FOA Tools

Mortgage Calculator

Get an idea of what your monthly mortgage payment may be, including costs associated with your mortgage such as property taxes, homeowners insurance, and Private Mortgage Insurance (PMI), if applicable.

Use our Mortgage Calculator to get an estimate of your monthly mortgage payment, as well as taxes and insurance for your potential property. Start by entering the price of the home, your down payment, and other financial details to calculate your mortgage payment breakdown, payment schedule, and more.

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Mortgage Calculator Help

Our mortgage payment calculator makes it easy to get a fair idea of how much your mortgage may be each month. Enter the following information into the mortgage calculator to get your closest possible estimate:

Home Price

Enter the purchase price, or sales price, of the home you’re buying. You may also enter the maximum amount you plan to offer on a home.

Down Payment

Depending on your type of loan, you will likely need to make a down payment of at least 3% of the purchase price. A higher down payment may help lower your monthly payment, and it may also help you qualify for a lower interest rate, so you will need to budget accordingly.

Loan Program

The type of loan you get may affect your interest rate and monthly payments. Select a 30-year fixed, 15-year fixed, or 5/1 ARM loan to calculate your estimated payments for the entire loan term.

Interest Rate

This will already be filled out with the latest average mortgage interest rate. Your actual interest rate may vary if you have a very high or very low credit score, have a higher or lower down payment, and other factors.

Property Tax

This is an estimate of what you’ll pay in property taxes based on the value of the home. Edit this amount in the Advanced Options section of the calculator.

Home Insurance

Home insurance, otherwise known as homeowners insurance, is typically required by lenders. Edit this number in the Advanced Options section of the calculator.

How Much House Can You Afford?

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Why Finance of America Mortgage?

We’re not about pushing loan papers. We’re about moving your dream forward. And we do that through knowledgeable local advisors, a personal approach, and a variety of smart loan options.

Learn More About Why Finance of America Mortgage?

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