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📍 United States · Housing & Loans Updated 2025/2026 Rules

United States Mortgage Calculator

Estimate your United States monthly mortgage payment and compare the effect of changing your down payment, rate, term and other costs. Confirm current terms with a lender.

United States · USD

Modeled for United States: Fixed-rate, fully amortizing mortgage. 28% housing / 36% total DTI planning guideline; PMI drops at 80% LTV

Rule version: source-linked-2026 · Last reviewed: 2026-09-06 (Verified statutory framework) · Official reference

⚙️ Inputs 📊 Breakdown 📅 Amortization 📖 Guide

Loan Details ?

Home price ? $450,000.00

$50,000 $2,000,000+

Down payment ? $90,000.00

State ? State averages are planning estimates. County rates can vary.

Loan Terms

Interest rate (Annual %) ? 6.74%

1.0% 15.0%

Loan term

Loan program

Monthly Costs & Escrow

Property Tax (% / year)

Home insurance ($ / yr)

PMI (% / year)

HOA / Fees ($ / mo)

Fees and Advanced Options ▼

Origination fees ($)

Points (%)

Reset

Monthly Payment ✓

$2,613.81

Principal, Interest, Tax & Ins. PITI

Total Payments 🗓️

$940,971.60

Over full loan term

Total Interest 💲

$479,722.73

Cost of borrowing

Loan & APR US

$360,000.00

APR 6.74% · LTV 80.00%

Monthly Payment Breakdown

Where each monthly dollar goes

$2,613.81 / mo

89.2% P&I

P&I 89.2%

$2,332.56

Property Tax 10.8%

$281.25

Composite

🛡️ Every on-time payment reduces your principal balance and builds lasting equity.

Tax + Insurance + HOA Total: $281.25 / mo

⚠

Rate Context excellent

Below the 25th percentile of published rates — a strong offer.

Market average 6.74% · 25th 6.75% · 75th 6.75% · your rate is 0 bp vs average (sample of 61 loans).

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Calculation is instantly saved in this shareable URL.

Principal vs. Interest Cumulative Principal Interest

Outstanding Loan Balance Over Time

Amortization Schedule

Track how your balance decreases month by month or year by year

Year	Annual Payment	Principal Paid	Interest Paid	Ending Balance
Year 1	$27,990.72	$3,844.03	$24,146.69	$356,155.97
Year 2	$27,990.72	$4,111.27	$23,879.45	$352,044.70
Year 3	$27,990.72	$4,397.09	$23,593.63	$347,647.61
Year 4	$27,990.72	$4,702.78	$23,287.94	$342,944.83
Year 5	$27,990.72	$5,029.72	$22,961.00	$337,915.11
Year 6	$27,990.72	$5,379.40	$22,611.32	$332,535.71
Year 7	$27,990.72	$5,753.38	$22,237.34	$326,782.33
Year 8	$27,990.72	$6,153.35	$21,837.37	$320,628.98
Year 9	$27,990.72	$6,581.14	$21,409.58	$314,047.84
Year 10	$27,990.72	$7,038.70	$20,952.02	$307,009.14
Year 11	$27,990.72	$7,528.03	$20,462.69	$299,481.11
Year 12	$27,990.72	$8,051.39	$19,939.33	$291,429.72
Year 13	$27,990.72	$8,611.12	$19,379.60	$282,818.60
Year 14	$27,990.72	$9,209.79	$18,780.93	$273,608.81
Year 15	$27,990.72	$9,850.07	$18,140.65	$263,758.74
Year 16	$27,990.72	$10,534.89	$17,455.83	$253,223.85
Year 17	$27,990.72	$11,267.28	$16,723.44	$241,956.57
Year 18	$27,990.72	$12,050.60	$15,940.12	$229,905.97
Year 19	$27,990.72	$12,888.36	$15,102.36	$217,017.61
Year 20	$27,990.72	$13,784.38	$14,206.34	$203,233.23
Year 21	$27,990.72	$14,742.70	$13,248.02	$188,490.53
Year 22	$27,990.72	$15,767.64	$12,223.08	$172,722.89
Year 23	$27,990.72	$16,863.83	$11,126.89	$155,859.06
Year 24	$27,990.72	$18,036.24	$9,954.48	$137,822.82
Year 25	$27,990.72	$19,290.13	$8,700.59	$118,532.69
Year 26	$27,990.72	$20,631.23	$7,359.49	$97,901.46
Year 27	$27,990.72	$22,065.54	$5,925.18	$75,835.92
Year 28	$27,990.72	$23,599.55	$4,391.17	$52,236.37
Year 29	$27,990.72	$25,240.25	$2,750.47	$26,996.12
Year 30	$27,990.72	$26,994.99	$995.73	$1.13

