Mortgage Calculator
Calculate your monthly mortgage payment including taxes and insurance.
Mortgage Details
Max 50 yrs
Estimated Monthly Payment
$1,867
Principal & Interest$1,517
Property Tax$250
Home Insurance$100
Total Loan Cost$672,107
Mortgage Balance Over Time
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Amortization Schedule
| Mo | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $1516.96 | $217 | $1300 | $239,783 |
| 2 | $1516.96 | $218 | $1299 | $239,565 |
| 3 | $1516.96 | $219 | $1298 | $239,346 |
| 4 | $1516.96 | $221 | $1296 | $239,125 |
| 5 | $1516.96 | $222 | $1295 | $238,903 |
| 6 | $1516.96 | $223 | $1294 | $238,680 |
| 7 | $1516.96 | $224 | $1293 | $238,456 |
| 8 | $1516.96 | $225 | $1292 | $238,231 |
| 9 | $1516.96 | $227 | $1290 | $238,004 |
| 10 | $1516.96 | $228 | $1289 | $237,777 |
| 11 | $1516.96 | $229 | $1288 | $237,548 |
| 12 | $1516.96 | $230 | $1287 | $237,317 |
| 13 | $1516.96 | $231 | $1285 | $237,086 |
| 14 | $1516.96 | $233 | $1284 | $236,853 |
| 15 | $1516.96 | $234 | $1283 | $236,619 |
| 16 | $1516.96 | $235 | $1282 | $236,384 |
| 17 | $1516.96 | $237 | $1280 | $236,147 |
| 18 | $1516.96 | $238 | $1279 | $235,910 |
| 19 | $1516.96 | $239 | $1278 | $235,670 |
| 20 | $1516.96 | $240 | $1277 | $235,430 |
| 21 | $1516.96 | $242 | $1275 | $235,188 |
| 22 | $1516.96 | $243 | $1274 | $234,945 |
| 23 | $1516.96 | $244 | $1273 | $234,701 |
| 24 | $1516.96 | $246 | $1271 | $234,455 |
| 25 | $1516.96 | $247 | $1270 | $234,208 |
| 26 | $1516.96 | $248 | $1269 | $233,960 |
| 27 | $1516.96 | $250 | $1267 | $233,710 |
| 28 | $1516.96 | $251 | $1266 | $233,459 |
| 29 | $1516.96 | $252 | $1265 | $233,207 |
| 30 | $1516.96 | $254 | $1263 | $232,953 |
| 31 | $1516.96 | $255 | $1262 | $232,698 |
| 32 | $1516.96 | $257 | $1260 | $232,441 |
| 33 | $1516.96 | $258 | $1259 | $232,184 |
| 34 | $1516.96 | $259 | $1258 | $231,924 |
| 35 | $1516.96 | $261 | $1256 | $231,663 |
| 36 | $1516.96 | $262 | $1255 | $231,401 |
| 37 | $1516.96 | $264 | $1253 | $231,138 |
| 38 | $1516.96 | $265 | $1252 | $230,873 |
| 39 | $1516.96 | $266 | $1251 | $230,606 |
| 40 | $1516.96 | $268 | $1249 | $230,339 |
| 41 | $1516.96 | $269 | $1248 | $230,069 |
| 42 | $1516.96 | $271 | $1246 | $229,799 |
| 43 | $1516.96 | $272 | $1245 | $229,526 |
| 44 | $1516.96 | $274 | $1243 | $229,253 |
| 45 | $1516.96 | $275 | $1242 | $228,977 |
| 46 | $1516.96 | $277 | $1240 | $228,701 |
| 47 | $1516.96 | $278 | $1239 | $228,423 |
| 48 | $1516.96 | $280 | $1237 | $228,143 |
| 49 | $1516.96 | $281 | $1236 | $227,862 |
| 50 | $1516.96 | $283 | $1234 | $227,579 |
| 51 | $1516.96 | $284 | $1233 | $227,295 |
| 52 | $1516.96 | $286 | $1231 | $227,009 |
| 53 | $1516.96 | $287 | $1230 | $226,722 |
| 54 | $1516.96 | $289 | $1228 | $226,433 |
| 55 | $1516.96 | $290 | $1227 | $226,142 |
| 56 | $1516.96 | $292 | $1225 | $225,850 |
| 57 | $1516.96 | $294 | $1223 | $225,557 |
