How this calculator works
Principal and interest use the standard amortization formula. Mortgage insurance applies only below 20% down and is an estimate.
Loans this applies to
Conventional Loans
A conventional loan is a mortgage not insured by the government that follows Fannie Mae or Freddie Mac guidelines.
FHA Loans
An FHA loan is a government-insured mortgage that allows 3.5% down with a credit score of 580 or higher, or 10% down with a score from 500 to 579.
VA Loans
A VA loan is a mortgage guaranteed by the Department of Veterans Affairs that lets eligible veterans, active-duty service members and certain surviving spouses buy with no down payment and no monthly mortgage insurance.
FAQ
Is the Mortgage Payment Calculator free?
Yes. It is free, needs no sign-up and does not check your credit.
How accurate is the Mortgage Payment Calculator?
It uses the same formulas lenders use, but results are estimates. Your actual terms come from your Loan Estimate or term sheet.
Estimates only, for educational use. Not a loan offer or commitment to lend.