Mortgage Calculator
Calculate your estimated monthly mortgage payment, including principal, interest, taxes, insurance, and HOA fees.
Loan Details
Typically 0.5% - 1.5% of loan amount
No down payment, no PMI
This mortgage calculator provides estimates for informational purposes only and is not financial, legal, or tax advice. Results depend on your inputs and assumptions (interest rate, term, taxes, insurance, building fees, PMI/VA rules) and may differ from lender quotes. Verify figures with your lender and attorney before relying on them.
Financing Note: Results depend on assumptions (rate, down payment, credit, PMI, taxes, insurance, common charges/HOA) and may differ from lender quotes. This is not a loan offer or approval; confirm with your lender. add Disclaimer: Estimates only for informational purposes—not legal or tax advice. Actual transfer taxes and “mansion tax” amounts can vary based on the contract, exemptions, closing date, how “consideration” is defined (including some co-op rules), and other NYC/NYS rules. Transfer taxes are generally seller-paid unless shifted by contract; the NYS additional tax (“mansion tax”) and NYC supplemental tax (when applicable) are generally buyer-paid. Confirm all figures with your attorney/closing agent
Estimated Monthly Payment
$1,942
Principal & Interest
$1,517
Property Tax
$300
Home Insurance
$125
Loan Amount
$240,000
Payment Breakdown
Principal & Interest Over Time
Loan Summary
Total Principal Paid
$240,000
Total Interest Paid
$306,107
Total Amount Paid
$546,107
Frequently Asked Questions
How do I use this mortgage calculator?
Enter your home price, down payment, interest rate, and loan term to estimate your monthly mortgage payment. You can also include taxes and insurance for a more accurate result.
How much down payment do I need?
Standard down payments range from 3% to 20% or more. A higher down payment lowers your monthly payment and may eliminate the need for Private Mortgage Insurance (PMI).
What is PMI?
Private Mortgage Insurance (PMI) is usually required if you put down less than 20%. It protects the lender in case of default.
How does the loan term affect my payment?
A shorter term (e.g., 15 years) has higher monthly payments but lower total interest costs. A longer term (e.g., 30 years) has lower monthly payments but costs more in interest over time.
Choose How You Want to Connect?
Licensed real estate broker in NYC & NJ with over 25 years of experience. Specializing in residential sales, new developments, and investment properties. Let me help you find your perfect home and maximize your rebate.