Month	Payment	Principal	Interest	Remaining Balance
Month 1	$2,332.56	$310.56	$2,022.00	$359,689.44
Month 2	$2,332.56	$312.30	$2,020.26	$359,377.14
Month 3	$2,332.56	$314.06	$2,018.50	$359,063.08
Month 4	$2,332.56	$315.82	$2,016.74	$358,747.26
Month 5	$2,332.56	$317.60	$2,014.96	$358,429.66
Month 6	$2,332.56	$319.38	$2,013.18	$358,110.28
Month 7	$2,332.56	$321.17	$2,011.39	$357,789.11
Month 8	$2,332.56	$322.98	$2,009.58	$357,466.13
Month 9	$2,332.56	$324.79	$2,007.77	$357,141.34
Month 10	$2,332.56	$326.62	$2,005.94	$356,814.72
Month 11	$2,332.56	$328.45	$2,004.11	$356,486.27
Month 12	$2,332.56	$330.30	$2,002.26	$356,155.97
Month 13	$2,332.56	$332.15	$2,000.41	$355,823.82
Month 14	$2,332.56	$334.02	$1,998.54	$355,489.80
Month 15	$2,332.56	$335.89	$1,996.67	$355,153.91
Month 16	$2,332.56	$337.78	$1,994.78	$354,816.13
Month 17	$2,332.56	$339.68	$1,992.88	$354,476.45
Month 18	$2,332.56	$341.58	$1,990.98	$354,134.87
Month 19	$2,332.56	$343.50	$1,989.06	$353,791.37
Month 20	$2,332.56	$345.43	$1,987.13	$353,445.94
Month 21	$2,332.56	$347.37	$1,985.19	$353,098.57
Month 22	$2,332.56	$349.32	$1,983.24	$352,749.25
Month 23	$2,332.56	$351.29	$1,981.27	$352,397.96
Month 24	$2,332.56	$353.26	$1,979.30	$352,044.70
Month 25	$2,332.56	$355.24	$1,977.32	$351,689.46
Month 26	$2,332.56	$357.24	$1,975.32	$351,332.22
Month 27	$2,332.56	$359.24	$1,973.32	$350,972.98
Month 28	$2,332.56	$361.26	$1,971.30	$350,611.72
Month 29	$2,332.56	$363.29	$1,969.27	$350,248.43
Month 30	$2,332.56	$365.33	$1,967.23	$349,883.10
Month 31	$2,332.56	$367.38	$1,965.18	$349,515.72
Month 32	$2,332.56	$369.45	$1,963.11	$349,146.27
Month 33	$2,332.56	$371.52	$1,961.04	$348,774.75
Month 34	$2,332.56	$373.61	$1,958.95	$348,401.14
Month 35	$2,332.56	$375.71	$1,956.85	$348,025.43
Month 36	$2,332.56	$377.82	$1,954.74	$347,647.61
Month 37	$2,332.56	$379.94	$1,952.62	$347,267.67
Month 38	$2,332.56	$382.07	$1,950.49	$346,885.60
Month 39	$2,332.56	$384.22	$1,948.34	$346,501.38
Month 40	$2,332.56	$386.38	$1,946.18	$346,115.00
Month 41	$2,332.56	$388.55	$1,944.01	$345,726.45
Month 42	$2,332.56	$390.73	$1,941.83	$345,335.72
Month 43	$2,332.56	$392.92	$1,939.64	$344,942.80
Month 44	$2,332.56	$395.13	$1,937.43	$344,547.67
Month 45	$2,332.56	$397.35	$1,935.21	$344,150.32
Month 46	$2,332.56	$399.58	$1,932.98	$343,750.74
Month 47	$2,332.56	$401.83	$1,930.73	$343,348.91
Month 48	$2,332.56	$404.08	$1,928.48	$342,944.83
Month 49	$2,332.56	$406.35	$1,926.21	$342,538.48
Month 50	$2,332.56	$408.64	$1,923.92	$342,129.84
Month 51	$2,332.56	$410.93	$1,921.63	$341,718.91
Month 52	$2,332.56	$413.24	$1,919.32	$341,305.67
Month 53	$2,332.56	$415.56	$1,917.00	$340,890.11
Month 54	$2,332.56	$417.89	$1,914.67	$340,472.22
Month 55	$2,332.56	$420.24	$1,912.32	$340,051.98
Month 56	$2,332.56	$422.60	$1,909.96	$339,629.38
Month 57	$2,332.56	$424.97	$1,907.59	$339,204.41
Month 58	$2,332.56	$427.36	$1,905.20	$338,777.05
Month 59	$2,332.56	$429.76	$1,902.80	$338,347.29
Month 60	$2,332.56	$432.18	$1,900.38	$337,915.11
Month 61	$2,332.56	$434.60	$1,897.96	$337,480.51
Month 62	$2,332.56	$437.04	$1,895.52	$337,043.47
Month 63	$2,332.56	$439.50	$1,893.06	$336,603.97
Month 64	$2,332.56	$441.97	$1,890.59	$336,162.00
Month 65	$2,332.56	$444.45	$1,888.11	$335,717.55
Month 66	$2,332.56	$446.95	$1,885.61	$335,270.60
Month 67	$2,332.56	$449.46	$1,883.10	$334,821.14
Month 68	$2,332.56	$451.98	$1,880.58	$334,369.16
Month 69	$2,332.56	$454.52	$1,878.04	$333,914.64
Month 70	$2,332.56	$457.07	$1,875.49	$333,457.57
Month 71	$2,332.56	$459.64	$1,872.92	$332,997.93
Month 72	$2,332.56	$462.22	$1,870.34	$332,535.71
Month 73	$2,332.56	$464.82	$1,867.74	$332,070.89
