Mortgage Calculator
Calculate your monthly mortgage payment, including principal, interest, taxes, insurance, and more. Understand the true cost of homeownership with detailed breakdowns.
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Calculator Inputs
Total Monthly Payment
$0
Payment Breakdown
Loan Amount
$0
Total Interest
$0
Principal + Interest over 30 years
Understanding Your Mortgage
A mortgage is a loan used to purchase a home, secured by the property itself. Your monthly payment typically includes four components, often referred to as PITI: Principal, Interest, Taxes, and Insurance.
Key terms to understand:
- Principal: The amount borrowed to buy the home
- Interest: The cost of borrowing money, paid to the lender
- Amortization: The process of paying off your loan over time. Early payments go mostly toward interest, while later payments go mostly toward principal
- PMI: Private Mortgage Insurance, required when down payment is less than 20%
- HOA: Homeowners Association fees for shared amenities and maintenance
Important note: This calculator provides estimates based on the information you provide. Actual mortgage terms, rates, and costs will vary based on your credit score, location, lender, and other factors. Always consult with qualified financial advisors and mortgage professionals before making major financial decisions.
Disclaimer: This calculator is for educational and illustrative purposes only. Results are estimates and may not reflect actual outcomes. Investing Point does not guarantee the accuracy of these calculations and is not responsible for any decisions made based on this tool.
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