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mortgage calculator
Estimate your monthly mortgage payment including principal, interest, property taxes, homeowners insurance, PMI, and HOA fees.
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Today’s Rate Snapshot
Updated: June, 12 2026
Pro Tip: Need help reading the results? Your payment is usually made up of principal, interest, taxes, insurance, and sometimes PMI or HOA fees.
The portion of your payment that reduces your mortgage balance.
The cost of borrowing money from your lender.
Annual taxes charged by your local municipality.
Protects your property from covered losses and damage.
Usually required when putting less than 20% down.
Monthly association fees required by some neighborhoods.
Enter a few basic numbers to estimate your monthly payment. Here’s what each input means.
Enter the purchase price of the property you’re considering.
This is the amount you plan to pay upfront. Some programs allow as little as 0% to 3.5% down.
Use an estimated rate or check today’s mortgage rates to get a more realistic payment.
Most buyers choose a 30-year fixed mortgage, but shorter terms may lower total interest.
Property taxes and homeowners insurance can significantly impact your total monthly payment.
PMI may apply with less than 20% down, and HOA fees depend on the property or community.
The home price is the amount you’re looking to pay for the home—it’s basically the sticker price.
While the home price sets the stage, it’s not just about how much you’re willing to fork out from your piggy bank. Factors like the local housing market trends, the home’s condition, and even negotiations can sway this number.
Most mortgage programs require a down payment in order to secure financing.
The down payment is the upfront cash required by the mortgage program or the lender and it’s expressed as a percentage of the home’s purchase price. The size of your down payment can significantly influence your mortgage terms and how much you’ll need to borrow
Tip: You will get a better interest rate if you put a bigger down payment on a conventional loan.
The interest rate is a key factor in determining your mortgage payments. It represents the annual percentage of the loan amount that you will be charged for borrowing the money. The higher the interest rate, the more you will have to pay back over time.
The best interest rates are reserved for those who typically put a larger down payment or have the highest credit scores. We provide up-to-date national average interest rates and you can access them by clicking this link.
The term refers to the length of time that you will have to pay back the loan. Most mortgage loans have a 30-year term, meaning you’ll make payments for 30 years until the principal balance is fully paid off.
However, there are also shorter terms available from 25 years all the way to 10. In fact, at Andes Mortgage, we can do odd terms as well. Although taking a shorter term can give you significant interest savings, they may result in higher monthly payments.
Every buyer’s situation is different. Explore common loan scenarios and see which option may fit your goals.
3% to 5% down payment – PMI may be required.
Learn More →
The biggest mistakes buyers make when calculating payments is by underestimating interest rates, property taxes and insurance.
Marcos Zambrano
President, Andes Mortgage LLC
14+ years of experience
5-star ratings on Google
Thousands of families helped
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