Mortgage

Mortgage Calculator

Purchase Price ($):

Down Payment ($):

Loan Term (years):

Extra Monthly Payment ($):

Gross Monthly Income ($):

Current Monthly Rent ($):

Time Planning to Stay (years):

Amortization Cycle (Months): 0

Use the calculator to get started

Principal: $0.00

Interest: $0.00

Insurance: $0.00

Taxes: $0.00

PMI: $0.00

Amortization Schedule

EST CLOSING COSTS

Loan Origination:$0

Broker Fee:$0

Title Insurance:$0

Escrow Fees:$0

Pre-paids:$0

Inspection Fee:$0

Appraisal Fee:$0

Total Closing Costs:$0

MAX PURCHASE PRICE

📊 Based on a 43% DTI, your estimated max purchase power is

Enter income to see your purchasing power

BUY VS RENT

Total Renting Cost

Total Buying Cost

Enter your current rent and time planning to stay to compare.

Disclaimer:

This calculator provides an estimate for informational purposes only. Actual rates, terms, and fees may vary based on individual circumstances. Please consult with a professional for personalized advice.

Current Rates

30-Year Fixed

15-Year Fixed

5/1 ARM

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FAQs

Getting pre-approved gives you a clear understanding of your budget and shows sellers you're a serious buyer. It's often the first step before shopping for a home.

PMI (Private Mortgage Insurance) is required when your down payment is less than 20%. It protects the lender—not you—in case of default.

While 20% is ideal, many buyers purchase with 5%, 3%, or even 0% down depending on the loan type (FHA, VA, USDA).

Most lenders require a minimum credit score of 620 for conventional loans. FHA loans may accept scores as low as 580 with a 3.5% down payment.

Escrow is an account where your lender holds funds to pay property taxes and homeowner's insurance on your behalf. It helps ensure those critical expenses are always paid on time.

Closing costs typically range from 2% to 5% of the home's purchase price and include fees for the loan, appraisal, inspection, title, and more. Our calculator estimates them for you!

A fixed-rate mortgage has the same interest rate for the life of the loan. An adjustable-rate mortgage (ARM) starts with a lower rate that can change over time based on market conditions.