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Mortgage Calculators

If you're a first time home buyer or looking to refinance your home, it can be difficult to know where to start. These mortgage calculators provide simple ways to evaluate your loan options. When you're ready to take the next step, our team of loan officers will be here to walk you through the loan application process from start to finish.

Calculator Options

Enter Mortgage Information

[Enter values or use a slider.]
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*Principal, Interest, Taxes & Insurance
Based on values selected

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Programs available only to qualified borrowers. Programs subject to change without notice. All borrowers subject to underwriting and qualification. Some restrictions may apply.

Your Budget

Additional Variables

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You can afford a 0 home.

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Proposed Loan

Monthly Payment:
0

Payment Adjustments

To see what result you would get by paying more each monthy, each year, or one-time, enter the amount(s) below.

each
on

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Programs available only to qualified borrowers. Programs subject to change without notice. All borrowers subject to underwriting and qualification. Some restrictions may apply.

Proposed Loan

Monthly Payment:
0

Alternate Loan Terms

To compare how different rates and terms will affect the payoff and total cost of your loan, aadjust the term(s) and rate(s) below.

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Programs available only to qualified borrowers. Programs subject to change without notice. All borrowers subject to underwriting and qualification. Some restrictions may apply.

Current Mortgage Information

Proposed Mortgage

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Programs available only to qualified borrowers. Programs subject to change without notice. All borrowers subject to underwriting and qualification. Some restrictions may apply.

Enter Rental Information

Home Purchase

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Programs available only to qualified borrowers. Programs subject to change without notice. All borrowers subject to underwriting and qualification. Some restrictions may apply.

A down payment is an amount of your home’s purchase price you pay up front when closing your home loan. The down payment amount is typically viewed in terms of a percentage of the home price. Lenders often consider this down payment amount to be your investment in the home. The down payment amount affects how much you will need to borrow, and also may play a role in whether Private Mortgage Insurance (PMI) is required. With a down payment of 20% or less of the purchase price, PMI may require an initial premium payment of 1-3.5% of your mortgage amount, and an additional monthly fee. Speak with a MLOA loan officer about preparing for a mortgage, pre-qualification, and other factors that will help you decide on the proper down payment amount.

A mortgage rate is the interest charged on your mortgage loan. Mortgage rates are either fixed or variable. A fixed rate means the interest rate stays constant for the term on the mortgage (i.e. 15, 20, or 30 years). A variable rate fluctuates with a benchmark interest rate so your rate may rise and fall with the market. Changes in your interest rate may drastically affect your mortgage payment. Speak with a MLOA loan officer about APR, rate types, or other types of guidance.

A mortgage term is the length of time, usually in 10, 15, or 30 years, in which the loan is amortized. Amortization is the paying off of your mortgage debt with a fixed repayment schedule in regular installments over the term of your mortgage loan. Speak with a MLOA loan officer to discuss which term may be right for you.

This is the amount of your monthly mortgage payment. Your payment amount is based on items such as home price, amount of down payment, your loan interest rate, loan term, and additional factors such as PMI, homeowner’s insurance and property taxes. Your monthly payment may be different from this result, as other factors may affect the actual payment. Speak with a MLOA loan officer to get you started.

Private Mortgage Insurance (PMI) is a policy which protects lenders or investors from possible loan default and is determined based on the loan to value ratio of the loan in question.

Monthly debts should include out of pocket expenses such as credit cards, car payments, and other loan obligations but do not need to include regular bills such as utilities and insurance.

Selling costs take into account any closing fees paid to realtors, title companies, etc that may reduce the customers equity in the home at the time of sale.

Appreciation is the increase in the value of the property over time. Many factors can influence appreciation including inflation and property improvements.

Know More

Check out loan calculators, videos, tips, and articles to ensure you're up to speed.

Educate Me

To calculate your debt-to-income ratio, add up all your monthly debt payments and divide them by your gross monthly income.

Private Mortgage Insurance (PMI) is a policy which protects lenders or investors from possible loan default and is determined based on the loan to value ratio of the loan in question.

Get Pre-Approved

Fill out a Pre-Approval form and start searching with confidence.

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  • Determine what you can afford and focus your house-hunting efforts
  • Demonstrate to the seller that you have taken the initial steps to obtain a home loan which can be an advantage over other offers
  • Eliminate surprises; sometimes the pre-approval process can uncover minor issues that are easy to fix and help you get started on the right foot
  • It's free, takes just a few minutes and there's no obligation
  • Apply now!

To calculate your debt-to-income ratio, add up all your monthly debt payments and divide them by your gross monthly income.

Private Mortgage Insurance (PMI) is a policy which protects lenders or investors from possible loan default and is determined based on the loan to value ratio of the loan in question.