Understanding the amount you can comfortably borrow for a real estate purchase is a crucial aspect of the mortgage process. It ensures that your loan is in harmony with your income and savings throughout its duration. The loan calculator featured on our page stands out for its accuracy and comprehensive approach. It offers a detailed overview of loan payments, including taxes and additional fees, over the entire loan term. While this tool is invaluable for initial planning, it’s important to remember that it cannot substitute the personalized guidance offered by our experienced loan officers. We encourage you to reach out to us to discuss your specific goals and secure a mortgage pre-approval tailored to your needs.
Mortgage Loan Calculator
Principal & Interest (P&I)
$
PMI
$
Taxes & HOA
$
Homeowners Insurance
$
Purchase Price
$
Down Payment
$
Total Loan Amount
$
PMI
The PMI (Private Mortgage Insurance) is a mortgage lenders' protection in the event of a default. PMI is paid monthly as part of your mortgage payment to the lender. Once a borrower has paid the equivalent of the 20% down payment, PMI can be removed from the monthly mortgage payment.
Estimated Payment
$ /mo
Loan amount
$
Down payment
$
Interest rate
Loan term
Taxes & insurance included?
Property tax
Homeowner's insurance
$
Mortgage insurance
$
HOA dues
$
Payment Breakdown
Amortization
Principal vs. Interest
Amortization Schedule Breakdown
Our detailed amortization schedule breaks down your mortgage payments, showing how they are split between interest and principal over the life of your loan.
Note: The actual monthly payment may be higher than what is shown here, as this schedule does not account for variable costs such as property taxes and home insurance, which are often included in your total mortgage payment.
- Principal payments: $$240,000 (the amount borrowed)
- Interest payments: $$297,554 (the cost of borrowing)
