Mortgage Calculator
See what a monthly payment could look like before you start touring homes, or what price fits the payment you want.
Payment and affordability calculator
See the whole monthly payment for a price, or flip it around and see what price fits a monthly budget. Leave any line blank to leave it out.
| Principal and interest | $0 |
|---|---|
| Property taxes | $0 |
| Homeowners insurance | $0 |
| HOA dues | $0 |
| CDD assessment | $0 |
| Mortgage insurance | $0 |
| Estimated total per month | $0 |
Blank lines are left out of the total.
Estimate only. A calculation from the numbers entered above, for information only. It isn't a pre-qualification, loan approval, rate quote, or loan offer, and it doesn't apply a lender's requirements, such as debt-to-income limits, credit or reserves. Actual rates, taxes, insurance, HOA and CDD amounts, mortgage insurance, and loan terms vary. Only a lender can tell you what you qualify for.
For a property-specific estimate, have our team check these numbers, or ask the appropriate professional.
How we calculate this
Principal and interest use the standard formula for a fixed-rate loan: the monthly payment on a loan amount L is L × r(1+r)n / ((1+r)n − 1), where r is the yearly rate divided by 12 and n is the number of monthly payments. Yearly property taxes, insurance, and CDD assessments are divided by 12; HOA dues and mortgage insurance are entered monthly.
In "What can I afford?", the calculator finds the price at which principal and interest, plus property taxes at the rate you enter, plus your other monthly costs, add up to your budget. It doesn't model adjustable rates, or taxes and insurance that change after you buy.
An estimate to plan with, not a closing figure. Your title company and lender provide the final numbers.
Have our team check these numbers
Send them over and we'll help you pin down the tax, insurance, HOA, and CDD figures for a specific home or neighborhood.
Common questions about mortgage calculations
How do I calculate my monthly mortgage payment?
To calculate your monthly mortgage payment, enter the loan amount, interest rate, and loan term above to see an estimated monthly payment.
What factors affect my mortgage interest rate?
Your mortgage interest rate can be influenced by your credit score, the loan amount, the loan term, and the type of loan. Lenders also consider current market conditions.
Can I afford a mortgage with my current income?
It shows a payment for the price and costs you enter. It does not look at income or debts; a lender's pre-approval tells you what you qualify for. We can help you find a lender to talk with.
What is the difference between a fixed-rate and an adjustable-rate mortgage?
A fixed-rate mortgage has a constant interest rate throughout the loan term, while an adjustable-rate mortgage (ARM) has a variable interest rate that can change periodically based on market conditions.
How much should I save for a down payment?
Typically, a down payment ranges from 3% to 20% of the home's purchase price. Try different amounts in the calculator above to see how it affects your monthly payment.
Ready to see the numbers for a specific home?
A calculator can't tell you what the taxes, insurance, and HOA will be on a specific home, or what's happening in this market right now. A five-minute conversation can. Call us at (941) 776-5571, or just let us know you're thinking about it.