Month 74	$2,332.56	$467.43	$1,865.13	$331,603.46
Month 75	$2,332.56	$470.05	$1,862.51	$331,133.41
Month 76	$2,332.56	$472.69	$1,859.87	$330,660.72
Month 77	$2,332.56	$475.35	$1,857.21	$330,185.37
Month 78	$2,332.56	$478.02	$1,854.54	$329,707.35
Month 79	$2,332.56	$480.70	$1,851.86	$329,226.65
Month 80	$2,332.56	$483.40	$1,849.16	$328,743.25
Month 81	$2,332.56	$486.12	$1,846.44	$328,257.13
Month 82	$2,332.56	$488.85	$1,843.71	$327,768.28
Month 83	$2,332.56	$491.59	$1,840.97	$327,276.69
Month 84	$2,332.56	$494.36	$1,838.20	$326,782.33
Month 85	$2,332.56	$497.13	$1,835.43	$326,285.20
Month 86	$2,332.56	$499.92	$1,832.64	$325,785.28
Month 87	$2,332.56	$502.73	$1,829.83	$325,282.55
Month 88	$2,332.56	$505.56	$1,827.00	$324,776.99
Month 89	$2,332.56	$508.40	$1,824.16	$324,268.59
Month 90	$2,332.56	$511.25	$1,821.31	$323,757.34
Month 91	$2,332.56	$514.12	$1,818.44	$323,243.22
Month 92	$2,332.56	$517.01	$1,815.55	$322,726.21
Month 93	$2,332.56	$519.91	$1,812.65	$322,206.30
Month 94	$2,332.56	$522.83	$1,809.73	$321,683.47
Month 95	$2,332.56	$525.77	$1,806.79	$321,157.70
Month 96	$2,332.56	$528.72	$1,803.84	$320,628.98
Month 97	$2,332.56	$531.69	$1,800.87	$320,097.29
Month 98	$2,332.56	$534.68	$1,797.88	$319,562.61
Month 99	$2,332.56	$537.68	$1,794.88	$319,024.93
Month 100	$2,332.56	$540.70	$1,791.86	$318,484.23
Month 101	$2,332.56	$543.74	$1,788.82	$317,940.49
Month 102	$2,332.56	$546.79	$1,785.77	$317,393.70
Month 103	$2,332.56	$549.87	$1,782.69	$316,843.83
Month 104	$2,332.56	$552.95	$1,779.61	$316,290.88
Month 105	$2,332.56	$556.06	$1,776.50	$315,734.82
Month 106	$2,332.56	$559.18	$1,773.38	$315,175.64
Month 107	$2,332.56	$562.32	$1,770.24	$314,613.32
Month 108	$2,332.56	$565.48	$1,767.08	$314,047.84
Month 109	$2,332.56	$568.66	$1,763.90	$313,479.18
Month 110	$2,332.56	$571.85	$1,760.71	$312,907.33
Month 111	$2,332.56	$575.06	$1,757.50	$312,332.27
Month 112	$2,332.56	$578.29	$1,754.27	$311,753.98
Month 113	$2,332.56	$581.54	$1,751.02	$311,172.44
Month 114	$2,332.56	$584.81	$1,747.75	$310,587.63
Month 115	$2,332.56	$588.09	$1,744.47	$309,999.54
Month 116	$2,332.56	$591.40	$1,741.16	$309,408.14
Month 117	$2,332.56	$594.72	$1,737.84	$308,813.42
Month 118	$2,332.56	$598.06	$1,734.50	$308,215.36
Month 119	$2,332.56	$601.42	$1,731.14	$307,613.94
Month 120	$2,332.56	$604.80	$1,727.76	$307,009.14
Month 121	$2,332.56	$608.19	$1,724.37	$306,400.95
Month 122	$2,332.56	$611.61	$1,720.95	$305,789.34
Month 123	$2,332.56	$615.04	$1,717.52	$305,174.30
Month 124	$2,332.56	$618.50	$1,714.06	$304,555.80
Month 125	$2,332.56	$621.97	$1,710.59	$303,933.83
Month 126	$2,332.56	$625.46	$1,707.10	$303,308.37
Month 127	$2,332.56	$628.98	$1,703.58	$302,679.39
Month 128	$2,332.56	$632.51	$1,700.05	$302,046.88
Month 129	$2,332.56	$636.06	$1,696.50	$301,410.82
Month 130	$2,332.56	$639.64	$1,692.92	$300,771.18
Month 131	$2,332.56	$643.23	$1,689.33	$300,127.95
Month 132	$2,332.56	$646.84	$1,685.72	$299,481.11
Month 133	$2,332.56	$650.47	$1,682.09	$298,830.64
Month 134	$2,332.56	$654.13	$1,678.43	$298,176.51
Month 135	$2,332.56	$657.80	$1,674.76	$297,518.71
Month 136	$2,332.56	$661.50	$1,671.06	$296,857.21
Month 137	$2,332.56	$665.21	$1,667.35	$296,192.00
Month 138	$2,332.56	$668.95	$1,663.61	$295,523.05
Month 139	$2,332.56	$672.71	$1,659.85	$294,850.34
Month 140	$2,332.56	$676.48	$1,656.08	$294,173.86
Month 141	$2,332.56	$680.28	$1,652.28	$293,493.58
Month 142	$2,332.56	$684.10	$1,648.46	$292,809.48
Month 143	$2,332.56	$687.95	$1,644.61	$292,121.53
Month 144	$2,332.56	$691.81	$1,640.75	$291,429.72
Month 145	$2,332.56	$695.70	$1,636.86	$290,734.02