| 58 | $1516.96 | $295 | $1222 | $225,262 |
| 59 | $1516.96 | $297 | $1220 | $224,965 |
| 60 | $1516.96 | $298 | $1219 | $224,666 |
| 61 | $1516.96 | $300 | $1217 | $224,366 |
| 62 | $1516.96 | $302 | $1215 | $224,065 |
| 63 | $1516.96 | $303 | $1214 | $223,761 |
| 64 | $1516.96 | $305 | $1212 | $223,456 |
| 65 | $1516.96 | $307 | $1210 | $223,150 |
| 66 | $1516.96 | $308 | $1209 | $222,842 |
| 67 | $1516.96 | $310 | $1207 | $222,532 |
| 68 | $1516.96 | $312 | $1205 | $222,220 |
| 69 | $1516.96 | $313 | $1204 | $221,907 |
| 70 | $1516.96 | $315 | $1202 | $221,592 |
| 71 | $1516.96 | $317 | $1200 | $221,275 |
| 72 | $1516.96 | $318 | $1199 | $220,957 |
| 73 | $1516.96 | $320 | $1197 | $220,637 |
| 74 | $1516.96 | $322 | $1195 | $220,315 |
| 75 | $1516.96 | $324 | $1193 | $219,991 |
| 76 | $1516.96 | $325 | $1192 | $219,666 |
| 77 | $1516.96 | $327 | $1190 | $219,339 |
| 78 | $1516.96 | $329 | $1188 | $219,010 |
| 79 | $1516.96 | $331 | $1186 | $218,679 |
| 80 | $1516.96 | $332 | $1185 | $218,347 |
| 81 | $1516.96 | $334 | $1183 | $218,013 |
| 82 | $1516.96 | $336 | $1181 | $217,677 |
| 83 | $1516.96 | $338 | $1179 | $217,339 |
| 84 | $1516.96 | $340 | $1177 | $216,999 |
| 85 | $1516.96 | $342 | $1175 | $216,657 |
| 86 | $1516.96 | $343 | $1174 | $216,314 |
| 87 | $1516.96 | $345 | $1172 | $215,969 |
| 88 | $1516.96 | $347 | $1170 | $215,622 |
| 89 | $1516.96 | $349 | $1168 | $215,273 |
| 90 | $1516.96 | $351 | $1166 | $214,922 |
| 91 | $1516.96 | $353 | $1164 | $214,569 |
| 92 | $1516.96 | $355 | $1162 | $214,214 |
| 93 | $1516.96 | $357 | $1160 | $213,858 |
| 94 | $1516.96 | $359 | $1158 | $213,499 |
| 95 | $1516.96 | $361 | $1156 | $213,138 |
| 96 | $1516.96 | $362 | $1155 | $212,776 |
| 97 | $1516.96 | $364 | $1153 | $212,412 |
| 98 | $1516.96 | $366 | $1151 | $212,045 |
| 99 | $1516.96 | $368 | $1149 | $211,677 |
| 100 | $1516.96 | $370 | $1147 | $211,306 |
| 101 | $1516.96 | $372 | $1145 | $210,934 |
| 102 | $1516.96 | $374 | $1143 | $210,560 |
| 103 | $1516.96 | $376 | $1141 | $210,183 |
| 104 | $1516.96 | $378 | $1138 | $209,805 |
| 105 | $1516.96 | $381 | $1136 | $209,424 |
| 106 | $1516.96 | $383 | $1134 | $209,042 |
| 107 | $1516.96 | $385 | $1132 | $208,657 |
| 108 | $1516.96 | $387 | $1130 | $208,270 |
| 109 | $1516.96 | $389 | $1128 | $207,881 |
| 110 | $1516.96 | $391 | $1126 | $207,490 |
| 111 | $1516.96 | $393 | $1124 | $207,097 |
| 112 | $1516.96 | $395 | $1122 | $206,702 |
| 113 | $1516.96 | $397 | $1120 | $206,305 |
| 114 | $1516.96 | $399 | $1117 | $205,905 |
| 115 | $1516.96 | $402 | $1115 | $205,504 |
| 116 | $1516.96 | $404 | $1113 | $205,100 |
| 117 | $1516.96 | $406 | $1111 | $204,694 |
| 118 | $1516.96 | $408 | $1109 | $204,286 |
| 119 | $1516.96 | $410 | $1107 | $203,875 |
| 120 | $1516.96 | $413 | $1104 | $203,463 |
| 121 | $1516.96 | $415 | $1102 | $203,048 |
| 122 | $1516.96 | $417 | $1100 | $202,631 |
| 123 | $1516.96 | $419 | $1098 | $202,211 |
