Mortgage Payment Calculator

How much will your monthly mortgage payments be?

Use this mortgage calculator to estimate your monthly mortgage payments, including estimates for taxes, insurance, and PMI.

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Your monthly payment will be:

  • Monthly Payment
  • Principal & Interest:  
  • Property Taxes:  
  • Homeowner's Insurance:  
  • HOA dues:  
  • PMI:  

Mortgage Options

30 Years Fixed
eLEND (71)
APR
3.771%
Interest Rate
3.250%
Mo. Payment
$1,063
(855) 982-3216 Contact
eLEND
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $225,000
Lock Period 30 Days
Down Payment $25,000
Principal and Interest Payments $980
Estimated Mortgage Insurance Payments $83
Total Monthly Mortgage Payment $1,063
Lender Fees $3,494
Lender Credit $0
Total Closing Fees* $3,494
*Other 3rd party fees may apply
eLEND
Email Lender

About the Lender

eLEND provides residential mortgage financing directly to potential home buyers and existing homeowners through a robust online platform built to simplify the lending process. Our mortgage technology solutions help thousands of families every year achieve their home financing goals. We offer Conventional, FHA, VA, USDA, Jumbo, and Renovation financing programs with exceptional rates and service. A division of American Financial Resources, Inc., eLEND is backed by over 18 years of industry success. Our expert Mortgage Loan Originators will help connect you with the ideal financing solution to achieve your specific goals. Contact us today for a free rate quote or e-Approval.

Lender Reviews

Wade

After giving them papers directly from the IRS , after having to show divorce papers from 14yrs. Ago, having to get an itemized list of whom was filled on my bankruptcy, let's see what else phone numbers of ex employer from two years ago not the same year, personal reference?????please tell me how showing papers off an old divorce is when relevant? What about a bankruptcy that is 8yrs. Old, is it going to end it's been since December 3, 2015

By: Keri (Gibsonton, FL)

very rude

Stephen Pullen contacted us and he was extremely rude. He kept interrupting me and talking over me. Completely uninterested in what our needs were. We tried back in October to use them and no call backs. Very poor customer service

By: karen (Hinesville, GA)

good

Yes, I recommend this lender

Good

By: Arlen (Mukilteo, WA)
See All Reviews
Sebonic Financial (522)
APR
3.919%
Interest Rate
3.375%
Mo. Payment
$1,078
(866) 544-4064 Contact
Sebonic Financial
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $225,000
Lock Period 30 Days
Down Payment $25,000
Principal and Interest Payments $995
Estimated Mortgage Insurance Payments $83
Total Monthly Mortgage Payment $1,078
Lender Fees $4,118
Lender Credit $0
Total Closing Fees* $4,118
*Other 3rd party fees may apply
Sebonic Financial
Email Lender

About the Lender

Sebonic Financial is a division of Cardinal Financial Company, a full service mortgage banking firm in operation since 1987.  The company is an approved seller/servicer for Fannie Mae, Freddie Mac and Ginnie Mae. Cardinal is also an approved lending institution for the Department of Housing and Urban Development/Federal Housing Administration and the Department of Veteran Affairs/Veterans Administration with FHAs Direct Endorsement and VA Automatic Lender Authority.  Cardinal is an authorized lender for the USDA/Rural Housing Program, the Pennsylvania Housing Finance Agency and the New Jersey Mortgage Housing Finance Agency.

 

Cardinal is licensed by the Departments of Banking in many states, mainly in the eastern and southeastern United States.  Its retail and wholesale divisions originate first mortgage loans for qualified borrowers.

Lender Reviews

Sebonic was quick, inexpensive and easy

Yes, I recommend this lender

After receiving what I perceived as poor service at Quicken I walked away from them the week of the scheduled closing and went with Sebonic. As far as I am concerned it was a great decision as I closed quickly with a slightly better rate and lower closing costs. James Dawkins was assigned to push my loan through and he was very responsive and helpful. For the closing they sent a notary to my home and with a little help from James everything was done in about 45 minutes. This was probably about my 20th loan / refi and the first that was done almost entirely via the internet. The internet added a few twists to the process but overall it was painless.

By: Andrew (Pinehurst, NC)
See All Reviews
15 Years Fixed
eLEND (71)
APR
2.912%
Interest Rate
2.375%
Mo. Payment
$1,543
(855) 982-3216 Contact
eLEND
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $225,000
Lock Period 30 Days
Down Payment $25,000
Principal and Interest Payments $1,488
Estimated Mortgage Insurance Payments $55
Total Monthly Mortgage Payment $1,543
Lender Fees $3,876
Lender Credit $0
Total Closing Fees* $3,876
*Other 3rd party fees may apply
eLEND
Email Lender

About the Lender

eLEND provides residential mortgage financing directly to potential home buyers and existing homeowners through a robust online platform built to simplify the lending process. Our mortgage technology solutions help thousands of families every year achieve their home financing goals. We offer Conventional, FHA, VA, USDA, Jumbo, and Renovation financing programs with exceptional rates and service. A division of American Financial Resources, Inc., eLEND is backed by over 18 years of industry success. Our expert Mortgage Loan Originators will help connect you with the ideal financing solution to achieve your specific goals. Contact us today for a free rate quote or e-Approval.

