Mortgage Calculator
Calculate your monthly mortgage payments, amortization schedule, and affordability
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Mortgage Calculator
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Amount
$100,000.00
Loan Amount: $400,000.00
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Mortgage Types
🏠
Fixed Rate
Same interest rate for entire loan term
6.5%
📈
Adjustable Rate
Rate changes after initial fixed period
5.5%
💳
Interest Only
Pay only interest for initial period
7%
🏛️
FHA Loan
Government-insured, lower down payment
6%
🎖️
VA Loan
Veterans Affairs, no down payment
5.75%
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Calculation History
No calculation history yet
Mortgage Tips
Affordability Rules
- • 28% Rule: Housing ≤ 28% of gross monthly income
- • 36% Rule: Total debt ≤ 36% of gross monthly income
- • Down Payment: Aim for 20% to avoid PMI
Cost Considerations
- • Closing Costs: 2-5% of home price
- • Property Tax: Varies by location (0.5-2.5%)
- • Home Insurance: $100-$200/month
- • PMI: 0.5-1% annually if down payment <20%
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