Calculators / Mortgage Calculator
Mortgage Calculator
See your monthly payment in seconds. Compare home prices and down payments, then get pre-approved in one day.
30-YEAR FIXED · 5% DOWN$3,202
Estimated monthly payment
NEXT STEP
Yes. Is Closer Than You Think.
Like this number? Get pre-approved in one day. Your loan officer compares rates from 100+ lenders and brings you the strongest offer your file qualifies for.
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Know What Your Payment Includes
Every number updates as you type. The cards below use the $400,000 example further down this page.
ESTIMATED MONTHLY PAYMENT$3,202
Principal, interest, taxes and insurance. This is what you pay each month.
Principal and interest
$2,402Principal pays down your loan. Interest is the cost of borrowing. Early on, most of it is interest.
Property taxes
$600Your yearly tax divided by 12, usually paid through escrow.
Homeowners insurance
$200Your lender requires it. We split the yearly premium into 12 payments.
Mortgage insurance and HOA
VariesUnder 20% down? Mortgage insurance may apply. Add HOA dues to see your full housing payment.
Loan amount
$380,000Home price minus your down payment.
Total interest
$484,669What you pay in interest over the full term.
How We Calculate Your Payment
Three things set your payment: loan amount, rate and term. We do the math.
THE FORMULALoan amount = Home price − Down paymentMonthly P&I = L × r ÷ (1 − (1 + r)−n)
L = loan amount, r = annual rate ÷ 12, n = number of months.
01
Home Price
The price you and the seller agree on. A lower price means a lower payment.
02
Down Payment
The cash you put in at closing. More down means a smaller loan.
03
Loan Term
30 years keeps payments low. 15 years saves interest.
04
Interest Rate
Your rate depends on credit, down payment and program. We find your best rate across 100+ lenders.
05
Property Taxes
Taxes vary by county and city. Use the rate for your home.
06
Homeowners Insurance
Your lender requires it. We divide the premium by 12.
See a Real Payment
Buying a $400,000 home with 5% down? Load it, then change any number.
| Item | Example |
|---|---|
| Home price | $400,000 |
| Down payment (5%) | $20,000 |
| Loan amount | $380,000 |
| Loan term | 30 years |
| Interest rate | 6.5% (example only) |
| Principal and interest | about $2,402 a month |
| Taxes and insurance | about $800 a month (estimated) |
| Estimated total | about $3,202 a month |
What Moves Your Payment
Home Price
Higher price, bigger payment.
Down Payment
More down means a smaller loan and may remove mortgage insurance.
Interest Rate
A small rate change moves your payment.
Loan Term
15 years costs more each month and saves far more interest.
Property Taxes
They vary by county and add up fast.
Homeowners Insurance
Coverage, deductible and location set the cost.
Mortgage Insurance
It depends on loan type, down payment and credit.
HOA Dues
They sit on top of your mortgage.
The questions buyers ask most
Straight answers to what buyers search before they talk to a lender.
PITI=$3,202/mo
MORTGAGE PAYMENT BASICS
What Is Included in a Monthly Mortgage Payment?
Most payments cover PITI: principal, interest, taxes and insurance. Add mortgage insurance if you put down under 20%. Add HOA dues if your home has them. We'll total every line before you make an offer.
- Principal: pays down the loan balance
- Interest: the cost of borrowing
- Taxes & insurance: usually collected in escrow
- Mortgage insurance and HOA: if they apply
PAYMENT BY HOME PRICE
How Much Does a Mortgage Cost at Different Home Prices?
At 6.5% with 5% down, principal and interest is about $1,801 on $300,000, $2,402 on $400,000 and $3,002 on $500,000. Taxes and insurance come on top.
| Home price | Loan amount (5% down) | Monthly P&I (30-yr) |
|---|---|---|
| $300,000 | $285,000 | $1,801 |
| $400,000 | $380,000 | $2,402 |
| $500,000 | $475,000 | $3,002 |
TAXES AND INSURANCE
What Do Taxes and Insurance Add to My Payment?
On a $400,000 home, about $800 a month at a 1.8% tax rate. Rates vary by county and school district. We'll help you price your specific home.
PROPERTY TAXES$600/mo
1.8% a year, about $7,200
HOMEOWNERS INSURANCE$200/mo
About $2,400 a year (estimated)
How Home Price Changes Your Payment
A 30-year loan at 6.5% with 5% down.
| Home price | Loan amount | Principal and interest | Taxes and insurance (est.) | Estimated total |
|---|---|---|---|---|
| $300,000 | $285,000 | $1,801 | $650 | $2,451 |
| $350,000 | $332,500 | $2,102 | $725 | $2,827 |
| $400,000EXAMPLE | $380,000 | $2,402 | $800 | $3,202 |
| $450,000 | $427,500 | $2,702 | $875 | $3,577 |
| $500,000 | $475,000 | $3,002 | $950 | $3,952 |
Examples are for illustration and do not determine eligibility. Taxes use 1.8% a year and insurance $200 a month. Mortgage insurance and HOA dues are not included.
Mortgage Calculator FAQs
Quick answers to the questions buyers ask most about estimating a mortgage payment.
Have a question? Ask us.
Our loan officers will walk you through your numbers, no pressure and no obligation.
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How is a mortgage payment calculated?
Your payment comes from your loan amount, rate and term. Taxes and insurance go on top. The formula is in the How We Calculate section above.
Does the calculator include taxes and insurance?
Yes. Enter your estimates and the total updates. Add mortgage insurance and HOA dues if they apply. We’ll help you confirm each one.
How much do I need to put down?
It depends on the program. Conventional starts at 3% down. FHA starts at 3.5% down with a 580+ credit score. We’ll match you to the right one.
What interest rate should I use?
Start with today’s rates, then adjust. We compare 100+ lenders to find your best rate.
Is a 15-year loan better than a 30-year loan?
A 15-year loan costs more each month and saves a lot of interest. A 30-year loan keeps your payment lower. Compare both above.
Is a calculator the same as pre-approval?
A calculator gives an estimate. Pre-approval checks your income, credit and assets, so you shop with a number you can rely on. We can pre-approve you in one day.
Run the Numbers.
Find Your Yes.
Estimate payments, see your costs and compare your options with every Austin Capital Mortgage calculator.
The payment includes only the taxes, insurance, HOA and mortgage insurance you enter.
Loan amount$380,000
5% down30 yr
Rate (example)6.5%
$3,202/mo
P&I $2,402Taxes $600
Equal Housing Opportunity · Austin Capital Mortgage, a brand of Aspire Home Loans, LLC, NMLS #1955132. The Earned Equity Program is offered through a correspondent relationship with Arrive Home™ LLC.
For informational purposes only; not a commitment to lend, an offer of credit, or legal or tax advice. A buyer does not hold title to the home at origination; title transfers upon payoff or refinance.
Qualification is subject to underwriting approval; program terms and availability are subject to change. Not available in Alaska or New York.
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