MORTGAGE
CALCULATOR
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Mortgage Payment Calculator Instructions
Welcome to our easy-to-use Mortgage Payment Calculator! Follow these simple steps to calculate your monthly mortgage payment, including principal, interest, taxes, insurance, and PMI.
Purchase Price: Enter the total purchase price of the property.
Down Payment: Provide the down payment in dollars or as a percentage of the purchase price. As you enter one value, the other will auto-calculate.
Interest Rate: Input the annual interest rate of your mortgage.
Loan Term: Specify the duration of your loan in years.
Insurance: The monthly insurance cost is pre-filled with a national average. Adjust if needed.
PMI: Private Mortgage Insurance is auto-calculated based on the down payment and purchase price. It drops to zero if down payment is 20% or more.
Taxes: Property taxes are auto-calculated as a percentage of the purchase price.
Once all fields are filled, click on the 'Calculate' button. The total monthly payment and a breakdown of each component will be displayed. Modify any field to re-calculate as needed.