Before you fall in love with a home — or start a conversation with a real estate agent — you need to know your number. Not a rough guess. Your actual monthly payment, based on real purchase price, down payment, and current rates.
This calculator gives you a solid starting point. Enter the home price, your down payment, the interest rate, and how long you want the loan. It’ll show you what your monthly payment looks like at different scenarios so you can shop with confidence and avoid surprises at closing.
What this calculator doesn’t include
Your actual housing payment will also include property taxes, homeowner’s insurance, and possibly mortgage insurance (PMI) if your down payment is under 20%. These typically add $300–$700/month depending on the home and location. When we talk through your numbers together, I’ll factor all of this in so you have the full picture.
What affects your actual rate?
The interest rate you actually get depends on several factors — and small differences in rate have a big impact on your payment. Here’s what matters most:
- Credit score — Higher score = lower rate. A 760 vs 680 score can mean 0.5–1.0% difference.
- Down payment — 20%+ gets you the best pricing