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Mortgage Calculator

While you may have a clear picture of your dream house, understanding what you can afford may be foggy. That’s why we have a mortgage calculator available. It’s a fast and easy way to calculate your home-purchasing budget in just seconds.

Purchase price
Please enter here the amount you expect to pay for a home.
Enter a value
Down payment
Down payment is cash that you pay upfront for your home.
10.0%
Enter a value
Term in years
Number of years you have to pay.
years
Enter a value
Interest rate (per year)
The percentage of interest that you will pay on your mortgage for a specific term.
%
Enter a value
Property tax
Enter your property tax here if you know it.
per year
Enter a value
Home insurance
Most lenders require home insurance. Enter its price here.
per year
Enter a value
PMI
PMI is Private Mortgage Insurance which is usually required to pay if your Down payment less than 20%.
per month
Enter a value

Your total monthly payment


$

Principal & Interest
$
Home insurance
$
Property taxes
$
PMI
$

It’s imperative to have a financial plan before you start house hunting. Too many homeowners have struggled with serious debt—and even foreclosure—because they bought a home they loved but couldn’t afford. Our mortgage payment calculator will help define your budget.

Once you’ve used our handy mortgage calculator, you may have a few questions about where to go from here. Below are some guidelines to help you stay within budget:

  1. Get pre-qualified for a mortgage before you look at homes. Your mortgage options will give you a clear picture of what you can and can’t afford.
  2. Don’t look at houses that are above your budget; it’s too tempting.
  3. Don’t allow realtors to talk you into raising your budget. You’ve set it so you can be in the best financial situation possible; make sure you stick to it.

Apply for a Mortgage Now!

If you haven’t scheduled a meeting with one of our loan officers yet, apply now to get started. We’ll guide you through the mortgage process and help you apply for the best loan. If you already own a house and would like to refinance, we can help you with that, as well. Contact us at (317) 564-4906 with any questions. In addition to a home loan calculator, we have other useful resources, such as a glossary of terms and FAQs list.