The portion of your payment that repays the amount borrowed and the interest charged on your mortgage.
MORTGAGE CALCULATOR
Mortgage Payment Calculator
Estimate your monthly mortgage payment, including principal, interest, taxes, and insurance. Adjust the price, down payment, rate, and term to see how each changes your payment, then talk with us about the programs that fit your budget.
Independent Brokerage, Many Lenders
Licensed in 7 States
NMLS #2367229
Decades of Combined Experience
Estimate Your Monthly Mortgage Payment
Use this calculator to estimate your monthly mortgage payment, including taxes and insurance. Simply move the sliders for the price of the home, your down payment, and details about the home loan to calculate your payment breakdown, schedule and more.
Mortgage Details
$450,000
$50K$2M
20%
0%50%
6.500%
2.000%12.000%
Loan Term
Taxes, Insurance & MI
1.10%
0%3% of home price
$1,500
$0$8,000
0.50%
0%1.50% of loan / year
$0
$0$2,000
Your Estimated Payment
Total Monthly Payment
$0/mo
- Principal & Interest $0
- Property Taxes $0
- Home Insurance $0
- Mortgage Insurance $0
- Extra Principal $0
Loan Amount$0
Total Interest Paid$0
Payoff Time0 yrs
Interest Saved$0
Get My Real Numbers
Questions? Call (503) 210-1480
Payment Schedule
| Year | Principal | Interest | Extra | Taxes, Ins & MI | Total Paid | Balance |
|---|
Mortgage Marketplace LLC | NMLS #2367229. The information provided by this calculator is for illustrative purposes only. The default figures shown are hypothetical and may not apply to your individual situation. Payment estimates do not constitute a commitment to lend. Actual rates, payments, taxes, insurance, and mortgage insurance depend on your full scenario, including credit, income, property, and program guidelines, and are subject to change. Mortgage insurance is applied as entered and is assumed to continue for the full loan term; actual mortgage insurance amounts and termination rules vary by loan program. Consult a licensed loan officer before relying on these results. Equal Housing Opportunity.
UNDERSTANDING YOUR PAYMENT
What Makes Up Your Mortgage Payment?
Your monthly mortgage payment can include more than principal and interest. Depending on your loan and property, taxes, homeowners insurance, and mortgage insurance may also be part of the total.
Principal & Interest
Property Taxes
Property taxes are typically based on the assessed value of the home and local tax rates. They can change over time.
Homeowners Insurance
Homeowners insurance helps protect the property and is commonly required by mortgage lenders.
Mortgage Insurance
Mortgage insurance may apply depending on your loan program, down payment, and other qualification factors.
WHAT CHANGES YOUR PAYMENT
What Can Affect Your Mortgage Payment?
Several factors can change your estimated monthly mortgage payment. Adjust the home price, down payment, interest rate, and loan term in the calculator to see how each one affects your estimate.
Home Price
A higher home price generally increases the amount you need to finance, which can increase your monthly payment.
Down Payment
A larger down payment can reduce the amount you need to borrow and may affect whether mortgage insurance applies.
Interest Rate
Your interest rate affects the principal-and-interest portion of your mortgage payment. Changes in the rate can change your monthly estimate.
Loan Term
Your loan term determines how long the balance is scheduled to be repaid. Shorter and longer terms can produce different monthly payment structures.
MORTGAGE CALCULATOR FAQ
Common Questions About Mortgage Payment Estimates
Is the mortgage calculator a loan approval or rate quote?
No. The calculator is an educational planning tool and its results are estimates only. It does not represent a loan approval, commitment to lend, or a guaranteed interest rate or payment.
Why might my actual mortgage payment be different from the calculator estimate?
The calculator provides an estimate based on the information entered. Your actual payment can differ based on your final interest rate, loan program, property taxes, homeowners insurance, mortgage insurance, loan amount, and other details of your financing.
Does using the mortgage calculator affect my credit?
No. Using the calculator itself does not require a credit check and does not affect your credit score. A credit review may be required later if you choose to apply for mortgage financing.
Ready to Review Your Real Loan Options?
Your calculator estimate is a helpful starting point. When you’re ready, we can review your actual financing options based on your goals, property, and financial situation.