Home Mortgage Loans

This mortgage calculator can be used to figure out monthly payments of a home mortgage loan, based on the home's sale price, the term of the loan desired, buyer's down payment percentage, and the loan's interest rate.

This calculator factors in PMI.* Also taken into consideration are your town property taxes and their effect on the total monthly mortgage payment.

Purchase & Financing Information:

Sale Price of Home:		(In Dollars)
Percentage Down:		%
Length of Mortgage:		years
Annual Interest Rate:		%
Property Tax Rate:		%
Explain Calculations:		Show me the amortization

 

*Private mortgage insurance (PMI) is insurance written by a private company that protects the lender from losses in the event the borrower defaults on the mortgage. Borrowers are required to pay the premium for private mortgage insurance. Private mortgage insurance limits a lender's exposure to financial loss resulting from loan default. If you make a down payment of less than 20%, even if you have a good credit profile, lenders generally require private mortgage insurance.