This calculator, by its nature, is generic and does not necessarily calculate what your specific loan payment options might be. However it does allow you to input your values, including the amount of your loan and get an estimate on the amount of your monthly payments for a conventional loan. Click on the "Calculate" button when you're ready.
This does not represent all of the options available to you as we have many loan products such as VA, FHA, HUD184, AHFC, CIHA and ANHA which may apply to your particular circumstances. In today's complicated mortgage world we highly recommend contacting a trusted and licensed mortgage originator in your state to obtain more specific and accurate calculations that match your specific goals and objectives.
**Private mortgage insurance is an insurance policy that a residential mortgage lender requires of the borrower if the loan-to-value (LTV) ratio of the home is greater than 80%. Mortgage insurance protects the lender from the risk that the borrower may default on the loan. Federal law requires lenders to notify borrowers when the loan-to-value ratio drops below 78% however you can request that the lender remove the mortgage insurance when you are at 80% of your original purchase price. Mortgage insurance premiums vary, but generally range from $1,000 to $5,000 a year for an average priced home.
***Assessments are monthly fees such as Home Owners Association (HOA) Fees etc...
Results received from this calculator are designed for comparative purposes only, and accuracy is not guaranteed. You can have some fun by entering in an extra payment of say $100 each month and see how much you will save over the life of the loan.