mortgage calculators

Mortgage Calculators

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Mortgage Calculators

When entering your numbers, please do not include any symbols. (i.e., dollar sign ($), decimal (.), or comma (,).

This calculator compares your income to monthly debt, factors in what you can offer for a down payment, and then tells you what price of house you might be able to afford.

This calculator breaks down a mortgage payment, so you can see what parts of your payment go toward principal, taxes, insurance, etc.

Purchase Budget

Monthly Payments

ANNUAL INCOME

Enter your gross annual income (before taxes and deductions). Include all income sources.

Annual Income

MONTHLY DEBT

Enter the minimum amount you pay each month to keep ongoing debt in good standing. Include student loans, car loans, credit cards, and child support. Do not include utilities, insurance, or housing expenses.

Monthly Debt

DOWN PAYMENT

A down payment is a cash deposit towards the purchase of a home. Enter the dollar amount (if any) you have available for a down payment.

Down Payment

INTEREST RATE

Enter the interest rate you think you'll be able to get. Typically, borrowers with solid credit histories get the best available rate. If you aren't sure, don't change this value.

Interest Rate

LOAN LENGTH

Enter the loan term you desire, in years. Generally, mortgage loans have a 15 or 30 year term.

Loan Term (Years)

PURCHASE BUDGET

This is the estimated maximum value of the home you would be able to purchase.

Purchase Budget

LOAN AMOUNT

This is the estimated maximum value of the loan you would qualify for.

Loan Amount

DOWN PAYMENT PERCENTAGE

Your down payment percentage is used to calculate PMI.

Down Payment %

LOAN TO VALUE PERCENTAGE

This is the percentage of the loan to the value of the house.

Loan To Value %

MONTHLY PAYMENT

This is your estimated total monthly payment.

Monthly Payment

MONTHLY PRINCIPAL AND INTEREST

This is the estimated principal and interest portion of the total monthly payment.

Principal and Interest

MONTHLY TAXES AND INSURANCE

This is the estimated property tax and hazard insurance portion of the total monthly payment.

Property Tax and Insurance

MONTHLY MORTGAGE INSURANCE

This is the estimated Mortgage Insurance (MI) portion of the total monthly payment. Mortgage Insurance paid by the borrower to protect the lender in the event of foreclosure. The more money you have to put down, the lower your MI.

Mortgage Insurance

LOAN AMOUNT

Enter the amount of the loan you will need.

Loan Amount

LOAN LENGTH

Enter the length of the loan in years. Generally, mortgage loans have a 15 or 30 year term.

Loan Term (Years)

INTEREST RATE

Enter the anticipated interest rate on the loan.

Interest Rate

PRINCIPAL & INTEREST

This is the estimated monthly principal and interest payment on the above loan amount.

Principal and Interest

PROPERTY TAXES

This is the estimated monthly property taxes. This is based on 1% of the loan amount.

Property Taxes

INSURANCE

This is the estimated monthly hazard insurance payment. This is based on 0.5% of the loan amount.

Insurance

TOTAL PAYMENT

This is your estimated total monthly payment.

Total Payment

Disclaimer

Please Note: The information provided by these calculators is intended for illustrative purposes only. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult with your CHFA Participating Lender prior to relying on the results.