Purchase price $: the amount you intend to pay for the property (contract price).
Down payment %: percentage of the purchase price. If you are purchasing a house for $200,000 and intend to put a down payment of $40,000, enter 20 for down payment.
Interest rate %: check with your lender to see what interest rate you qualify for.
Mortgage term (years): usually 15 or 30 but other options may be available.
Taxes and Insurance $: these numbers can vary from region to region and from home to home. Consult with your real estate agent or mortgage broker.

Estimate Monthly Payment


This includes principal + interest + taxes + insurance based upon the numbers you entered. Interest rates can vary based upon your credit and the amount of down payment. If your down payment is less than 20% of the sales price, you may have to pay Private Mortgage Insurance (PMI). Consult with your lender for details.