MORTGAGE CALCULATOR

Try our smart mortgage calculator to manage and calculate your budget properly for your next real estate transaction. If you have questions on how mortgage payments work, please do not hesitate to contact one of our Real estate funding solutions’ team members.

Your Budget Is Important To Us!

Mortgage Loan Calculator

Price of Real Estate?:

Down Payment Percent?:

Amount of Loan?:

Enter a "0" (zero) for one unknown value above.

Number of Payments? (#):

Annual Interest Rate?:

Points?:

Annual Property Taxes?:

Annual Insurance?:

Private Mortgage Ins. (PMI)?:

Payment Method?:

Monthly Payment Amount:

Down Payment Amount:

Total Interest:

Total Principal & Interest:

Original Size

Mortgage Calculator Help

You can calculate the mortgage loan amount from the price of the real estate by providing the down payment percentage.

If you know the mortgage amount you can afford and the cash down payment percentage required, you can calculate the affordable real estate price.

Or if you know the price of the real estate and the loan amout and enter "0" for the down payment percentage, the calculator will calculate the down payment amount and percentage.

Points, Annual Property Taxes, Annual Insurance and Private Mortgage Ins. (PMI) are all optional. If you enter values, the periodic portion of each will be calculated and shown on the schedule. Property taxes and insurance are combined under escrow.

If a borrower does not have cash to cover at least 20% of the purchase price, some lenders will require the borrower to purchase private mortgage insurance (PMI) to cover against a possible default. Premiums are typically 0.5% to 2.0% of the original loan amount. The borrower can drop the insurance coverage once the mortgage balance is less than 80% of the original purchase price. The calculator handles this automatically. (There may be other conditions as well under which the lender will no longer require PMI. One such case might be apprciation of the real estate.)

Points are charges that are normally due at closing. Borrowers (normally only in USA) may select to pay a lender "points" up front in exchange for a lower interest rate. Points are expressed in percent and are calculated on the amount borrowed. 3 points on a $200,000 mortgage equals $6,000. If the user enters points, this calculator includes their value in the summary and as part of the total payment at loan origination on the payment schedule.

The term (duration) of the loan is expressed as a number of months.

60 months = 5 years
120 months = 10 years
180 months = 15 years
240 months = 20 years
360 months = 30 years

Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://AccurateCalculators.com/mortgage-calculator

How do I calculate my mortgage payment?

For the “Total Amount” box, enter your total loan amount (for purchases and refinances)
Under the “Down payment” section, enter your down payment amount (for purchases and refinances)
For the “Interest rate” box, enter your Annual Percent Rate (APR)
Under the “Loan Term” section, enter the number of years for your mortgage
Once you complete all the sections, click the “Calculate mortgage” button

How does a mortgage calculator help me?

When it’s time to purchase your home, it’s crucial to understand how much you can afford. Our smart mortgage calculator helps you determine your monthly mortgage payment. You can run scenarios best suited to your financial situation to plan out your monthly payment that you can afford. It can also help you decide:

Does the purchase price fit within your current budget?
Are you putting enough money as a down payment?
How long of a mortgage is good for you?

How can I get a reduced monthly payment?

Here are a few suggestions on how you can reduce your monthly mortgage payment:

Increase the loan term
Buy a less expensive home
Try to put down a larger down payment

MORTGAGE CALCULATOR

Your Budget Is Important To Us!

Mortgage Calculator Help

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