What Price Home Can I Afford?
Mortgage Calculator
Use our home loan calculator to estimate your total mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment, and details about the home loan, to calculate your mortgage payment, schedule, and more.
Factors:
- Home Price: Enter the price of the home you are looking to purchase.
- Down Payment: Typically, 20% is standard, but it can range from 3.5% to 20% depending on the loan.
- Loan Term: Choose the length of your loan. Common options are 30-year or 15-year terms.
- Loan Type: Decide whether you want a fixed-rate mortgage (where the interest rate stays the same for the life of the loan) or an adjustable-rate mortgage (which can change after a set period).
- Interest Rate: This depends on your credit score and loan type. The average rate is a good starting point for the estimate.
- Property Taxes: This is typically a percentage of the home’s value and is included in the monthly payment.
- Home Insurance: Required by most lenders, it's another factor in the monthly payment.
- HOA Fees: If the property is in an HOA, these fees need to be included.