Purchase Mortgage Calculator

Loan Type: Term: Purchase Price ($): Down Payment ($): Interest Rate (%): Annual Homeowner Insurance ($): Annual Property Tax ($): Monthly HOA ($):

Results

Principal & Interest: $0

Homeowner's Insurance: $0

Property Taxes: $0

HOA Fee: $0

Total Monthly Payment: $0

How the Results Are Calculated:

The monthly mortgage payment (Principal & Interest) is calculated based on the loan amount, interest rate, and loan term. We also include additional costs such as:

PMI (Private Mortgage Insurance): If applicable (typically for Conventional loans with less than 20% down payment).
MIP (Mortgage Insurance Premium): For FHA loans, which require mortgage insurance.
Property Taxes: Estimated annual property taxes divided by 12.
Homeowner's Insurance: Estimated annual homeowner's insurance divided by 12.
HOA Fees: If applicable, added to your total monthly payment.

The result gives you the total monthly payment, which includes your mortgage, insurance, property tax, and HOA fees, if applicable.