How to Use This Calculator

1. Enter the home price or loan amount
2. Input your down payment amount
3. Set your interest rate (annual percentage)
4. Choose your loan term (typically 15 or 30 years)
5. Add estimated property tax and insurance
6. Include PMI if your down payment is less than 20%
7. Add HOA fees if applicable

Understanding Your Results

• • Monthly Payment: Total amount due each month including all costs
• • Principal & Interest: Amount going toward loan payoff and interest
• • Total Interest: Total interest paid over the life of the loan

Tips for Lower Payments

• • Increase your down payment to reduce loan amount
• • Shop for better interest rates
• • Consider a 15-year loan to save on total interest
• • Avoid PMI with 20% down payment