How Much Will My Payments Be?

Calculate your monthly payment with applicable financial charges, PMI, hazard insurance, and property taxes.
Loan Information
Loan Information
Amount : ($)
Interest Rate : (%)
Length : (Yrs)
Property Information
Home Value : ($)
Taxes And Insurance Information
Annual Taxes :
Annual Insurance :
Annual PMI :
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Financial Analysis (Switch to Plain English)
Monthly Principal & Interest : $1,193.54
Monthly Real Estate Taxes : $250.00
Monthly Insurance : $125.00
Loan To Value Ratio : 83.33%
Months With PMI : 26
Monthly PMI : $104.17
Total Monthly Payments : $1,672.70
Plain English Help (Switch to Financial Analysis)

Your payment will vary depending on how much you will be borrowing, the interest rate, and the length of your loan. Other factors also need to be taken into consideration, such as your taxes, your insurance, and your PMI, all of which are included in your monthly house payment. Even the value of your home will affect your payment.

Just as an example, let's say you are borrowing $250,000.00 for 30 years with an interest rate of 4.000%. If the value of your home is $300,000.00, your property taxes $3,000.00 per year and your insurance is $1,500.00 per year, you can expect to be making a total payment of $1,672.70. This is because you need to pay $1,193.54 toward the actual loan, plus $250.00 for real estate taxes and $125.00 toward insurance.

Since your loan to value ratio is 83.33%, you will also have to pay PMI for 26 months which will add an extra $104.17 a month. Don't forget to drop the PMI when the 26 months is complete and you might save yourself some money each month. Canceling your PMI will require a reappraisal of your home in most cases.

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your financial and/or tax advisor.