Mortgage Calculator

This is a basic calculator – but it’s easy to use and pretty good at ball-parking your monthly mortgage payment. 

A typical mortgage payment (PITI) is made up of four things:

  • Principal – initial loan balance amortized over the length of the loan
  • Interest – annual APR – typically a fixed rate, e.g. 4.5%
  • Taxes – yearly taxes, divided by 12
  • Insurance – property insurance annual premium, divided by 12

Example:

  • Home Price: $200,000
  • Interest Rate:  5%, 30 Year Fixed Rate loan
  • PRINCIPLE & INTEREST: $1,073.64
  • PROPERTY TAXES: $2,500/year ÷ 12 = $208.33/month
  • HOME INSURANCE: $600/year ÷ = $50.00/month
  • Add together: 1073.64 + 208.33 + $50.00 = $1,331.97 TOTAL MONTHLY PAYMENT
Loan Calculator Mortgage Calculator
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