Question 1

How accurate is this mortgage calculator?

Accepted Answer

This calculator provides estimates based on standard mortgage amortization formulas. Actual payments may vary depending on lender fees, taxes, insurance, PMI, and loan terms.

Question 2

Does this calculator include property taxes and insurance?

Accepted Answer

Yes. You can include estimated property taxes, homeowners insurance, and PMI (if applicable) to calculate a more realistic total monthly payment.

Question 3

When does PMI apply?

Accepted Answer

PMI typically applies when your down payment is less than 20% of the home’s purchase price. Once sufficient equity is reached, PMI may be removed depending on lender rules.

Question 4

What interest rate should I use?

Accepted Answer

Use the interest rate offered by a lender or an estimated rate based on current market conditions and your credit profile.

Mortgage Calculator

Estimate Your Mortgage Payments