Monthly Mortgage Payment

Calculate your monthly payment with applicable financial charges, PMI, hazard insurance, and property taxes.

Loan Information

Amount
$
Interest Rate
%
Length
years

Property Information

Home Value
$

Taxes And Insurance Information

Annual Taxes
Annual Insurance
Annual PMI

Monthly Principal & Interests $1,342.05
Monthly Real Estate Taxes $250.00
Monthly Insurance $125.00
Loan To Value Ratio 83.33%
Months With PMI 31
Monthly PMI $177.08
Total Monthly Payments $1,894.14

As you can see, your payment will vary depending on how much you will be borrowing, the interest rate, and the length of your loan. Other factors also need to be taken into consideration, such as your taxes, your insurance, and your PMI, all of which are included in your monthly house payment. Even the value of your home will affect your payment.

Just as an example, letís say you are borrowing $250,000.00 for 30 years with an interest rate of 5.000%. If the value of your home is $300,000.00, your property taxes $3,000.00 per year and your insurance is $1,500.00 per year, you can expect to be making a total payment of $1,894.14. This is because you need to pay $1,342.05 toward the actual loan, plus $250.00 for real estate taxes and $125.00 toward insurance.

Since your loan to value ratio is 83.33%, you will also have to pay PMI for 31 months and this will tack on an extra $177.08 a month. Don't forget to drop the PMI when the 31 months is complete and you might save yourself some money each month, but remember, that, in most cases, you will need to finish re-appraisal process to do so.

DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or it's applicability to your financial situation. Please consult your own financial advisor.

We have many other Mortgage Calculators for you to use.

Make sure you register to receive my Free Homebuying Guide and Insider Mortgage Reports, browse my Resources section, fill-out a FREE No-Obligation Secure Online Loan Application, or call me in my Irvine, California office at 310.694.3544. I am here to help you with all your mortgage needs.


American Pacific Mortgage


Mike Bjork
Sr. Mortgage Planner
Corp NMLS #1850 | Originator NMLS #275652

Phone: 310.694.3544
Cell: 310.923.1884
Fax: 800.986.3155
Email: mike@mikebjork.com


100 Spectrum Center Drive, Suite 460 Irvine California, 92618


NMLS CONSUMER ACCESS LINK: NMLS #1850

Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act

© 2015 American Pacific Mortgage Corporation. All information contained herein is for informational purposes only and, while every effort has been made to insure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply. Equal Housing Opportunity.

The views, articles, postings, and information listed at this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation.


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