Mortgage Calculator

Use our home loan calculator to estimate your total mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment, and details about the home loan, to calculate your mortgage payment, schedule, and more.

Payment

Schedule

Your mortgage payments over 30 years will add up to $0.

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Mortgage Help

Down Payment

As a general rule most mortgage lenders require as little as 5 percent down. Your down payment reduces the total amount of your mortgage loan, so the more money you put down, the lower your payments will be - or the more expensive a house you can buy. Downpayments of 20% or more also are not required to be insured which can save you thousands of dollars.

Loan Term

Your loan term can affect your interest rate and monthly payments.

Loan Type

There are several types of mortgage loans, but the most commonly used are fixed-rate and variable loans. Fixed-rate loans have the same interest rate for the entire duration of the mortgage term. That means your monthly payment will be the same for the entire mortgage term. Two benefits to this loan type are stability, and being able to calculate your total interest up front. Variable rate mortgages have interest rates that can change over time. Typically these rates increase or decrease due to market and economic conditions and move along side prime lending rates.

Interest Rate

This field is pre-filled with the current average mortgage rate. Your actual rate will vary based on factors like credit score, housing type, type of purchase (ex. rental property) and down payment.

Property Tax Rate

The mortgage payment calculator includes estimated property taxes based on the home's value. You can edit this in the advanced options.

Home Insurance

Home insurance or homeowners insurance is typically required by lenders, depending on the loan program. You can edit this number in the mortgage calculator advanced options.

HOA/Condo Fees

A homeowners association fee (HOA fee) is an amount of money that must be paid by owners of certain types of residential properties, and HOAs collect these fees to assist with maintaining and improving properties in the association. HOA fee's are somtimes collected monthly but also could be annually. Condo fee's or Strata fee's are similar to HOA fee's and are usually found in apartments, townhomes or wherever their is common property, utilities etc that are connected or shared by the entire complex. Condo fee's can include a vartiety of things including utilities so its best to have any condo purchase professionally reviewed by a professional condo document review company.