Month 146	$2,332.56	$699.60	$1,632.96	$290,034.42
Month 147	$2,332.56	$703.53	$1,629.03	$289,330.89
Month 148	$2,332.56	$707.48	$1,625.08	$288,623.41
Month 149	$2,332.56	$711.46	$1,621.10	$287,911.95
Month 150	$2,332.56	$715.45	$1,617.11	$287,196.50
Month 151	$2,332.56	$719.47	$1,613.09	$286,477.03
Month 152	$2,332.56	$723.51	$1,609.05	$285,753.52
Month 153	$2,332.56	$727.58	$1,604.98	$285,025.94
Month 154	$2,332.56	$731.66	$1,600.90	$284,294.28
Month 155	$2,332.56	$735.77	$1,596.79	$283,558.51
Month 156	$2,332.56	$739.91	$1,592.65	$282,818.60
Month 157	$2,332.56	$744.06	$1,588.50	$282,074.54
Month 158	$2,332.56	$748.24	$1,584.32	$281,326.30
Month 159	$2,332.56	$752.44	$1,580.12	$280,573.86
Month 160	$2,332.56	$756.67	$1,575.89	$279,817.19
Month 161	$2,332.56	$760.92	$1,571.64	$279,056.27
Month 162	$2,332.56	$765.19	$1,567.37	$278,291.08
Month 163	$2,332.56	$769.49	$1,563.07	$277,521.59
Month 164	$2,332.56	$773.81	$1,558.75	$276,747.78
Month 165	$2,332.56	$778.16	$1,554.40	$275,969.62
Month 166	$2,332.56	$782.53	$1,550.03	$275,187.09
Month 167	$2,332.56	$786.93	$1,545.63	$274,400.16
Month 168	$2,332.56	$791.35	$1,541.21	$273,608.81
Month 169	$2,332.56	$795.79	$1,536.77	$272,813.02
Month 170	$2,332.56	$800.26	$1,532.30	$272,012.76
Month 171	$2,332.56	$804.75	$1,527.81	$271,208.01
Month 172	$2,332.56	$809.28	$1,523.28	$270,398.73
Month 173	$2,332.56	$813.82	$1,518.74	$269,584.91
Month 174	$2,332.56	$818.39	$1,514.17	$268,766.52
Month 175	$2,332.56	$822.99	$1,509.57	$267,943.53
Month 176	$2,332.56	$827.61	$1,504.95	$267,115.92
Month 177	$2,332.56	$832.26	$1,500.30	$266,283.66
Month 178	$2,332.56	$836.93	$1,495.63	$265,446.73
Month 179	$2,332.56	$841.63	$1,490.93	$264,605.10
Month 180	$2,332.56	$846.36	$1,486.20	$263,758.74
Month 181	$2,332.56	$851.12	$1,481.44	$262,907.62
Month 182	$2,332.56	$855.90	$1,476.66	$262,051.72
Month 183	$2,332.56	$860.70	$1,471.86	$261,191.02
Month 184	$2,332.56	$865.54	$1,467.02	$260,325.48
Month 185	$2,332.56	$870.40	$1,462.16	$259,455.08
Month 186	$2,332.56	$875.29	$1,457.27	$258,579.79
Month 187	$2,332.56	$880.20	$1,452.36	$257,699.59
Month 188	$2,332.56	$885.15	$1,447.41	$256,814.44
Month 189	$2,332.56	$890.12	$1,442.44	$255,924.32
Month 190	$2,332.56	$895.12	$1,437.44	$255,029.20
Month 191	$2,332.56	$900.15	$1,432.41	$254,129.05
Month 192	$2,332.56	$905.20	$1,427.36	$253,223.85
Month 193	$2,332.56	$910.29	$1,422.27	$252,313.56
Month 194	$2,332.56	$915.40	$1,417.16	$251,398.16
Month 195	$2,332.56	$920.54	$1,412.02	$250,477.62
Month 196	$2,332.56	$925.71	$1,406.85	$249,551.91
Month 197	$2,332.56	$930.91	$1,401.65	$248,621.00
Month 198	$2,332.56	$936.14	$1,396.42	$247,684.86
Month 199	$2,332.56	$941.40	$1,391.16	$246,743.46
Month 200	$2,332.56	$946.68	$1,385.88	$245,796.78
Month 201	$2,332.56	$952.00	$1,380.56	$244,844.78
Month 202	$2,332.56	$957.35	$1,375.21	$243,887.43
Month 203	$2,332.56	$962.73	$1,369.83	$242,924.70
Month 204	$2,332.56	$968.13	$1,364.43	$241,956.57
Month 205	$2,332.56	$973.57	$1,358.99	$240,983.00
Month 206	$2,332.56	$979.04	$1,353.52	$240,003.96
Month 207	$2,332.56	$984.54	$1,348.02	$239,019.42
Month 208	$2,332.56	$990.07	$1,342.49	$238,029.35
Month 209	$2,332.56	$995.63	$1,336.93	$237,033.72
Month 210	$2,332.56	$1,001.22	$1,331.34	$236,032.50
Month 211	$2,332.56	$1,006.84	$1,325.72	$235,025.66
Month 212	$2,332.56	$1,012.50	$1,320.06	$234,013.16
Month 213	$2,332.56	$1,018.19	$1,314.37	$232,994.97
Month 214	$2,332.56	$1,023.90	$1,308.66	$231,971.07
Month 215	$2,332.56	$1,029.66	$1,302.90	$230,941.41
Month 216	$2,332.56	$1,035.44	$1,297.12	$229,905.97
Month 217	$2,332.56	$1,041.25	$1,291.31	$228,864.72
