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Digital Banking

Mortgage Calculator

Calculate your monthly mortgage payments, see amortization schedules, and understand the true cost of homeownership.

Calculate Now
$
$400,000
$
%
20% ($80,000)
%
3.5%
Estimated Monthly Payment
$1,437
Principal & Interest
Payment Breakdown
Principal & Interest $1,437
Property Taxes $333
Home Insurance $100
PMI (0.5%) $133
Total Monthly Payment $2,003
Loan Summary
Loan Amount $320,000
Total Interest Paid $197,443
Total of 360 Payments $517,443
Pay-off Date April 2054

Refinance Calculator Coming Soon

Calculate potential savings from refinancing your mortgage.

Home Affordability Calculator Coming Soon

Determine how much house you can afford based on your income and expenses.

Mortgage Tips & Insights

Smart strategies for home financing

Save on Interest

Making one extra mortgage payment per year can shorten a 30-year mortgage by 7 years and save thousands in interest.

20% Down Payment

Putting 20% down avoids Private Mortgage Insurance (PMI), saving you hundreds per month.

Credit Score Matters

A credit score increase from 650 to 700 could save you 0.5% on your interest rate, saving $50,000+ over 30 years.

Compare Different Loan Terms

See how different terms affect your payments

Loan Term Interest Rate Monthly Payment Total Interest Total Paid
15 Years 3.0% $2,210 $77,869 $397,869
30 Years 3.5% $1,437 $197,443 $517,443
30 Years 4.0% $1,528 $230,088 $550,088
Insight: A 0.5% lower interest rate on a $320,000 loan saves approximately $32,000 in interest over 30 years.

Frequently Asked Questions

Private Mortgage Insurance (PMI) is required when your down payment is less than 20%. It protects the lender if you default on the loan. PMI typically costs 0.5% to 1% of the loan amount annually.

Mortgage points (discount points) allow you to pay upfront to lower your interest rate. Each point typically costs 1% of your loan amount and lowers your rate by 0.25%. Consider paying points if you plan to stay in the home long enough to break even.

Property taxes are typically included in your monthly mortgage payment through an escrow account. The lender collects 1/12 of the annual tax each month and pays the tax bill when due. Rates vary by location but average 1-2% of home value annually.

Next Steps

1
Get Pre-Approved

Understand how much you can borrow before house hunting.

2
Compare Lenders

Get quotes from multiple lenders for the best rate.

3
Lock Your Rate

Secure your interest rate once you find the right home.