Total Mortgage Payment Calculator

The conventional mortgage payment calculator shows you the total amount of principal and interest (plus taxes and insurance) that you will be expected to pay on your loan each month. The principal portion is the amount that goes toward paying off the total amount borrowed. The interest is what the lender charges for the amount borrowed.

Mortgage Calculator

Loan Details

Home Price

$

Down Payment

$

Down payment percentage: 20%

Interest Rate

%

Loan Term

🇺🇸 VA Loan

No down payment required • No PMI

Additional Monthly Costs (Optional)

Property Tax

$

Home Insurance

$

PMI

$

HOA Fees

$

Monthly Payment Breakdown

Principal & Interest $2,147

Property Tax $500

Home Insurance $200

PMI $0

HOA Fees $0

Total Monthly Payment $2,847

Loan Summary

Loan Amount:

$400,000

Total Interest:

$372,920

Total Paid:

$772,920

Payoff Date:

Dec 2054

The answers to all of your mortgage questions

Frequently Asked Questions

Committed to giving you all the support and guidance you need to find the right mortgage options for you and your family.

What types of home loans are available?

There are several loan options, including conventional loans, FHA loans, VA loans, USDA loans, and jumbo loans. Each has different eligibility criteria, down payment requirements, and benefits depending on the borrower’s financial situation.

How much do I need for a down payment?

The amount varies depending on the loan type and lender. For example:

Conventional loans typically require 3–20% down.

FHA loans may require as little as 3.5%.

VA and USDA loans can offer 0% down payment options for qualified borrowers.

What’s the difference between a fixed-rate and adjustable-rate mortgage?

A fixed-rate mortgage keeps the same interest rate and payment for the life of the loan.

An adjustable-rate mortgage (ARM) starts with a lower initial rate that can change after a set period, depending on market rates.

How do I know how much I can afford?

Lenders consider your income, credit score, debt-to-income (DTI) ratio, and down payment to determine affordability. A general rule of thumb is to keep your total housing costs under 28–30% of your gross monthly income.

What factors affect my mortgage interest rate?

Your rate is influenced by:

Credit score

Loan type and term

Down payment amount

Market conditions

Debt-to-income ratio

What is PMI (Private Mortgage Insurance), and do I need it?

PMI is required for most conventional loans with less than a 20% down payment. It protects the lender in case of default. Once your equity reaches 20%, PMI can typically be removed.

How long does it take to get approved for a home loan?

The process usually takes 30–45 days, depending on factors such as document submission, appraisal scheduling, and lender workload. Getting pre-approved can speed up the process when you’re ready to make an offer.

Apply Now and discover the

lowest rates.

Whether you are a potential homebuyer, refinancing homeowner, real estate professional, or investor, I’d love to talk and see how I can help.

Talk To Ben

(808) 481-9635