Mortgage Calculator

This calculator is not meant to be an offer to lend money.

It is to be used to give you an idea as how much your monthly payment will be.
Total Payment calculations are close estimates only!

Mortgage & Expense Information

Term (Yrs.):
Interest Rate:
Loan Amount:
Ann. Taxes:
Ann. Insurance:

Resulting Monthly Payments

Principal and Interest
Insurance
Taxes
Total Payment

If you’re thinking of refinancing to take advantage of low interest rates, here are some questions to consider.
Will I benefit from refinancing my home loan?
The old rule used to be that it paid to refinance when
the new interest rate will be at least 2% lower.
Today, it can be profitable to refinance if you can reduce your home loan’s interest rate just 0.5%.
Is a fixed or adjustable rate best? However, if you expect to sell your home in a few years, an adjustable rate mortgage that is "locked in" for the first three, five or even seven years can be a bargain.

Is a 15-year or 30-year mortgage best?
You’ll save thousands of interest dollars and pay off your mortgage much sooner with a 15-year mortgage. But the monthly payments is about 20% higher that with a
30 – year mortgage. This is a wonderful time to refinance your home to take advantage of today’s low interest rates.