Month 218	$2,332.56	$1,047.10	$1,285.46	$227,817.62
Month 219	$2,332.56	$1,052.98	$1,279.58	$226,764.64
Month 220	$2,332.56	$1,058.90	$1,273.66	$225,705.74
Month 221	$2,332.56	$1,064.85	$1,267.71	$224,640.89
Month 222	$2,332.56	$1,070.83	$1,261.73	$223,570.06
Month 223	$2,332.56	$1,076.84	$1,255.72	$222,493.22
Month 224	$2,332.56	$1,082.89	$1,249.67	$221,410.33
Month 225	$2,332.56	$1,088.97	$1,243.59	$220,321.36
Month 226	$2,332.56	$1,095.09	$1,237.47	$219,226.27
Month 227	$2,332.56	$1,101.24	$1,231.32	$218,125.03
Month 228	$2,332.56	$1,107.42	$1,225.14	$217,017.61
Month 229	$2,332.56	$1,113.64	$1,218.92	$215,903.97
Month 230	$2,332.56	$1,119.90	$1,212.66	$214,784.07
Month 231	$2,332.56	$1,126.19	$1,206.37	$213,657.88
Month 232	$2,332.56	$1,132.51	$1,200.05	$212,525.37
Month 233	$2,332.56	$1,138.88	$1,193.68	$211,386.49
Month 234	$2,332.56	$1,145.27	$1,187.29	$210,241.22
Month 235	$2,332.56	$1,151.71	$1,180.85	$209,089.51
Month 236	$2,332.56	$1,158.17	$1,174.39	$207,931.34
Month 237	$2,332.56	$1,164.68	$1,167.88	$206,766.66
Month 238	$2,332.56	$1,171.22	$1,161.34	$205,595.44
Month 239	$2,332.56	$1,177.80	$1,154.76	$204,417.64
Month 240	$2,332.56	$1,184.41	$1,148.15	$203,233.23
Month 241	$2,332.56	$1,191.07	$1,141.49	$202,042.16
Month 242	$2,332.56	$1,197.76	$1,134.80	$200,844.40
Month 243	$2,332.56	$1,204.48	$1,128.08	$199,639.92
Month 244	$2,332.56	$1,211.25	$1,121.31	$198,428.67
Month 245	$2,332.56	$1,218.05	$1,114.51	$197,210.62
Month 246	$2,332.56	$1,224.89	$1,107.67	$195,985.73
Month 247	$2,332.56	$1,231.77	$1,100.79	$194,753.96
Month 248	$2,332.56	$1,238.69	$1,093.87	$193,515.27
Month 249	$2,332.56	$1,245.65	$1,086.91	$192,269.62
Month 250	$2,332.56	$1,252.65	$1,079.91	$191,016.97
Month 251	$2,332.56	$1,259.68	$1,072.88	$189,757.29
Month 252	$2,332.56	$1,266.76	$1,065.80	$188,490.53
Month 253	$2,332.56	$1,273.87	$1,058.69	$187,216.66
Month 254	$2,332.56	$1,281.03	$1,051.53	$185,935.63
Month 255	$2,332.56	$1,288.22	$1,044.34	$184,647.41
Month 256	$2,332.56	$1,295.46	$1,037.10	$183,351.95
Month 257	$2,332.56	$1,302.73	$1,029.83	$182,049.22
Month 258	$2,332.56	$1,310.05	$1,022.51	$180,739.17
Month 259	$2,332.56	$1,317.41	$1,015.15	$179,421.76
Month 260	$2,332.56	$1,324.81	$1,007.75	$178,096.95
Month 261	$2,332.56	$1,332.25	$1,000.31	$176,764.70
Month 262	$2,332.56	$1,339.73	$992.83	$175,424.97
Month 263	$2,332.56	$1,347.26	$985.30	$174,077.71
Month 264	$2,332.56	$1,354.82	$977.74	$172,722.89
Month 265	$2,332.56	$1,362.43	$970.13	$171,360.46
Month 266	$2,332.56	$1,370.09	$962.47	$169,990.37
Month 267	$2,332.56	$1,377.78	$954.78	$168,612.59
Month 268	$2,332.56	$1,385.52	$947.04	$167,227.07
Month 269	$2,332.56	$1,393.30	$939.26	$165,833.77
Month 270	$2,332.56	$1,401.13	$931.43	$164,432.64
Month 271	$2,332.56	$1,409.00	$923.56	$163,023.64
Month 272	$2,332.56	$1,416.91	$915.65	$161,606.73
Month 273	$2,332.56	$1,424.87	$907.69	$160,181.86
Month 274	$2,332.56	$1,432.87	$899.69	$158,748.99
Month 275	$2,332.56	$1,440.92	$891.64	$157,308.07
Month 276	$2,332.56	$1,449.01	$883.55	$155,859.06
Month 277	$2,332.56	$1,457.15	$875.41	$154,401.91
Month 278	$2,332.56	$1,465.34	$867.22	$152,936.57
Month 279	$2,332.56	$1,473.57	$858.99	$151,463.00
Month 280	$2,332.56	$1,481.84	$850.72	$149,981.16
Month 281	$2,332.56	$1,490.17	$842.39	$148,490.99
Month 282	$2,332.56	$1,498.54	$834.02	$146,992.45
Month 283	$2,332.56	$1,506.95	$825.61	$145,485.50
Month 284	$2,332.56	$1,515.42	$817.14	$143,970.08
Month 285	$2,332.56	$1,523.93	$808.63	$142,446.15
Month 286	$2,332.56	$1,532.49	$800.07	$140,913.66
Month 287	$2,332.56	$1,541.09	$791.47	$139,372.57
