1-STOP Mortgage Calculator
To enhance your experience when using our mortgage calculators, we use your browser to remember your settings and payment inputs. If you navigate around or come back later, we'll populate our calculators with your most recent payment request.
As you might expect, Purchase Price is the price you're paying for your home. All payment calculations begin here. Type, paste in a value, or use the slider to initiate your payment calculation.
Your Down Payment is the amount of money out of pocket you are paying for your home. Typical down payments are 5%, 10%, or 20% of the home's purchase price. Type or paste a value to declare your down payment or simply select a preset percentage. The loan amount we use to calculate your monthly payment results from subtracting your down payment from the inputted purchase price.
Your Interest Rate is determined by your mortgage lender. The lower the better. Mortgage rates are typically offered in 1/8th percentage (0.125%) increments.
Use the + or - buttons to adjust your rate up or down 0.125%. Some lenders may occasionally offer a rate designed to entice, such as x.99%. In this case, you can manually enter an interest rate.
The Loan Term is the number of months it will take to repay your loan in full. A typical mortgage term is 30 years, so we default to this. 15 years is next common. Use the preset loan term buttons to easily compare the impact the term will have on your payment. If you need to, you can use the dropdown to select any term up to 360 months (30 years). This might be handy if you are refinancing and do not want to extend your term back out to 30 years or you want to have your loan paid off by a certain date, like before you retire.
Property Taxes vary greatly depending on your location. Somewhere in the range of 1% to 3% of the purchase price annually is normal. When you make property tax changes, we will remember your tax rate as a percentage of your purchase price. That way when you increase or decrease your purchase price the property taxes will adjust accordingly.
Your Homeowner's Insurance rate is also dependent upon your location. 0.3% to 1% of your home's price is normal. Like property taxes, we'll remember your insurance rate and adjust the annual premium as you make purchase price changes.