Calculating Your Mortgage Payment

One of our loan originators would be happy to help you estimate a potential mortgage payment for you; this page is here to empower those who would like to play around with the numbers themselves.

These calculators only help you calculate the Principal & Interest portion of your payment. A mortgage payment has a few pieces to it:

Principal & Interest
Property Taxes
Homeowner's Insurance
Mortgage Insurance (when applicable)
HOA dues (when applicable)

Here is what you need to know to estimate the other pieces:

Property Taxes: This will vary by state and property. If you have a property in mind, Zillow estimates how much you would pay in property taxes monthly. While you might also be able to find the most recent property tax bill, keep in mind that the tax bill could jump significantly after the home is purchased.

Homeowner's Insurance: This too will vary by state and property. While your experience could differ significantly, in many states it is common to get a policy for around $100/mo (but could even exceed $500/mo depending on the property and state it is in). To get a more accurate answer, get a rate quote from an insurance provider.

Mortgage Insurance: This can vary significantly (from under $50/mo to over $500/mo) based on your purchase price, down payment, credit score, and the loan product you choose. On a Conventional loan with a 20% or greater down payment, no mortgage insurance is required. Speak with one of our loan originators to get a mortgage insurance estimate.
HOA dues: This can vary significantly by community or property type (they are much more prevalent with condos). You'll want to check out what they are for any home you are interested in.

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