI) is typically only required if you put less than 20% down. It that is the case, we will automatically calculate your PMI for you. If you know that your annual PMI percentage is different than we show, you can change it.
1
Interest Rate
Origination Points
PMI %
4.50%
10.00
1.2%
There are no rows in this table
⁠

Monthly costs. If you want us to show your monthly costs in addition to your mortgage payment, you can provide the information below, or use our estimates. “Insurance” is homeowners’ insurance, which your lender will likely require. The property tax rate is an annual rate based on the purchase price or value of your home. HOA dues only apply if you will have a neighborhood homeowners’ association (HOA).
1
Annual Insurance Cost
Property Tax Rate
Annual HOA Dues
$1,000.00
0.90%
$0.00
There are no rows in this table
⁠

See your monthly payment and loan costs…

Monthly payments. Your total monthly costs are
$4,044.65
⁠
broken down as follows:
Mortgage payment:
$3,096.82
⁠
Other monthly costs:
$947.83
⁠
(details below)
1
Insurance
HOA
PMI
Property Taxes
$83.33
$0.00
$489.50
$375.00
No results from filter
⁠

Loan costs and payoff. Based on all of your inputs, this is your mortgage cost information:
Total interest is the sum of all of the interest payments you will make over the life of the loan. Total loan costs also includes origination fees and PMI.
Total interest you will pay:
$253,736.32
⁠
⁠
Total loan costs:
$329,564.32
⁠
⁠

This is how long it will take to pay off your loan if you do not refinance or sell your home:
Time to pay off your loan:
⁠
⁠

Now the fun part…

Go to
Ways to Save
⁠
to find out how you might be able to save money and pay off your mortage sooner!



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