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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Mortgage Options

30 Years Fixed
First Internet Bank (13)
APR
3.990%
Interest Rate
3.000%
Mo. Payment
$1,100
(855) 637-1962 Contact
First Internet Bank
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 $949
Estimated Mortgage Insurance Payments $151
Total Monthly Mortgage Payment $1,100
Lender Fees $7,491
Lender Credit $0
Total Closing Fees* $7,491
*Other 3rd party fees may apply
First Internet Bank
Email Lender

About the Lender

At First Internet Bank, we focus on helping our customers achieve their dreams of homeownership. We know that it is more than a house to you; it is where you raise your families, make lasting memories and build financial security. And we know that your family and home is unique and special, so we treat each and every application individually.
1. Your home loan experience – better, faster, easier – Our team has helped thousands of people like you afford the home of their dreams. You can rely on our deep knowledge and experience because our loan officers are seasoned professionals. They’re not sales people; they are “skilled mortgage advisors.” We take the time to explain each step to you – forms, paper work, the home appraisal and the final closing. First IB is there for you and will guide, support and advise you every step of the way.
2. Great rates and low fees – We know that once you find that perfect home in that perfect neighborhood, you’ll need a mortgage partner to help you design the perfect payment plan. First IB consistently delivers competitive mortgage rates to home owners across the nation. And unlike some lenders, we won’t just show you “some” of the fees, we show you everything. Put us to the test!

Lender Reviews

Higly recommended

Yes, I recommend this lender

They are very professional, and respond fast to my questions. Great rate and fee. Save me a lot on mortgage.

By: Ying (Wilmington, NC)

Quick Responders

Yes, I recommend this lender

Greg and his team were always quick to respond to my requests and answered every question with accuracy. Refinancing my home via email and online was easier than the times I've done it in person.

By: JJ (Eagle Mountain, UT)

Simply a great lender

Yes, I recommend this lender

Great folks to work with. They got me the best rate and did not waste my time. Very efficient and professional. Michael McCarthy was a real pleasure to deal with, and the rest of the team as well.

By: Phil (Lawrenceville, GA)
See All Reviews
Consumer Direct Mortgage, a division of FirstBank (32)
APR
3.725%
Interest Rate
3.250%
Mo. Payment
$1,057
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
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 $77
Total Monthly Mortgage Payment $1,057
Lender Fees $2,991
Lender Credit $0
Total Closing Fees* $2,991
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention. You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Lender Reviews

Timely and professional

Yes, I recommend this lender

The process with Consumer Direct was pleasant and timely. Everything was laid out well and they had the best rate available for a 20 year refi. We are very happy with the outcome and would recommend them highly.

By: Stephanie (Post Falls, ID)

A Pleasant Experience

Yes, I recommend this lender

Although I'd initially dreaded the refinancing process and all that goes along with it (mainly gathering and submitting paperwork), I quickly found that Patrick Moore and his team are on top of the process. All my questions were timely answered, and submitting requested documents was super-easy via their online portal. Turns out, it was a pain-free, pleasant experience! I'll refer friends and family to Patrick and his team -- for sure.

By: Donna (Atlanta, GA)

excellent

Yes, I recommend this lender

Wonderful experience. Very impressed on how responsive Gigi and all staff was to help me. Thank you so much.

By: Anne (Norwalk, CT)
See All Reviews
eRates Mortgage (15)
APR
3.729%
Interest Rate
3.250%
Mo. Payment
$1,057
(844) 334-6118 Contact
eRates Mortgage
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $225,000
Lock Period 45 Days
Down Payment $25,000
Principal and Interest Payments $980
Estimated Mortgage Insurance Payments $77
Total Monthly Mortgage Payment $1,057
Lender Fees $3,094
Lender Credit $0
Total Closing Fees* $3,094
*Other 3rd party fees may apply
eRates Mortgage
Email Lender

About the Lender

eRates Mortgage is a Direct Lender that has been delivering superior rates and exceptional customer services for over twenty years.  We have simplified mortgage shopping to make the process easy, transparent and hassle free.  By operating completely online, we pass our cost savings on to you, the consumer.  Contact us today for your free, no obligation rate quote.

