monthly payment calculator

Mortgage Payment Breakdown

Understand What You’re Paying For.

When you use our mortgage calculator, you’ll see a detailed breakdown of your estimated monthly payment.

  • Principal: This is the amount you’re borrowing and is paid down over the life of the loan.
  • Interest: This is the cost you pay the lender for borrowing the money.
  • Property Taxes: Homeowners must pay taxes based on the value of their property.
  • Homeowners Insurance: Protects your home from damage and disasters.
  • Private Mortgage Insurance (PMI): Required if your down payment is less than 20%.

Having this breakdown helps you make an informed decision about your mortgage and plan accordingly.

 

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