| 124 | $1516.96 | $422 | $1095 | $201,790 |
| 125 | $1516.96 | $424 | $1093 | $201,366 |
| 126 | $1516.96 | $426 | $1091 | $200,940 |
| 127 | $1516.96 | $429 | $1088 | $200,511 |
| 128 | $1516.96 | $431 | $1086 | $200,080 |
| 129 | $1516.96 | $433 | $1084 | $199,647 |
| 130 | $1516.96 | $436 | $1081 | $199,211 |
| 131 | $1516.96 | $438 | $1079 | $198,773 |
| 132 | $1516.96 | $440 | $1077 | $198,333 |
| 133 | $1516.96 | $443 | $1074 | $197,891 |
| 134 | $1516.96 | $445 | $1072 | $197,445 |
| 135 | $1516.96 | $447 | $1069 | $196,998 |
| 136 | $1516.96 | $450 | $1067 | $196,548 |
| 137 | $1516.96 | $452 | $1065 | $196,096 |
| 138 | $1516.96 | $455 | $1062 | $195,641 |
| 139 | $1516.96 | $457 | $1060 | $195,184 |
| 140 | $1516.96 | $460 | $1057 | $194,724 |
| 141 | $1516.96 | $462 | $1055 | $194,262 |
| 142 | $1516.96 | $465 | $1052 | $193,797 |
| 143 | $1516.96 | $467 | $1050 | $193,330 |
| 144 | $1516.96 | $470 | $1047 | $192,860 |
| 145 | $1516.96 | $472 | $1045 | $192,388 |
| 146 | $1516.96 | $475 | $1042 | $191,913 |
| 147 | $1516.96 | $477 | $1040 | $191,436 |
| 148 | $1516.96 | $480 | $1037 | $190,956 |
| 149 | $1516.96 | $483 | $1034 | $190,473 |
| 150 | $1516.96 | $485 | $1032 | $189,988 |
| 151 | $1516.96 | $488 | $1029 | $189,500 |
| 152 | $1516.96 | $491 | $1026 | $189,009 |
| 153 | $1516.96 | $493 | $1024 | $188,516 |
| 154 | $1516.96 | $496 | $1021 | $188,020 |
| 155 | $1516.96 | $499 | $1018 | $187,522 |
| 156 | $1516.96 | $501 | $1016 | $187,021 |
| 157 | $1516.96 | $504 | $1013 | $186,517 |
| 158 | $1516.96 | $507 | $1010 | $186,010 |
| 159 | $1516.96 | $509 | $1008 | $185,501 |
| 160 | $1516.96 | $512 | $1005 | $184,988 |
| 161 | $1516.96 | $515 | $1002 | $184,473 |
| 162 | $1516.96 | $518 | $999 | $183,956 |
| 163 | $1516.96 | $521 | $996 | $183,435 |
| 164 | $1516.96 | $523 | $994 | $182,912 |
| 165 | $1516.96 | $526 | $991 | $182,386 |
| 166 | $1516.96 | $529 | $988 | $181,857 |
| 167 | $1516.96 | $532 | $985 | $181,325 |
| 168 | $1516.96 | $535 | $982 | $180,790 |
| 169 | $1516.96 | $538 | $979 | $180,252 |
| 170 | $1516.96 | $541 | $976 | $179,712 |
| 171 | $1516.96 | $544 | $973 | $179,168 |
| 172 | $1516.96 | $546 | $970 | $178,622 |
| 173 | $1516.96 | $549 | $968 | $178,072 |
| 174 | $1516.96 | $552 | $965 | $177,520 |
| 175 | $1516.96 | $555 | $962 | $176,964 |
| 176 | $1516.96 | $558 | $959 | $176,406 |
| 177 | $1516.96 | $561 | $956 | $175,845 |
| 178 | $1516.96 | $564 | $952 | $175,280 |
| 179 | $1516.96 | $568 | $949 | $174,713 |
| 180 | $1516.96 | $571 | $946 | $174,142 |
| 181 | $1516.96 | $574 | $943 | $173,568 |
| 182 | $1516.96 | $577 | $940 | $172,991 |
| 183 | $1516.96 | $580 | $937 | $172,412 |
| 184 | $1516.96 | $583 | $934 | $171,828 |
| 185 | $1516.96 | $586 | $931 | $171,242 |
| 186 | $1516.96 | $589 | $928 | $170,653 |
| 187 | $1516.96 | $593 | $924 | $170,060 |
| 188 | $1516.96 | $596 | $921 | $169,464 |
