MORTGAGE CALCULATOR
Mortgage Basics
Down Payment
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. Some loan programs allow significantly less than 20%.
Loan Term
Your loan term affects both your monthly payment and the total interest paid over time. Common options include 15- and 30-year mortgages.
Loan Type
Fixed-rate loans maintain the same interest rate, while adjustable-rate mortgages may change over time. The right option depends on your financial goals and timeline.
Interest Rate
Your rate can vary based on factors such as credit, down payment, loan program, and current market conditions.
Property Tax Rate + Home Insurance
Taxes and homeowners insurance are often included in your total monthly housing payment and can vary significantly by property. You can edit these in the advanced options.
HOA Fees
A homeowners association fee (HOA fee) is an amount of money that must be paid monthly by owners of certain types of residential properties, and HOAs collect these fees to assist with maintaining and improving properties in the association.
RECOMMENDED LENDERS
Not sure where to start? These are a few trusted lenders.
