+ Mortgage Calculator

​Some helpful hints on using this calculator:

Home value: For purchases, input purchase price. For refinances, input the appraised value.
Down Payment: For purchases, input the dollar amount you are paying in cash. For refinances, input the equity you own (appraised value - loan balance).
Loan Amount: This is the total loan amount you are seeking. (NOTE: if you are financing any of your closing costs, make sure those are included here.)
Interest Rate: If you are making sure your mortgage numbers work for a purchase or refi, be conservative with the interest rate to be safe.
Loan Term: Input the number of years you want to be paying your loan. Typically this would be 10, 15, 20 or 30 years. Most people go with a 30 year loan, but there are varying reasons to choose a loan term depending on your goals. Refer to the Mortgage topic in the Real Estate section for more information.
Start Date: You can use a rough estimate of when you think you might close.
Property Tax: Input the yearly property tax amount. Check out this article on how to find the property tax amount for any property.
PMI: If your Downpayment percentage is 20% or higher, input 0​. 
Home Insurance: If you have not got a quote from an insurance provider, search for average local rates or ask your local realtor. Yearly policy premiums are going to vary depending on the property location, age/quality of house, type (single, multifamily, condo).
Monthly HOA: If you are buying a condo, this is your monthly Homeowners Association fee. If you are not buying or refinancing a condo, put $0.