| 189 | $1516.96 | $599 | $918 | $168,865 |
| 190 | $1516.96 | $602 | $915 | $168,263 |
| 191 | $1516.96 | $606 | $911 | $167,658 |
| 192 | $1516.96 | $609 | $908 | $167,049 |
| 193 | $1516.96 | $612 | $905 | $166,437 |
| 194 | $1516.96 | $615 | $902 | $165,821 |
| 195 | $1516.96 | $619 | $898 | $165,202 |
| 196 | $1516.96 | $622 | $895 | $164,580 |
| 197 | $1516.96 | $625 | $891 | $163,955 |
| 198 | $1516.96 | $629 | $888 | $163,326 |
| 199 | $1516.96 | $632 | $885 | $162,694 |
| 200 | $1516.96 | $636 | $881 | $162,058 |
| 201 | $1516.96 | $639 | $878 | $161,419 |
| 202 | $1516.96 | $643 | $874 | $160,776 |
| 203 | $1516.96 | $646 | $871 | $160,130 |
| 204 | $1516.96 | $650 | $867 | $159,481 |
| 205 | $1516.96 | $653 | $864 | $158,827 |
| 206 | $1516.96 | $657 | $860 | $158,171 |
| 207 | $1516.96 | $660 | $857 | $157,511 |
| 208 | $1516.96 | $664 | $853 | $156,847 |
| 209 | $1516.96 | $667 | $850 | $156,179 |
| 210 | $1516.96 | $671 | $846 | $155,508 |
| 211 | $1516.96 | $675 | $842 | $154,834 |
| 212 | $1516.96 | $678 | $839 | $154,156 |
| 213 | $1516.96 | $682 | $835 | $153,474 |
| 214 | $1516.96 | $686 | $831 | $152,788 |
| 215 | $1516.96 | $689 | $828 | $152,099 |
| 216 | $1516.96 | $693 | $824 | $151,405 |
| 217 | $1516.96 | $697 | $820 | $150,709 |
| 218 | $1516.96 | $701 | $816 | $150,008 |
| 219 | $1516.96 | $704 | $813 | $149,304 |
| 220 | $1516.96 | $708 | $809 | $148,595 |
| 221 | $1516.96 | $712 | $805 | $147,883 |
| 222 | $1516.96 | $716 | $801 | $147,167 |
| 223 | $1516.96 | $720 | $797 | $146,448 |
| 224 | $1516.96 | $724 | $793 | $145,724 |
| 225 | $1516.96 | $728 | $789 | $144,996 |
| 226 | $1516.96 | $732 | $785 | $144,265 |
| 227 | $1516.96 | $736 | $781 | $143,529 |
| 228 | $1516.96 | $740 | $777 | $142,790 |
| 229 | $1516.96 | $744 | $773 | $142,046 |
| 230 | $1516.96 | $748 | $769 | $141,299 |
| 231 | $1516.96 | $752 | $765 | $140,547 |
| 232 | $1516.96 | $756 | $761 | $139,791 |
| 233 | $1516.96 | $760 | $757 | $139,031 |
| 234 | $1516.96 | $764 | $753 | $138,268 |
| 235 | $1516.96 | $768 | $749 | $137,500 |
| 236 | $1516.96 | $772 | $745 | $136,727 |
| 237 | $1516.96 | $776 | $741 | $135,951 |
| 238 | $1516.96 | $781 | $736 | $135,171 |
| 239 | $1516.96 | $785 | $732 | $134,386 |
| 240 | $1516.96 | $789 | $728 | $133,597 |
| 241 | $1516.96 | $793 | $724 | $132,803 |
| 242 | $1516.96 | $798 | $719 | $132,006 |
| 243 | $1516.96 | $802 | $715 | $131,204 |
| 244 | $1516.96 | $806 | $711 | $130,398 |
| 245 | $1516.96 | $811 | $706 | $129,587 |
| 246 | $1516.96 | $815 | $702 | $128,772 |
| 247 | $1516.96 | $819 | $698 | $127,952 |
| 248 | $1516.96 | $824 | $693 | $127,129 |
| 249 | $1516.96 | $828 | $689 | $126,300 |
| 250 | $1516.96 | $833 | $684 | $125,467 |
| 251 | $1516.96 | $837 | $680 | $124,630 |
| 252 | $1516.96 | $842 | $675 | $123,788 |
| 253 | $1516.96 | $846 | $671 | $122,942 |
| 254 | $1516.96 | $851 | $666 | $122,091 |
