Mortgage Rate Calculator

Your details

The purchase price or appraised value of the property.
The cash amount you pay upfront. 20% or more avoids PMI.
The number of years to repay the loan. Shorter terms mean higher payments but less total interest.
The nominal annual interest rate quoted by the lender, before fees.
%
Fixed-rate locks your rate for the life of the loan. ARMs are fixed for an initial period then adjust annually.
Discount points paid upfront to lower the rate. Each point = 1% of the loan amount.
%
Origination fees, appraisal, title, and other closing costs rolled into the APR calculation.
Annual property tax amount. Typically 1-1.5% of home value per year in the US.
Annual homeowners insurance premium. Typically 0.25-0.5% of home value per year.
Private mortgage insurance rate (annual % of loan). Required when down payment is under 20%. Set to 0 if not applicable.
%
Monthly homeowners association fee, if applicable.
Currency
Monthly payment (P&I)Conventional (20%+)
$2,075.51

Principal and interest only, before taxes and insurance

Monthly PITI total$2,600.51
Loan amount$320,000.00
APR6.75%
Total interest paid$427,185.01
Total loan cost$747,185.01
Down payment20%
Loan amount$320,000.00
Total interest$427,185.01

Your principal and interest payment is 2075.51 per month at 6.75% over 30 years.

  • Over 30 years you will pay 1.33x the loan amount in interest, totaling 427.2k.
  • Taxes, insurance, PMI, and HOA add about 525 per month on top of the P&I payment, bringing your total monthly housing cost to 2601.

Next stepCompare 15-year vs 30-year terms: a shorter term dramatically cuts total interest at the cost of a higher monthly payment.

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