MONTHLY MORTGAGE PAYMENT CALCULATOR

See what your monthly payment might look like.

The mortgage payment calculator helps you understand the different factors to consider when getting mortgage and how they might affect your monthly budget.

Provide some information to calculate your monthly mortgage payment

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    Question answer section

    Question

    How can I compare loan offers when shopping for a mortgage?

    Answer
    If you are comparing loans across lenders, you may want to look at all costs, not just the interest rate. The annual percentage rate (APR) tells you the estimated cost of your loan, which includes the interest rate and other upfront fees that you pay for the loan (such as discount points and origination fees). The APR is based on the assumption that you'll keep the loan for its entire term to compare loans of the same type and length.

    It looks like you
    may be able to pay about per month


    $
    Principal & Interest

    $
    Other Monthly Expenses

    Information and interactive calculators are made available as self-help tools for your independent use and are intended for educational purposes only. Any results are estimates and we do not guarantee their applicability or accuracy to your specific circumstances

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      What does this possibly mean for me?

      Based on the information you provided, the amount shown above gives you an estimate of what you may need to pay each month to finance your home. The monthly payment example quoted consists of:

      Principal: Repayment of a portion of the amount borrowed

      Interest: The cost of borrowing the outstanding amount of these funds for one month.

      Other Monthly Expenses:Includes property taxes, homeowner's insurance premiums, and maintenance costs. Mortgage insurance expenses—which you may have to pay if your downpayment is less than 20%—are not included in this calculation.

      You selected an adjustable rate mortgage or ARM. The amount shown above can give you an estimate of what you'll need to pay each month to finance your home during the initial, fixed rate portion of your loan period*. Your monthly payment consists of:

      Principal: Repayment of a portion of the amount borrowed.

      Interest: The cost of borrowing the outstanding amount of these funds for one month during the fixed rate loan period.*

      Other Monthly Expenses: Including property taxes, homeowner's insurance premiums, and maintenance costs. Mortgage insurance expenses—which you may have to pay if your downpayment is less than 20%—are not included in this calculation.

      * For example, for a 5/1 ARM, the fixed rate period is 5 years, or 60 months. After the fixed rate period, your payment may change based on the change in the index used to calculate your interest rate.

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