Lender Reviews

Huge Disappointment

Loan Officer was full of empty promises that sound fantastic. But where the rubber met the road they failed to execute. U/W asked for docs they didn't need, then asked for others 3x (no one knew why). Loan processor would send e-mails when we'd call for clarification (NEVER EVER called us back). The loan docs were late and wrong, cost us days - yes days - to fix it at our expense - think running around getting docs re-notarized, then Fedex'd, then, sent to find another error. When we approached management, we were assured it would be fixed the same day (we called at 10:30AM N Carolina) and it wasn't fixed. We were over 21 days late in closing/funding/recording. No one called to say, "wow - we really blew it - how can we make it up to you." I'd suggest you get an attorney and have them review everything and put cost protections in for your family or go to another company. I really wish I had used another company - the pain and aggravation are not worth whatever they offer you. It was too good to be true.

By: Mike (Palm Desert, CA)

They left us hanging on the day of closing

The Mortgage Originator was very approachable, and provided timely updates. No issues with him. The Sr Loan Processor was pretty good too, until the very last day of Closing. On the day of closing, the attorney office, and I, were waiting for the loan documents to be sent to the attorney, when she went quiet. No updates, no reply to phone calls - nothing. They left me hanging! The buyer was getting agitated, the attorney office could not extent their Closing time...we took a lot of heat from every direction - on top of the fact that we were not sure if something went with the loan. This happened on a Friday. And come Monday - still no updates on why the original Closing date was NOT honored - just our signature to extend the dates in the contract, and the documents were sent to attorney. Very very unprofessional of them to not keep me updated. I WILL NOT recommend them to a friend. The whole experience left a bitter taste at the end.

By: Anonymous (Cary, NC)

Best offer and superior services

Yes, I recommend this lender

I recently closed on a home purchase with eRates. I am still surprised by the rate and quality of service I received from the eRates. I initially started a loan application with another internet bank and was happy with the service I received from the mortgage banker. However, the APR stated in the true faith estimate was not consistent with what was initially discussed so I decided to switch banks. I started my loan application with Trevor with less than four weeks left prior to closing. My friends, real estate agent and even my attorney doubted that there is enough time to complete the mortgage process and advised me to push the closing date. When I spoke with Trevor Banville, he assured me that the process usually takes three weeks and I should be able to close without any problem. Amazingly, I got the credit approval from underwriter a day shy of one week with appraisal contingency. Once the appraisal was received, they were able to provide me with loan commitment letter within 24 hours. I am truly grateful to eRates, particularly Trevor and Linh Nguyen. I can’t say enough about the quality of service I received from Linh. Linh was always a phone call or an email away. He was swift with his responses no matter how late I emailed him. There was no question in my mind that Linh was my advocate. It was clearly evident that Linh knew the mortgage underwriting process well. He helped me gather all the necessary documents prior to submitting for underwriting. As such, there was very limited follow-up from the underwriter. I strongly recommend eRates. I am glad I did not pay close attention to the negative reviews and went with my intuition. Obviously, responsibilities do not rest with the mortgage company alone. As an applicant, you must stay on top of all the requests to make the process smooth. You can’t expect great service if you are not playing your part. By the way, not only did I receive superior services but I got great rate. When I mentioned the detail of the rate offer to the other mortgage companies I contacted, they were surprised about the deal and were not able to match the offer. Thank you Trevor, Linh and all the eRates personnel that made my dream a reality! I look forward to working with you in the future.

By: Abiscoa (Marlboro, NJ)
See All Reviews
15 Years Fixed
eRates Mortgage (15)
APR
2.871%
Interest Rate
2.500%
Mo. Payment
$1,541
(844) 334-6118 Contact
eRates Mortgage
Email Lender

Offer Details

Home Value $250,000
Requested Loan Amount $225,000
Lock Period 45 Days
Down Payment $25,000
Principal and Interest Payments $1,501
Estimated Mortgage Insurance Payments $40
Total Monthly Mortgage Payment $1,541
Lender Fees $2,532
Lender Credit $0
Total Closing Fees* $2,532
*Other 3rd party fees may apply
eRates Mortgage
Email Lender

About the Lender

eRates Mortgage is a Direct Lender that has been delivering superior rates and exceptional customer services for over twenty years.  We have simplified mortgage shopping to make the process easy, transparent and hassle free.  By operating completely online, we pass our cost savings on to you, the consumer.  Contact us today for your free, no obligation rate quote.

