Purchase Mortgage Calculator
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.