Lender Reviews

Wade

After giving them papers directly from the IRS , after having to show divorce papers from 14yrs. Ago, having to get an itemized list of whom was filled on my bankruptcy, let's see what else phone numbers of ex employer from two years ago not the same year, personal reference?????please tell me how showing papers off an old divorce is when relevant? What about a bankruptcy that is 8yrs. Old, is it going to end it's been since December 3, 2015

By: Keri (Gibsonton, FL)

very rude

Stephen Pullen contacted us and he was extremely rude. He kept interrupting me and talking over me. Completely uninterested in what our needs were. We tried back in October to use them and no call backs. Very poor customer service

By: karen (Hinesville, GA)

good

Yes, I recommend this lender

Good

By: Arlen (Mukilteo, WA)
See All Reviews

Mortgage rate quotes displayed on LendingTree LoanExplorer℠, including loan pricing data, rates and fees, are provided by third party data providers including, but not limited to, Mortech®, a registered trademark of Zillow®, LoanXEngine, a product of Mortgage Builder Software, Inc., and LoanTek, Inc.

How To Use Mortgage Calculator

How much does that house cost? There are many ways to answer that question -- in terms of its actual price, its performance as an investment, the way it affects its owner's lifestyle -- all of these are valid ways of evaluating the cost of property. However, when many people ask how much a home costs, they're referring to its monthly payment. This mortgage calculator is designed to provide that information.

Mortgage Payment Calculator: PITI

"Mortgage payment" carries several meanings. To a consumer, it might mean the principal and interest that is remitted to a lender each month. To an underwriter, it means the principal, interest, property taxes and homeowners insurance (or HOA dues for condominium buyers, which usually covers insurance). This calculator provides an estimate of the PITI, so the user can see how a lender will evaluate their potential house payment when approving or declining a loan application.

Mortgage Loan Calculator: Basic Inputs

To get an easy and basic payment estimate, users only need to input the home's purchase price, the expected down payment and an interest rate (real-time interest rates based on the borrowers credit, location and loan-to-value can be found on the mortgage rate calculator, LendingTree's LoanExplorer), and they'll get an estimated house payment. The chart on the right side of the screen shows how the payment was calculated -- see the example below:

The property taxes, homeowner's insurance and mortgage insurance are all calculated automatically. But what if the user knows the taxes are different, or what if he or she has a quote for home insurance? The calculator can be fine-tuned.

Tuning the Mortgage Estimator for Better Results

By clicking on the link labeled Assumptions, a user can include exact amounts for insurance, HOA dues, or property tax rates, getting a more accurate amount -- the way mortgage underwriters do when they calculate applicants' debt-to-income ratios.

One of the most important assumptions is the loan term. Consumers can see how changing the term of the loan alters its payment, and they can see what they'd need to pay if they want to retire their mortgage early. For example, if a buyer would like to take a 30-year loan to keep the required monthly payment low, but really wants to pay the loan off in 20 years, he or she could enter 20 years in the term field -- that's the payment that would retire the mortgage in 20 years.

Checking the box labeled "Include Private Mortgage Insurance" causes the calculator to include a monthly amount if the down payment or home equity is less than 20 percent. Users should leave this unchecked if they, the lender or the seller are buying single premium coverage by paying a lump sum. Users can also play with different down payment amounts, seeing how they impact the cost of mortgage insurance. This amount is an estimate, however. In addition to the loan-to-value, mortgage insurers base their premiums on the applicant's credit rating, the property use and type-- and those parameters are not part of this calculator's inputs.

Mortgage Calculator Limitations

Mortgage calculators only return answers that are as good as the data they're "fed." That means they won't reflect parameters that are unknown to the users. For example, if a property has a special assessment, the cost won't be reflected in a calculator. If the loan is adjustable and has a rate that can change over time, the adjusted payments won't show up. If the borrower's inputting mortgage rates that are unavailable to applicants with his or her credit rating, the results won't be very helpful.

For this reason, it's best to use more than one tool. LoanExplorer, for example, lets a home buyer put in a location, down payment, credit rating, VA eligibility and other factors and it delivers a more accurate mortgage rate and payment -- with a breakdown of the loan costs and a monthly payment. Using that rate in this mortgage payment calculator delivers a more accurate result -- a "real" rate and payment with the addition of estimated taxes, insurance and mortgage insurance (if applicable).