Lender Reviews

Huge Disappointment

Loan Officer was full of empty promises that sound fantastic. But where the rubber met the road they failed to execute. U/W asked for docs they didn't need, then asked for others 3x (no one knew why). Loan processor would send e-mails when we'd call for clarification (NEVER EVER called us back). The loan docs were late and wrong, cost us days - yes days - to fix it at our expense - think running around getting docs re-notarized, then Fedex'd, then, sent to find another error. When we approached management, we were assured it would be fixed the same day (we called at 10:30AM N Carolina) and it wasn't fixed. We were over 21 days late in closing/funding/recording. No one called to say, "wow - we really blew it - how can we make it up to you." I'd suggest you get an attorney and have them review everything and put cost protections in for your family or go to another company. I really wish I had used another company - the pain and aggravation are not worth whatever they offer you. It was too good to be true.

By: Mike (Palm Desert, CA)

They left us hanging on the day of closing

The Mortgage Originator was very approachable, and provided timely updates. No issues with him. The Sr Loan Processor was pretty good too, until the very last day of Closing. On the day of closing, the attorney office, and I, were waiting for the loan documents to be sent to the attorney, when she went quiet. No updates, no reply to phone calls - nothing. They left me hanging! The buyer was getting agitated, the attorney office could not extent their Closing time...we took a lot of heat from every direction - on top of the fact that we were not sure if something went with the loan. This happened on a Friday. And come Monday - still no updates on why the original Closing date was NOT honored - just our signature to extend the dates in the contract, and the documents were sent to attorney. Very very unprofessional of them to not keep me updated. I WILL NOT recommend them to a friend. The whole experience left a bitter taste at the end.

By: Anonymous (Cary, NC)

Best offer and superior services

Yes, I recommend this lender

I recently closed on a home purchase with eRates. I am still surprised by the rate and quality of service I received from the eRates. I initially started a loan application with another internet bank and was happy with the service I received from the mortgage banker. However, the APR stated in the true faith estimate was not consistent with what was initially discussed so I decided to switch banks. I started my loan application with Trevor with less than four weeks left prior to closing. My friends, real estate agent and even my attorney doubted that there is enough time to complete the mortgage process and advised me to push the closing date. When I spoke with Trevor Banville, he assured me that the process usually takes three weeks and I should be able to close without any problem. Amazingly, I got the credit approval from underwriter a day shy of one week with appraisal contingency. Once the appraisal was received, they were able to provide me with loan commitment letter within 24 hours. I am truly grateful to eRates, particularly Trevor and Linh Nguyen. I can’t say enough about the quality of service I received from Linh. Linh was always a phone call or an email away. He was swift with his responses no matter how late I emailed him. There was no question in my mind that Linh was my advocate. It was clearly evident that Linh knew the mortgage underwriting process well. He helped me gather all the necessary documents prior to submitting for underwriting. As such, there was very limited follow-up from the underwriter. I strongly recommend eRates. I am glad I did not pay close attention to the negative reviews and went with my intuition. Obviously, responsibilities do not rest with the mortgage company alone. As an applicant, you must stay on top of all the requests to make the process smooth. You can’t expect great service if you are not playing your part. By the way, not only did I receive superior services but I got great rate. When I mentioned the detail of the rate offer to the other mortgage companies I contacted, they were surprised about the deal and were not able to match the offer. Thank you Trevor, Linh and all the eRates personnel that made my dream a reality! I look forward to working with you in the future.