| 255 | $1516.96 | $856 | $661 | $121,235 |
| 256 | $1516.96 | $860 | $657 | $120,375 |
| 257 | $1516.96 | $865 | $652 | $119,510 |
| 258 | $1516.96 | $870 | $647 | $118,640 |
| 259 | $1516.96 | $874 | $643 | $117,766 |
| 260 | $1516.96 | $879 | $638 | $116,887 |
| 261 | $1516.96 | $884 | $633 | $116,003 |
| 262 | $1516.96 | $889 | $628 | $115,114 |
| 263 | $1516.96 | $893 | $624 | $114,221 |
| 264 | $1516.96 | $898 | $619 | $113,323 |
| 265 | $1516.96 | $903 | $614 | $112,420 |
| 266 | $1516.96 | $908 | $609 | $111,511 |
| 267 | $1516.96 | $913 | $604 | $110,599 |
| 268 | $1516.96 | $918 | $599 | $109,681 |
| 269 | $1516.96 | $923 | $594 | $108,758 |
| 270 | $1516.96 | $928 | $589 | $107,830 |
| 271 | $1516.96 | $933 | $584 | $106,897 |
| 272 | $1516.96 | $938 | $579 | $105,959 |
| 273 | $1516.96 | $943 | $574 | $105,016 |
| 274 | $1516.96 | $948 | $569 | $104,068 |
| 275 | $1516.96 | $953 | $564 | $103,115 |
| 276 | $1516.96 | $958 | $559 | $102,156 |
| 277 | $1516.96 | $964 | $553 | $101,193 |
| 278 | $1516.96 | $969 | $548 | $100,224 |
| 279 | $1516.96 | $974 | $543 | $99,250 |
| 280 | $1516.96 | $979 | $538 | $98,270 |
| 281 | $1516.96 | $985 | $532 | $97,286 |
| 282 | $1516.96 | $990 | $527 | $96,296 |
| 283 | $1516.96 | $995 | $522 | $95,300 |
| 284 | $1516.96 | $1001 | $516 | $94,300 |
| 285 | $1516.96 | $1006 | $511 | $93,293 |
| 286 | $1516.96 | $1012 | $505 | $92,282 |
| 287 | $1516.96 | $1017 | $500 | $91,265 |
| 288 | $1516.96 | $1023 | $494 | $90,242 |
| 289 | $1516.96 | $1028 | $489 | $89,214 |
| 290 | $1516.96 | $1034 | $483 | $88,180 |
| 291 | $1516.96 | $1039 | $478 | $87,141 |
| 292 | $1516.96 | $1045 | $472 | $86,096 |
| 293 | $1516.96 | $1051 | $466 | $85,045 |
| 294 | $1516.96 | $1056 | $461 | $83,989 |
| 295 | $1516.96 | $1062 | $455 | $82,927 |
| 296 | $1516.96 | $1068 | $449 | $81,859 |
| 297 | $1516.96 | $1074 | $443 | $80,786 |
| 298 | $1516.96 | $1079 | $438 | $79,706 |
| 299 | $1516.96 | $1085 | $432 | $78,621 |
| 300 | $1516.96 | $1091 | $426 | $77,530 |
| 301 | $1516.96 | $1097 | $420 | $76,433 |
| 302 | $1516.96 | $1103 | $414 | $75,330 |
| 303 | $1516.96 | $1109 | $408 | $74,221 |
| 304 | $1516.96 | $1115 | $402 | $73,106 |
| 305 | $1516.96 | $1121 | $396 | $71,985 |
| 306 | $1516.96 | $1127 | $390 | $70,858 |
| 307 | $1516.96 | $1133 | $384 | $69,725 |
| 308 | $1516.96 | $1139 | $378 | $68,586 |
| 309 | $1516.96 | $1145 | $372 | $67,440 |
| 310 | $1516.96 | $1152 | $365 | $66,289 |
| 311 | $1516.96 | $1158 | $359 | $65,131 |
| 312 | $1516.96 | $1164 | $353 | $63,967 |
| 313 | $1516.96 | $1170 | $346 | $62,796 |
| 314 | $1516.96 | $1177 | $340 | $61,619 |
| 315 | $1516.96 | $1183 | $334 | $60,436 |
| 316 | $1516.96 | $1190 | $327 | $59,246 |
| 317 | $1516.96 | $1196 | $321 | $58,050 |
| 318 | $1516.96 | $1203 | $314 | $56,848 |
| 319 | $1516.96 | $1209 | $308 | $55,639 |
| 320 | $1516.96 | $1216 | $301 | $54,423 |
| 321 | $1516.96 | $1222 | $295 | $53,201 |
