Calculator
What will my monthly payment be?
Pick a loan type, slide the price and down payment, and see the full monthly payment including taxes, insurance and mortgage insurance.
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Calculator by Goalee, running under Frank’s account. If it does not load, open it in a new tab (opens in a new tab).
Questions people ask
- Does this include taxes and insurance?
- Yes. The headline number is the full payment: principal, interest, property tax, homeowners insurance, mortgage insurance if your loan has it, and HOA dues if you enter them. Taxes and insurance are estimates until you have a specific property.
- When does PMI go away on a conventional loan?
- Under the Homeowners Protection Act, PMI cancels automatically when your balance is scheduled to reach 78% of the original value, and you can request cancellation at 80%. The calculator shows the month that happens on the normal schedule.
- Why does the VA payment have no mortgage insurance?
- VA guarantees part of the loan for the lender, so there is no monthly mortgage insurance. Instead there is a one-time funding fee, which can be rolled into the loan. Veterans receiving VA disability compensation are exempt.
- How accurate is this?
- The principal and interest math is exact for a fixed-rate loan. Taxes, insurance and mortgage insurance are estimates based on typical rates. Your Loan Estimate from Frank will have the real figures.