Month 288	$2,332.56	$1,549.75	$782.81	$137,822.82
Month 289	$2,332.56	$1,558.46	$774.10	$136,264.36
Month 290	$2,332.56	$1,567.21	$765.35	$134,697.15
Month 291	$2,332.56	$1,576.01	$756.55	$133,121.14
Month 292	$2,332.56	$1,584.86	$747.70	$131,536.28
Month 293	$2,332.56	$1,593.76	$738.80	$129,942.52
Month 294	$2,332.56	$1,602.72	$729.84	$128,339.80
Month 295	$2,332.56	$1,611.72	$720.84	$126,728.08
Month 296	$2,332.56	$1,620.77	$711.79	$125,107.31
Month 297	$2,332.56	$1,629.87	$702.69	$123,477.44
Month 298	$2,332.56	$1,639.03	$693.53	$121,838.41
Month 299	$2,332.56	$1,648.23	$684.33	$120,190.18
Month 300	$2,332.56	$1,657.49	$675.07	$118,532.69
Month 301	$2,332.56	$1,666.80	$665.76	$116,865.89
Month 302	$2,332.56	$1,676.16	$656.40	$115,189.73
Month 303	$2,332.56	$1,685.58	$646.98	$113,504.15
Month 304	$2,332.56	$1,695.05	$637.51	$111,809.10
Month 305	$2,332.56	$1,704.57	$627.99	$110,104.53
Month 306	$2,332.56	$1,714.14	$618.42	$108,390.39
Month 307	$2,332.56	$1,723.77	$608.79	$106,666.62
Month 308	$2,332.56	$1,733.45	$599.11	$104,933.17
Month 309	$2,332.56	$1,743.19	$589.37	$103,189.98
Month 310	$2,332.56	$1,752.98	$579.58	$101,437.00
Month 311	$2,332.56	$1,762.82	$569.74	$99,674.18
Month 312	$2,332.56	$1,772.72	$559.84	$97,901.46
Month 313	$2,332.56	$1,782.68	$549.88	$96,118.78
Month 314	$2,332.56	$1,792.69	$539.87	$94,326.09
Month 315	$2,332.56	$1,802.76	$529.80	$92,523.33
Month 316	$2,332.56	$1,812.89	$519.67	$90,710.44
Month 317	$2,332.56	$1,823.07	$509.49	$88,887.37
Month 318	$2,332.56	$1,833.31	$499.25	$87,054.06
Month 319	$2,332.56	$1,843.61	$488.95	$85,210.45
Month 320	$2,332.56	$1,853.96	$478.60	$83,356.49
Month 321	$2,332.56	$1,864.37	$468.19	$81,492.12
Month 322	$2,332.56	$1,874.85	$457.71	$79,617.27
Month 323	$2,332.56	$1,885.38	$447.18	$77,731.89
Month 324	$2,332.56	$1,895.97	$436.59	$75,835.92
Month 325	$2,332.56	$1,906.61	$425.95	$73,929.31
Month 326	$2,332.56	$1,917.32	$415.24	$72,011.99
Month 327	$2,332.56	$1,928.09	$404.47	$70,083.90
Month 328	$2,332.56	$1,938.92	$393.64	$68,144.98
Month 329	$2,332.56	$1,949.81	$382.75	$66,195.17
Month 330	$2,332.56	$1,960.76	$371.80	$64,234.41
Month 331	$2,332.56	$1,971.78	$360.78	$62,262.63
Month 332	$2,332.56	$1,982.85	$349.71	$60,279.78
Month 333	$2,332.56	$1,993.99	$338.57	$58,285.79
Month 334	$2,332.56	$2,005.19	$327.37	$56,280.60
Month 335	$2,332.56	$2,016.45	$316.11	$54,264.15
Month 336	$2,332.56	$2,027.78	$304.78	$52,236.37
Month 337	$2,332.56	$2,039.17	$293.39	$50,197.20
Month 338	$2,332.56	$2,050.62	$281.94	$48,146.58
Month 339	$2,332.56	$2,062.14	$270.42	$46,084.44
Month 340	$2,332.56	$2,073.72	$258.84	$44,010.72
Month 341	$2,332.56	$2,085.37	$247.19	$41,925.35
Month 342	$2,332.56	$2,097.08	$235.48	$39,828.27
Month 343	$2,332.56	$2,108.86	$223.70	$37,719.41
Month 344	$2,332.56	$2,120.70	$211.86	$35,598.71
Month 345	$2,332.56	$2,132.61	$199.95	$33,466.10
Month 346	$2,332.56	$2,144.59	$187.97	$31,321.51
Month 347	$2,332.56	$2,156.64	$175.92	$29,164.87
Month 348	$2,332.56	$2,168.75	$163.81	$26,996.12
Month 349	$2,332.56	$2,180.93	$151.63	$24,815.19
Month 350	$2,332.56	$2,193.18	$139.38	$22,622.01
Month 351	$2,332.56	$2,205.50	$127.06	$20,416.51
Month 352	$2,332.56	$2,217.89	$114.67	$18,198.62
Month 353	$2,332.56	$2,230.34	$102.22	$15,968.28
Month 354	$2,332.56	$2,242.87	$89.69	$13,725.41
Month 355	$2,332.56	$2,255.47	$77.09	$11,469.94
Month 356	$2,332.56	$2,268.14	$64.42	$9,201.80
Month 357	$2,332.56	$2,280.88	$51.68	$6,920.92
Month 358	$2,332.56	$2,293.69	$38.87	$4,627.23
Month 359	$2,332.56	$2,306.57	$25.99	$2,320.66
Month 360	$2,332.56	$2,319.53	$13.03	$1.13

