Are You Wondering What Your Payments Will Be?

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MORTGAGE Calculator on table with Office Supplies. ipad

Our calculator below will calculate your mortgage payment, including principal & interest, taxes, and insurance. It also includes a monthly and yearly Amortization Schedule. There is NO Down Payment and NO Monthly PMI on VA Loans, so those fields are defaulted to $0. You can learn more about the features of our calculator at the end of this page. 

  • If you just want the Principal & Interest payment, enter 0 in the Property Tax, PMI & Property Insurance fields.
  • Principal & Interest includes the unpaid principal balance and the interest that accrued in the previous month.
  • Interest is paid in ARREARS, so April’s mortgage payment includes the principal payment for April and the interest that accrued during the 31 days in March.
  • The calculator asks for all annual assessments to provide you with an all inclusive monthly payment. The goal is to make sure you understand the recurring financial expenditures required to own the home.
  • The annual property insurance should include all insurance the lender requires, plus additional insurance you choose to purchase. This includes fire, flood and earthquake coverage. Add the annual premium for each type of coverage and place the total in that field.
  • VA loans require NO Monthly PMI (Private Mortgage Insurance) and NO Down Payment, so those fields are defaulted to $0.
  • In California, property tax rates can be found on the county tax assessor websites for each county. To calculate the annual taxes multiply the purchase price times the tax rate. For example, in San Diego County the tax rate is 1.25%, so if you’re buying a $500,000 home the annual property taxes would be $6,250 ($500,000 x .0125).
  • The calculator will give you the total monthly payment including Principal, Interest, Property Taxes, Hazard Insurance, and PMI or Private Mortgage Insurance (PMI is $0 on VA loans).
  • The Monthly Amortization Tab gives you a principal & interest breakdown for every month in the Amortization Period (30 years = 360 months). There is also an annual Amortization Schedule that breaks down the principal and interest paid each year in the Amortization Period.
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