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Estimate Your Monthly Payment
Use this page to estimate your loan payment, total payments in the first year of your loan, and the total interest and principal you might pay the first year.  To see the answer, tab to either field on the page labeled Monthly Payment.

If you are borrowing on one mortgage, fill in lines 1-3. If you're taking out two mortgages, fill in the second loan's terms on lines 4-6.
1. Enter the amount of money you would like to borrow on your first mortgage

2. Enter the interest rate on your first mortgage as a number greater than 1
   Example:  7.15 for a 7.15% interest rate
3. Enter the term of your first mortgage in years
   Example:  25 for a twenty-five year loan
4. Enter the amount of money you would like to borrow on your second mortgage
5. Enter the interest rate on your second mortgage as a number greater than 1
6. Enter the term of your second mortgage in years
Estimated Monthly Payment
Estimated Total Payments Per Year
Estimated Interest Paid in Year 1
Estimated Principal Paid in Year 1
Important Note:  The amounts calculated above do not account for insurance, taxes, or monthly fees that might be part of your monthly payment.  Property tax is usually either a percentage of the sales price or a percentage of assessed value; check with your local tax authority for rates and calculation methods in your area.  Prices for insurance vary based upon coverage desired; check with an insurance company for quotes on homeowner policies.  Homeowners association fees can be obtained either from the seller or from association management.

You can roughly estimate what your total monthly payment might be by entering a purchase price, property tax rate, insurance amount, and any other fees you might incur in the boxes below.

Enter an estimated purchase price for your new home.  Remember that it is likely to be an amount greater than the amount you intend to borrow (you must supply a down payment for the difference between the purchase price and the mortgage).
Enter the property tax rate for your area as a number between .1% (.1) and 99% (99).  Property tax rates generally range from .5% to 2% across the country.
Estimate your annual cost of insurance.  Policies range from $100-2,000 depending upon the size, type, and location of home and the type of coverage desired.  If you live in a hazard area, don't forget to include the cost of hazard insurance.
If you will be paying homeowners association or other fees, estimate your monthly fee.
Estimated Annual Property Tax
Your Estimated Total Monthly Payment is
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