Results include escrow for taxes and insurance.
Mortgage payments are often referred to as PITI, an acronym for Principal, Interest, Taxes, and Insurance. Lenders look at this total amount to determine your debt-to-income ratio and whether you can afford the loan.
A larger down payment reduces your loan-to-value (LTV) ratio. If your down payment is less than 20% of the home's value, you may also be required to pay Private Mortgage Insurance (PMI), which adds to your monthly cost.
The Mortgage Calculator is a specialized financial tool designed to assist in accurate monetary planning. Whether you are budgeting, planning investments, or managing loans, precision is key. This calculator simplifies complex formulas into an easy-to-use interface, helping you make informed financial decisions.
Our tool processes your inputs using standard financial algorithms. By instantly computing the results, it allows you to compare different scenarios without the need for manual spreadsheets or errors.
Disclaimer: Financial results are estimates for planning purposes only. Please consult a qualified financial advisor for professional advice.