Mortgage Calculator
Calculate monthly mortgage payments based on loan amount, interest rate, and term.
Loan Information
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Loan amount: $320,000
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Include Taxes & Insurance
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Annual: $4,000 | Monthly: $333
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Monthly: $100
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Mortgage Affordability Tips
- 28% Rule: Ideally, your monthly mortgage payment should be less than 28% of your monthly gross income.
- 20% Down Payment: Aim for a 20% down payment to avoid Private Mortgage Insurance (PMI).
- Emergency Fund: Maintain 3-6 months of housing payments in savings for unexpected expenses.
Mortgage Payment Summary
30 year fixed mortgage at 6.5% APR
Monthly Payment
Principal, interest, taxes & insurance
$0.00
Principal & Interest$0.00
Property Tax$0.00
Home Insurance$0.00
Total Loan Amount$320,000.00
Total Interest Paid$0.00
Total of All Payments$0.00
Payment Breakdown
Principal & Interest
Tax
Ins
Principal & Interest: $0.00
Property Tax: $0.00
Insurance: $0.00
Did You Know?
Making one extra mortgage payment per year can shorten a 30-year mortgage by about 4 years and save you thousands in interest.
A 15-year mortgage typically has lower interest rates than a 30-year mortgage, but higher monthly payments. Over the life of the loan, a 15-year mortgage can save you more than 50% in interest costs.