Calculators
Monthly payment estimator
Most calculators show you principal and interest and call it a payment. That number is always wrong by several hundred dollars. This one includes taxes, insurance, HOA dues and mortgage insurance, because those are the things that actually land in your escrow account.
5.0% down
An estimate — your actual rate depends on your file.
Estimated monthly payment
$0
- Principal & interest
- $0
- Property taxes
- $0
- Home insurance
- $0
- HOA dues
- $0
- Mortgage insurance (est.)
- $0
Loan amount $0
Under 20% down, most loans carry mortgage insurance. The figure above is a rough placeholder — the real cost depends on your program and credit.
Get a real numberFor estimation only. Not a loan offer, a quote, or a commitment to lend. Taxes, insurance and mortgage insurance vary by property and borrower; your actual payment will differ.
How to read this
Principal & interest is the loan itself, and it is the only part that is truly fixed on a fixed-rate mortgage.
Taxes and insurance are collected monthly and held in escrow. They go up over time, which is why a payment quoted at closing is rarely the payment you have in year five. In Texas in particular, property taxes make up a larger share of the payment than buyers moving from other states expect.
Mortgage insurance appears when you put down less than 20%. On a conventional loan it eventually comes off. On most FHA loans it does not. That difference is often worth more than the rate gap between the two programs.
None of this is a quote. To get a real number — the one you can plan around — I need about fifteen minutes of your actual details.
An estimate is a starting point.
A real pre-approval is what gets your offer accepted. That part does not take long either.