15-Year vs. 30-Year Loan Comparison

Principal and interest comparison showing long-term interest savings

Loan Term	Monthly P&I	Total Interest Paid	Total Interest Saved
180 Months (15 Years)	$3,183.68	$213,061.92	Save $266,660.81
360 Months (30 Years)	$2,332.56	$479,722.73	Baseline

Mortgage estimate

A mortgage payment depends on the loan amount, interest rate and term. Depending on the property and location, taxes, insurance, mortgage insurance, association charges and fees may also affect the overall cost. Add the costs that apply to your situation to compare scenarios.

This calculator provides an estimate from the values entered and the selected country assumptions. It does not assess a complete mortgage application or replace a lender's offer. Inputs are sent over HTTPS for calculation and are not saved to an account or calculation database.

Who Benefits Most

First-time homebuyers benefit from seeing their true total monthly housing commitment—encompassing principal, interest, tax escrows, hazard insurance, and private mortgage insurance—before making an offer on a home. Existing homeowners evaluating a refinance can accurately test whether monthly interest savings offset appraisal, origination, and title fees to establish their true breakeven date. International expatriates, cross-border professionals, and relocating families can contrast borrowing limits, mandatory deposit thresholds, and repayment mechanics across different legal jurisdictions without switching software or deciphering unfamiliar terminology.

Country-specific details

The calculators cover country-specific details such as US PMI rules, Australian Lenders Mortgage Insurance (LMI), Canadian mortgage default insurance, and German annuity structures (Annuitätendarlehen with Tilgung and Zinsbindung). Inputs are sent to our application over HTTPS to calculate results, but are not saved to an account or calculation database. Shareable links may include the values you entered.

A Practical Walk-Through of Our Financial Tool Suites

Making sound property and borrowing decisions requires looking beyond an isolated loan payment. Our platform arranges complementary financial tools into three specialized suites, allowing you to examine every dimension of your personal balance sheet.

1. Housing and Mortgage Suite

The Home Affordability Calculator estimates a price from income, debts and country assumptions. The Mortgage Calculator estimates payments from the loan amount, rate, term and costs you enter. You can also compare extra payments, refinancing costs, or rent and buy scenarios using your own assumptions.

2. Income, Tax, and Budgeting Suite

The Salary Calculator estimates take-home pay using the selected country and the details entered. The Budget Calculator helps organize income and expenses. Both can help you explore a budget, but neither decides whether a lender will approve an application.

3. Debt Elimination and Wealth Accumulation Suite

The Debt Consolidation and Loan Calculators compare payments and interest using the values you provide. The Compound Interest Calculator illustrates how contributions and assumed returns affect a future balance; returns are not guaranteed.

How to Use This Mortgage Calculator

Begin by entering your agreed Home Price, which represents the gross purchase valuation stated on your real estate purchase agreement. Next, enter your cash Down Payment (or deposit). The calculator subtracts this down payment from the property price to determine your net base loan principal, displaying your Loan-to-Value (LTV) percentage immediately. If your down payment is below conventional thresholds (such as 20% in the United States, Australia, or Canada), the system automatically incorporates statutory mortgage default insurance into your monthly projections.

Enter the annual interest rate and loan term from the offer you want to assess. A shorter term usually has higher regular payments and may reduce interest over the life of the loan. Add estimates for property taxes, insurance, mortgage insurance and HOA dues to see their effect on monthly housing costs.

Calculation Methodology & Statutory Standards

For a fixed-rate loan with regular monthly payments, the principal and interest estimate uses the standard amortization equation:

M = P × [ r(1 + r)ⁿ ] / [ (1 + r)ⁿ − 1 ]

In this formula, M is the monthly principal and interest payment, P is the loan principal, r is the monthly interest rate, and n is the number of monthly payments.

Each payment first covers interest on the outstanding balance; the remainder reduces principal. Taxes, insurance and other costs are shown from the values entered and country assumptions. Actual lender calculations, insurance rules and escrow amounts may differ; confirm them with your lender and relevant authority.

Frequently Asked Questions About Mortgage Financing

What is the practical difference between a mortgage interest rate and the APR?

The interest rate is the baseline annual cost of borrowing expressed as a percentage of your outstanding principal balance. The Annual Percentage Rate (APR) reflects the broader cost of financing, bundling the base interest rate together with origination points, discount points, processing fees, underwriting charges, and essential settlement expenses. Under Regulation Z of the Truth in Lending Act enforced by the Consumer Financial Protection Bureau (CFPB), lenders must disclose the APR so borrowers can make an apples-to-apples comparison across competing mortgage offers that feature differing upfront fee structures.

