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Mortgage Loan Calculator

The Mortgage Loan Calculator is a quick and easy way to estimate a monthly payments for your next mortgage loan. An affordable home mortgage should fit comfortably within your budget.
Mortgage Term:
or
180 Monthly Payments
$1,186.19
Interest: $63,514.28
Principal: $150,000.00

Additional Mortgage Expenses

  • Property Taxes: Your monthly payment will include property taxes so you will not need to save for those separately. Your lender will pay the taxes by their due date from the escrow account.
  • Home Owner's Insurance: When financing a home a lender will require this type of insurance. Insurance costs vary across regions, so check with your insurance agent prior making an offer on a home.
  • Mortgage Insurance: If you put down less than 20 percent on your home purchase, you will likely have to purchase mortgage insurance. The cost varies by market and depends on the value of your home. Expect at least a couple hundred extra per month if you use a low down payment.
  • Flood Insurance: If the home is in a designated flood plain your lender will require flood insurance to cover losses in the event of a flood.

Mortgage Loan Calculator

Financing Considerations

Other Home Expenses
Your mortgage payment is only the beginning of monthly expenses related to your new home. Through the years, other costs will contribute to the affordability your new home.

Additional Resources

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