Calculate your monthly payments before you finance your next home.

Estimate Monthly Payments
Before you pick out a new home, find out approximately how much your monthly mortgage payments will be. Enter the information below to estimate your payments.

Please be aware that actual payments may vary considerably from this estimate based on your actual mortgage product, interest rate, and term. This calculator is meant for estimation purposes only.

Instructions:

1. Enter the full amount you plan to borrow, or "principal"-this will be the total purchase price of your home minus your down payment.
2. Enter the "loan term," which is the number of years in which you plan to repay the loan. Most mortgage terms are 30 or 15 years, but some lenders offer loan terms of 25 or 40 years.
3. Enter an interest rate. If aren't sure what rate to enter, you can use the current average rates on the right.
4. For a better estimate of your payments, enter any other annual costs, such as estimated real estate taxes, homeowner's insurance, and mortgage insurance.
5. Click compute. Your estimated monthly mortgage payment and other costs will automatically be displayed.

Total Loan Amount (total $) Loan Term (in years) Interest Rate (%)
The following information is used for a better approximation but is not required.
Real Estate Taxes (12 mos.) Homeowner's Insurance (12 mos.)
Mortgage Insurance (12 mos.) Association Dues (12 mos.)

Monthy Mortgage Payment Total Monthly Payment
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