By: Abiscoa (Marlboro, NJ)
See All Reviews
Consumer Direct Mortgage, a division of FirstBank (32)
APR
2.924%
Interest Rate
2.500%
Mo. Payment
$1,541
(855) 997-1825 Contact
Consumer Direct Mortgage, a division of FirstBank
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 $1,501
Estimated Mortgage Insurance Payments $40
Total Monthly Mortgage Payment $1,541
Lender Fees $3,366
Lender Credit $0
Total Closing Fees* $3,366
*Other 3rd party fees may apply
Consumer Direct Mortgage, a division of FirstBank
Email Lender

About the Lender

At Consumer Direct Mortgage, we know that each customer has specific needs, so we strive to meet those specific needs with a wide array of products, investment tools, mortgages and best of all quality service and individual attention. You are our priority and we know that superior service, delivering what was offered, coupled with the lowest overall cost is the way to keep you as a customer for life. In a lending environment where everyone is offering the same core products and programs, we know that we have to separate ourselves with an unwavering commitment to services and delivering the lowest overall total cost to close every day. Our sales and operations team is comprised of veteran Mortgage Professionals that are committed to this philosophy and understand what it takes to get the job done on time and at the agreed upon terms and conditions presented.
Consumer Direct Mortgage, a division of FirstBank
Email Lender

Lender Reviews

Timely and professional

Yes, I recommend this lender

The process with Consumer Direct was pleasant and timely. Everything was laid out well and they had the best rate available for a 20 year refi. We are very happy with the outcome and would recommend them highly.

By: Stephanie (Post Falls, ID)

A Pleasant Experience

Yes, I recommend this lender

Although I'd initially dreaded the refinancing process and all that goes along with it (mainly gathering and submitting paperwork), I quickly found that Patrick Moore and his team are on top of the process. All my questions were timely answered, and submitting requested documents was super-easy via their online portal. Turns out, it was a pain-free, pleasant experience! I'll refer friends and family to Patrick and his team -- for sure.

By: Donna (Atlanta, GA)

excellent

Yes, I recommend this lender

Wonderful experience. Very impressed on how responsive Gigi and all staff was to help me. Thank you so much.

By: Anne (Norwalk, CT)
See All Reviews
First Internet Bank (13)
APR
2.940%
Interest Rate
2.500%
Mo. Payment
$1,541
(855) 637-1962 Contact
First Internet Bank
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 $1,501
Estimated Mortgage Insurance Payments $40
Total Monthly Mortgage Payment $1,541
Lender Fees $3,608
Lender Credit $0
Total Closing Fees* $3,608
*Other 3rd party fees may apply
First Internet Bank
Email Lender

About the Lender

At First Internet Bank, we focus on helping our customers achieve their dreams of homeownership. We know that it is more than a house to you; it is where you raise your families, make lasting memories and build financial security. And we know that your family and home is unique and special, so we treat each and every application individually.
1. Your home loan experience – better, faster, easier – Our team has helped thousands of people like you afford the home of their dreams. You can rely on our deep knowledge and experience because our loan officers are seasoned professionals. They’re not sales people; they are “skilled mortgage advisors.” We take the time to explain each step to you – forms, paper work, the home appraisal and the final closing. First IB is there for you and will guide, support and advise you every step of the way.
2. Great rates and low fees – We know that once you find that perfect home in that perfect neighborhood, you’ll need a mortgage partner to help you design the perfect payment plan. First IB consistently delivers competitive mortgage rates to home owners across the nation. And unlike some lenders, we won’t just show you “some” of the fees, we show you everything. Put us to the test!

Lender Reviews

Higly recommended

Yes, I recommend this lender

They are very professional, and respond fast to my questions. Great rate and fee. Save me a lot on mortgage.

By: Ying (Wilmington, NC)

Quick Responders

Yes, I recommend this lender

Greg and his team were always quick to respond to my requests and answered every question with accuracy. Refinancing my home via email and online was easier than the times I've done it in person.

By: JJ (Eagle Mountain, UT)

Simply a great lender

Yes, I recommend this lender

Great folks to work with. They got me the best rate and did not waste my time. Very efficient and professional. Michael McCarthy was a real pleasure to deal with, and the rest of the team as well.

By: Phil (Lawrenceville, GA)
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).