● Live OBMMI Data — Real Locked Rates
Mortgage Payment Calculator
See your true monthly payment — principal, interest, taxes, insurance & PMI. Pre-filled with today's actual locked rates from Optimal Blue.
Conventional
7.203%
Most common · 3–20% down
FHA
7.027%
Gov-backed · 3.5% min down
VA
6.870%
Veterans only · 0% down
USDA
7.031%
Rural areas · 0% down
Home Price & Down Payment
Home Price
$
Down Payment
(20%)
$
%
A 20% down payment lets you avoid PMI.
Loan Details
Interest Rate
%
Loan Term
yrs
Taxes & Insurance
Property Tax
/yr
$
Home Insurance
/yr
$
PMI Rate
annual % of loan
%
Typically 0.3–1.5%/yr. Removed when you reach 20% equity.
Affordability Check
Annual Household Income
$
Monthly Debt Payments
car, student loans, cards
$
Est. Monthly Payment
$2,745
per month, all in
Loan Amt
$320K
Principal & Interest
$2,175
Property Tax
$400
Home Insurance
$150
PMI
$0
Total / Month
$2,725
DTI: —
Principal vs. Interest Over Time
Principal
Interest
How Your Rate Stacks Up
Payments shown are principal & interest only. Based on your current loan amount and term.
How Much Can You Save With Extra Payments?
Extra Monthly Payment
$
✓ Here's what you'd save:
Years Saved
—
Interest Saved
—
Payoff Date
—
New Payment
—
What Home Can You Afford?
Annual Income
$
Monthly Debts
$
Down Payment Available
$
Estimated Max Home Price
$0
Mortgage Basics
Everything you need to know before you borrow.
What is PITI?
Your monthly mortgage payment has four parts:
P
rincipal,
I
nterest,
T
axes, and
I
nsurance. This calculator shows your full PITI payment, not just P&I.
What is PMI?
Private Mortgage Insurance protects the lender if you default. It's required on conventional loans with less than 20% down, typically 0.3–1.5%/yr. It's removed once you hit 20% equity.
15 vs. 30 Year
A 15-year loan builds equity faster and saves tens of thousands in interest, but your monthly payment is higher. A 30-year gives you breathing room. Use the rate comparison tab to see the difference.
Rate vs. APR
The interest rate is your cost to borrow. APR includes fees and gives a fuller picture. When comparing lenders, compare APR — not just the rate. A low rate with high fees can cost more overall.
Extra Payments
Adding even $100–$200/month to your payment can shave years off your loan and save tens of thousands in interest. Use the Extra Payments tab to see your exact savings.
Credit Score Impact
Your credit score is the single biggest factor in your rate. 760+ gets the best rates. 700–759 is solid. Below 680, expect to pay significantly more. Even a 0.5% rate difference costs thousands over 30 years.
Rates shown are sourced from Optimal Blue Mortgage Market Indices (OBMMI) and reflect national averages of actual locked loan data. Your rate will vary based on credit score, loan-to-value ratio, loan size, property type, and lender. This calculator is for educational purposes only and does not constitute financial advice. ©
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