Note 1: PMI (private mortgage insurance) rates can range from 0.2% to over 5%. Currently, our lender charges 1% or less. Since we have no knowledge of your particular financial circumstances, computing your expected PMI rate is beyond the scope of our calculator. Obtain this rate from your lender and simple add it to your interest rate to approximate your monthly loan payment. Of course, you can avoid this cost entirely by putting 20% down.

Note 2: This calculator is designed to estimate mortgage payments. However, many other factors must be considered in order to estimate how much loan you can afford to carry. Among them are current interest rates, the amount and stability of your annual income, your credit rating and your debt to income ratio. Of course, the best way to get an accurate picture of the loan amount you can qualify for is to get pre-approved for a loan. Click here to request to be connected with a mortgage professional who can help!

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