Mortgage Payment Calculator
Calculate your monthly mortgage payment and see how different scenarios affect your costs. Get a clear picture of your future homeownership expenses.
Loan Details
PMI is required when down payment is less than 20%
Your Monthly Payment
Total Monthly Payment
Principal & Interest
Enter your loan details to see your personalized payment breakdown
Understanding Your Mortgage Payment
Your monthly mortgage payment consists of several components. Understanding each part helps you budget effectively and make informed decisions.
Principal & Interest
The core of your payment - principal reduces your loan balance, interest is the cost of borrowing
Property Tax & Insurance
Protect your investment and contribute to local services through taxes and insurance
PMI & HOA
Additional costs for mortgage insurance (if applicable) and community maintenance fees
Try an Example Scenario:
Get My Pre-ApprovalPayment Breakdown Chart
*The calculations provided by this mortgage calculator are estimates for educational purposes only and should not be considered as guaranteed rates or financial advice. Your actual monthly payment, interest rate, and total costs will depend on various factors including your credit score, loan type, down payment amount, and current market conditions.
This calculator provides general estimates based on the information you input. Actual mortgage rates and terms are subject to lender approval and may vary. NewFed Mortgage encourages you to connect with one of our experienced loan officers who can provide personalized rate quotes and financing options tailored to your unique situation.
Property taxes, homeowners insurance, and HOA fees are estimated and may vary based on your specific property and location. PMI (Private Mortgage Insurance) is typically required for conventional loans with less than 20% down payment. Veterans and active military may qualify for VA loans with different terms.
The total interest paid calculation assumes you make all scheduled payments on time for the full loan term without any additional principal payments. Actual results may vary based on payment history and any extra payments made.
NewFed Mortgage NMLS #1881 | Equal Housing Lender
