Monthly Mortgage Payment

Calculate your monthly payment with applicable financial charges, PMI, hazard insurance, and property taxes.

Loan Information

Amount
$
Interest Rate
%
Length
years

Property Information

Home Value
$

Taxes And Insurance Information

Annual Taxes
Annual Insurance
Annual PMI

Monthly Principal & Interests $1,342.05
Monthly Real Estate Taxes $250.00
Monthly Insurance $125.00
Loan To Value Ratio 83.33%
Months With PMI 31
Monthly PMI $177.08
Total Monthly Payments $1,894.14

As you can see, your payment will vary depending on how much you will be borrowing, the interest rate, and the length of your loan. Other factors also need to be taken into consideration, such as your taxes, your insurance, and your PMI, all of which are included in your monthly house payment. Even the value of your home will affect your payment.

Just as an example, letís say you are borrowing $250,000.00 for 30 years with an interest rate of 5.000%. If the value of your home is $300,000.00, your property taxes $3,000.00 per year and your insurance is $1,500.00 per year, you can expect to be making a total payment of $1,894.14. This is because you need to pay $1,342.05 toward the actual loan, plus $250.00 for real estate taxes and $125.00 toward insurance.

Since your loan to value ratio is 83.33%, you will also have to pay PMI for 31 months and this will tack on an extra $177.08 a month. Don't forget to drop the PMI when the 31 months is complete and you might save yourself some money each month, but remember, that, in most cases, you will need to finish re-appraisal process to do so.

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.

We have many other Mortgage Calculators for you to use.

Make sure you register to receive my Free Homebuying Guide and Insider Mortgage Reports, browse my Resources section, fill-out a FREE No-Obligation Secure Online Loan Application, or call me in my Roseville, California office at 916 780-6400. I am here to help you with all your mortgage needs.

Sierra Pacific Mortgage
Office Hours: Monday through Friday 8:30am to 5:00pm
Mike McIntosh
NMLS#234196
1380 Lead Hill Boulevard
Suite 106
Roseville, California 95661
michael.mcintosh@sierrapacificmortgage.com
Toll Free: 888 232-9025
Phone: 916 780-6400
Fax: 916 780-6404
State License Information CA (Licensed in California by the Department of Business Oversight under the Residential Mortgage Lending Act #417-0015)
Company NMLS #1788
Sierra Pacific Mortgage Company, Inc. is not endorsing or guaranteeing the products, information, or recommendations provided by linked websites, and is not liable for any failure of products or services advertised on linked websites.
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