Austin Real Estate Mortgage Calculator

It’s very important to know what your mortgage payment will be before you purchase a home so it fits comfortably in your budget.

So, we’ve added this mortgage calculator page to help you with your numbers. Note, this calculator applies an interest rate over the loan period and reports only the Principal and Interest payment (P+I) totals. Your actual mortgage payment may also include the Property Taxes and Hazard Insurance (T+I) payments. All together your monthly payment not including utilities is (P+I+T+I) Principal, Interest, Taxes and Insurance.

That’s why it’s important to ‘shop’ a variety of lenders before selecting shopping for a home. Many large consumer banks, mortgage banks/brokers and lenders offer a wide variety of lien packages designed for specific consumer profiles with respect to credit scores, employment history, income, savings and military status.

You’ll benefit from visiting with at least 2-3 different mortgage lenders to determine what loan best fits your budget for payment and avoids unnecessary fees or origination costs.

Before you buy, make sure you have your entire payment (PITI) completely understood and within your budget.

Mortgage Loan Calculator

Real Estate Price?:

Down Payment Pct?:

Amount of Loan?:

Enter a "0" (zero) for one unknown value above.

Monthly Payments?:

Annual Interest Rate?:

Points?:

Annual Prop. Taxes?:

Annual Insurance?:

Mortgage Ins. (PMI)?:

Payment Method?:

Monthly Payment:

Down Payment:

Total Interest:

Total P & I:

Original Size

Mortgage Calculator Help

You can calculate the mortgage loan amount from the price of the real estate by providing the down payment percentage.

If you know the mortgage amount you can afford and the cash down payment percentage required, you can calculate the affordable real estate price.

Or if you know the price of the real estate and the loan amout and enter "0" for the down payment percentage, the calculator will calculate the down payment amount and percentage.

Points, Annual Property Taxes, Annual Insurance and Private Mortgage Ins. (PMI) are all optional. If you enter values, the periodic portion of each will be calculated and shown on the schedule. Property taxes and insurance are combined under escrow.

If a borrower does not have cash to cover at least 20% of the purchase price, some lenders will require the borrower to purchase private mortgage insurance (PMI) to cover against a possible default. Premiums are typically 0.5% to 2.0% of the original loan amount. The borrower can drop the insurance coverage once the mortgage balance is less than 80% of the original purchase price. The calculator handles this automatically. (There may be other conditions as well under which the lender will no longer require PMI. One such case might be apprciation of the real estate.)

Points are charges that are normally due at closing. Borrowers (normally only in USA) may select to pay a lender "points" up front in exchange for a lower interest rate. Points are expressed in percent and are calculated on the amount borrowed. 3 points on a $200,000 mortgage equals $6,000. If the user enters points, this calculator includes their value in the summary and as part of the total payment at loan origination on the payment schedule.

The term (duration) of the loan is expressed as a number of months.

60 months = 5 years
120 months = 10 years
180 months = 15 years
240 months = 20 years
360 months = 30 years

Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://AccurateCalculators.com/mortgage-calculator

Caring for Clients and Communities

Call us (512) 288-8088

Austin Real Estate Mortgage Calculator

It’s very important to know what your mortgage payment will be before you purchase a home so it fits comfortably in your budget.

Mortgage Calculator Help

Austin Real Estate Partners

Caring for clients & communities