| 322 | $1516.96 | $1229 | $288 | $51,972 |
| 323 | $1516.96 | $1235 | $282 | $50,737 |
| 324 | $1516.96 | $1242 | $275 | $49,495 |
| 325 | $1516.96 | $1249 | $268 | $48,246 |
| 326 | $1516.96 | $1256 | $261 | $46,990 |
| 327 | $1516.96 | $1262 | $255 | $45,728 |
| 328 | $1516.96 | $1269 | $248 | $44,458 |
| 329 | $1516.96 | $1276 | $241 | $43,182 |
| 330 | $1516.96 | $1283 | $234 | $41,899 |
| 331 | $1516.96 | $1290 | $227 | $40,609 |
| 332 | $1516.96 | $1297 | $220 | $39,312 |
| 333 | $1516.96 | $1304 | $213 | $38,008 |
| 334 | $1516.96 | $1311 | $206 | $36,697 |
| 335 | $1516.96 | $1318 | $199 | $35,379 |
| 336 | $1516.96 | $1325 | $192 | $34,054 |
| 337 | $1516.96 | $1333 | $184 | $32,721 |
| 338 | $1516.96 | $1340 | $177 | $31,381 |
| 339 | $1516.96 | $1347 | $170 | $30,034 |
| 340 | $1516.96 | $1354 | $163 | $28,680 |
| 341 | $1516.96 | $1362 | $155 | $27,319 |
| 342 | $1516.96 | $1369 | $148 | $25,950 |
| 343 | $1516.96 | $1376 | $141 | $24,573 |
| 344 | $1516.96 | $1384 | $133 | $23,189 |
| 345 | $1516.96 | $1391 | $126 | $21,798 |
| 346 | $1516.96 | $1399 | $118 | $20,399 |
| 347 | $1516.96 | $1406 | $110 | $18,993 |
| 348 | $1516.96 | $1414 | $103 | $17,579 |
| 349 | $1516.96 | $1422 | $95 | $16,157 |
| 350 | $1516.96 | $1429 | $88 | $14,727 |
| 351 | $1516.96 | $1437 | $80 | $13,290 |
| 352 | $1516.96 | $1445 | $72 | $11,845 |
| 353 | $1516.96 | $1453 | $64 | $10,392 |
| 354 | $1516.96 | $1461 | $56 | $8,932 |
| 355 | $1516.96 | $1469 | $48 | $7,463 |
| 356 | $1516.96 | $1477 | $40 | $5,987 |
| 357 | $1516.96 | $1485 | $32 | $4,502 |
| 358 | $1516.96 | $1493 | $24 | $3,009 |
| 359 | $1516.96 | $1501 | $16 | $1,509 |
| 360 | $1516.96 | $1509 | $8 | $0 |
How This Mortgage Calculator Works
This calculator helps you estimate your monthly mortgage payment by accounting for the four main components: Principal, Interest, Taxes, and Insurance (PITI). If applicable, it also includes Homeowners Association (HOA) fees.
Legal & Tax Disclaimers
This tool is for informational purposes only. It does not provide financial, legal, or tax advice. Property taxes, insurance premiums, and HOA fees can vary significantly by location and provider. Users should check current laws, lender terms, and consult professionals before making decisions.
Things to Watch Out for When Comparing Mortgages
- APR vs. Interest Rate:The interest rate is the cost to borrow the money, while the Annual Percentage Rate (APR) includes the interest rate plus other costs like points, broker fees, and other charges. The APR is a broader measure of the cost of borrowing.
- Loan Term:A 30-year loan will have lower monthly payments than a 15-year loan, but you'll pay significantly more in interest over the life of the loan.
- Private Mortgage Insurance (PMI):If your down payment is less than 20%, you'll likely have to pay for PMI, which protects the lender if you stop making payments.