Do you want to know what your monthly payments will look like?
Now, you can calculate your monthly mortgage payment, including principal, insurance and taxes, with our handy Monthly Mortgage Payment calculator.
As you can see by the information listed to the left, the amount you pay on a monthly basis can change based on the amount of your loan, the interest rate and the term of your loan.
There are many other factors that can also be taken into consideration when determining this figure. Even the value of your home can have a significant role in the calculation of your monthly mortgage payment.
You plan to borrow $250,000.00 for 30 years.
Your interest rate is fixed at 5.0%.
The value of your home is $300,000.00.
You will be paying $3,000.00 a year in property taxes and $1,500.00 a year for insurance.
From this information, you can expect that your local monthly payments will equal $1,894.14 ($1,342.05 principal, $250.00 taxes and $125.00 insurance).
Disclaimers: The information provided by these calculators is for illustrative purposes only. There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. The default figures shown are hypothetical and may not be applicable to your individual situation. The calculated results are also intended for illustrative purposes only and accuracy is not guaranteed. There is not tax or financial advice given. Default and calculated tax data are for illustrative purposes only. Be sure to consult a tax or financial professional regarding your specific situation and before relying on the results.
Any hypothetical monthly mortgage payments reflect hypothetical Principal & Interest amounts rounded to the nearest dollar amount and may not include insurance, taxes, or other possible fees. These figures and rates are for educational purposes only and do not reflect an official mortgage loan offer.
We have many other Mortgage Calculators for you to use.
Make sure you register to receive my Free Homebuying Guide and Insider Mortgage Reports, browse my Resources section, fill-out a FREE No-Obligation Secure Online Loan Application, or call me in my Duluth, Georgia office at 770-235-9907. I am here to help you with all your mortgage needs.