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    • HOME
    • GET STARTED
      • APPLY NOW
      • The Mortgage Process
      • Understanding Your Credit
      • Mortgage Calculator
    • MORTGAGE PROGRAMS
      • Refinance
      • FHA Home Loan
      • Conventional Loans
      • Veterans "VA" Loan
      • JUMBO Loans
      • Additional Programs
    • Contact
  • HOME
  • GET STARTED
    • APPLY NOW
    • The Mortgage Process
    • Understanding Your Credit
    • Mortgage Calculator
  • MORTGAGE PROGRAMS
    • Refinance
    • FHA Home Loan
    • Conventional Loans
    • Veterans "VA" Loan
    • JUMBO Loans
    • Additional Programs
  • Contact
Mortgage Calculator:

Your Financial Planning Tool

Explore the interactive mortgage calculator to

guide your financial decision 

and empower your decision with confidence and clarity.

How It Works:

Monthly Payment Estimator

Discover your purchasing power and monthly mortgage payment swiftly with our mortgage calculator. Simply input your home price, down payment, loan term, and interest rate. Easily tailor inputs while exploring loan options.

Typical costs included in a mortgage payment

Your monthly mortgage payment comprises principal and interest, where the principal is the borrowed amount, and interest is the lender's charge expressed as an annual percentage. Additionally, an escrow account may collect funds monthly for property taxes and homeowners insurance, covering one-twelfth of the annual amounts. Homeowners insurance protects against various hazards, and if applicable, additional insurance for flood, hurricane, or earthquake may be required. Mortgage insurance is also added if the down payment is less than 20% of the home's purchase price.

How a mortgage calculator can help

Use a mortgage calculator to estimate your crucial monthly house payment, exploring scenarios for loan length, considering adjustable-rate mortgages, checking affordability, and deciding on a down payment amount. Adjust details for informed decisions on your largest recurring expense.

Determining how much house you can afford

Follow the 28/36 percent rule to determine your housing affordability. This guideline suggests not spending more than 28 percent of your gross income on housing costs and not exceeding 36 percent on overall debt, including mortgages, credit cards, and loans. For example, if Joe earns $60,000 annually, his total monthly mortgage payment shouldn't exceed $1,400. While some loans allow a debt-to-income ratio of up to 50 percent, it's crucial to consider other living expenses. 

How to lower your monthly mortgage payment

To reduce your monthly mortgage payment, consider these options:

  • Choose a longer loan term for a lower payment, even though it means more interest over time.
  • Spend less on the home to decrease your mortgage amount.
  • Avoid PMI (Private Mortgage Insurance) with a down payment or 20% equity.
  • Shop for a lower interest rate, but be cautious of upfront costs.
  • Make a larger down payment to lower the loan amount.

DISCLAIMER: All information is deemed reliable but not guaranteed. Neither the mortgage company or website company shall be responsible for any typographical errors, misinformation, misprints and both shall be held totally harmless.  Information is subject to change without notice. This is not an offer for the extension of credit or a commitment to lend; all applicants must meet lender guidelines.

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 Zero Point Mortgage Services / NMLS# 1216108 /  MB# 0934728 / CA# 60DBO66276

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