Mortgage Estimator
| Description | Amount |
|---|---|
| Amount you are Borrowing (include closing costs if you are not paying those): $ | |
| Down Payment: $ | |
| Percentage Rate: | |
| Length of Loan |
You have errors above which require you to fix. If you see a input box with missing information; you must add in a value greater than zero (0) to continue!
Mortgage Payment Review
Note: These Mortgage calculations were last updated on 2/2/2025 @ 1:34 PM CDT
The monthly payment which includes both principal and interest will be (**does not include Escrow for Insurance + Property Taxes or PMI if downpayment is less than 20%):
The total cost of the home for the life of the loan will be:
The total interest of the home over the life of the loan if not paid off early will be:
The total percentage of interest on the life of the loan is:
The total estimated tax and insurance are each estimated at 2% of the listing price of the house (or the price the house sold for) and will both total this much per month
The total estimated monthly payment of Principal, Interest, Home Insurance, and Taxes will be (PMI not included):
*************Private Mortage Insurance would average 1.5% on the loan annually and would only stop after you have paid at least 20% of the listing value in PMI. This cost would average at this much per month:
Total monthly cost of the house with PMI (if you don't put 20% down) would be:
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**The above number is an estimation and should only be used as a reference point. Questions regarding the amounts you owe on your mortgage, interest rates, and early payoff should always be confirmed by your mortgage company or bank to determine accurate numbers. Workforce 2080 provides these estimations to assist home buyers or home owners to determine a rough estimation of what their payments *could* be. These estimations should not be construed as implict or explicit guarantees in any way. Many factors come into play, such as rounding of figures, amortization schedules and errors in the submission through this portal etc. Workforce 2080 assumes no risk with these estimations and provides these tools to help educate the general population. All users who use these products and estimators outside of their intended use assume risk when used outside of the scope of educational and general knowledge.
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