This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are the town property taxes, and their effect on the total monthly mortgage payment.

Purchase & Financing Information

Show me the calculations and amortization

Mortgage Financing Pre-Qualifying

Closing Costs

Closing costs are usually less than 2.5% of the loan amount for government-backed loans.

Conventional loan closing costs can be estimated using 1.5% plus the front end fees (including loan origination fee). These can vary widely depending on the lender loan discount fee (points) being charged. A “point” equals 1% of the loan amount. Your lender will provide a good-faith estimate of these costs before loan closing.

In estimating closing costs, the following should be included:

  • Appraisal Fee (normally paid at loan application)
  • Credit Report Fee (normally paid at loan application)
  • Loan Origination Fee
  • Loan Discount Fee
  • Mortgage Insurance Premium
  • Interest Per Diem Adjustment
  • Mortgage's Title Insurance Fee
  • Homeowners Insurance Premium/Escrow
  • Inspection Cost (typically paid
    separate from closing)
  • Survey
  • Recording Fees
  • Documentary Fee
  • Tax Certificate
  • Tax Escrow
  • Flood Insurance (if applicable)
  • Loan Closing Fee (s)
  • Lender Funding Fee