When and how can Private Mortgage Insurance (PMI) be cancelled?

Under the federal Homeowners Protection Act of 1998, you have the legal right to submit a written request to cancel PMI once your regular payments bring the principal loan balance down to 80% of the property's original value, provided your payment history is satisfactory. In addition, mortgage loan servicers are required by law to cancel PMI automatically once your amortization schedule reaches 78% of the original value, without requiring borrower intervention. Loans backed by the Federal Housing Administration (FHA) follow different statutory rules: borrowers who put down less than 10% must maintain Mortgage Insurance Premiums (MIP) for the entire duration of the loan.

How do additional principal curtailments reduce total loan cost and payoff duration?

Because mortgage interest is calculated monthly against the remaining principal balance, applying extra funds directly toward the principal lowers every subsequent monthly interest charge. For example, adding an extra $200 each month to a $400,000 30-year fixed loan at 6.75% eliminates more than five years of scheduled payments and prevents over $85,000 in interest charges from accruing. Conforming residential mortgages carry no statutory prepayment penalties, meaning borrowers can pay down principal at any cadence without penalty.

How does a fixed-rate mortgage compare against an adjustable-rate mortgage (ARM)?

A fixed-rate mortgage guarantees that your principal and interest payment remains identical over the entire loan life, shielding household budgets from macroeconomic rate volatility. An adjustable-rate mortgage (ARM) or tracker loan provides an initial discounted interest rate for a fixed period (such as 3, 5, or 7 years), after which the rate adjusts periodically according to a benchmark index (such as SOFR in the United States or the Bank of England base rate in the United Kingdom) plus a lender margin. Borrowers who plan to relocate or refinance before the initial fixed period expires can save significant interest with an ARM, but they accept the risk of higher future payments if benchmark rates rise.

Explore Related Financial Planning Calculators

Affordability Calculator →

Use this tool before touring properties to calculate your maximum purchase ceiling based on your gross household income, recurring personal debt obligations, and statutory debt-to-income (DTI) caps.

Extra Payment Calculator →

Use this tool to estimate how recurring or one-off extra payments could affect payoff time and total interest.

Refinance Calculator →

Use this tool when market interest rates decline to compute your financial break-even point by comparing ongoing payment reductions against upfront loan origination and closing settlement fees.

United States Mortgage Standards & Regulatory Limits

Mortgage underwriting in United States follows domestic statutory frameworks governing maximum loan-to-value (LTV) limits, minimum cash deposits, and mandatory interest rate stress tests. This calculator automatically incorporates United States standards into its assumptions so that your results reflect realistic underwriting requirements rather than generic estimates.

Front-end 28% / back-end 36% DTI. PMI typically required above 80% LTV.

United States home affordability calculator → Test extra mortgage payments → Mortgage refinance calculator → Compare renting and buying in United States → Estimate your total home-buying budget → Check United States net take-home salary → Explore country mortgage guides →

⚙️

Calculation Methodology & Proof

Mortgage (PITI + schedule)

The loan is amortized as above. Housing cost adds tax, insurance, HOA, and PMI. UK-style splits keep an interest-only balloon.

PITI = M + tax/12 + insurance/12 + HOA + PMI. IO payment = IO balance × r. Balloon = IO balance at term.

Loan amount = price − down payment. LTV = loan / price.
If an interest-only amount is set, only the remainder amortizes.
PMI (when enabled) is charged while scheduled LTV is above the threshold (default 80%).
Total cost sums interest, fees, and the recurring housing add-ons over the payoff period.

Important Caveats & Planning Assumptions

Tax and insurance are estimates; escrow analysis will differ.
PMI cancellation rules vary by product and country.

Read complete methodology documentation →

Frequently Asked Questions

Expert answers to common questions

What is included in the monthly total?

Principal and interest, plus estimated property tax, home insurance, HOA, and PMI when LTV is above the threshold. That PITI figure is what lenders use for affordability.

When does PMI drop off?

This calculator removes PMI once the scheduled balance reaches 80% of the original purchase price. Servicers may also need an appraisal; rules vary by country and loan type.

How does a UK split mortgage work here?

Set an interest-only amount. That slice is charged interest only and remains as a balloon; the rest amortizes over the term.

Total Monthly (PITI)

$2,613.81

Breakdown ↓ Schedule

📋 Official Guide · 2026

Reviewed 2026-09-11 · Rates verified September 11, 2026 against Freddie Mac Primary Mortgage Market Survey and Bankrate. Loan limits per FHFA 2026 announcement. Always consult a licensed mortgage professional before making a borrowing decision.

United States Mortgage Guide 2026: FHA, Conventional, VA, USDA, Rates and Costs

The US mortgage market offers more loan programs with lower down payment requirements than almost any other country. You can buy a home with 0% down if you qualify for VA or USDA loans, 3% down through conventional programs, or 3.5% down through FHA. The trade-off is a complex approval process, mandatory mortgage insurance on low-down-payment loans, and closing costs that most buyers underestimate by thousands of dollars. This guide covers every program, every cost, and every rate with current September 2026 figures.

How Much Can You Borrow in the United States? ▼

Your maximum mortgage in the US depends on two ceilings: your income-based borrowing capacity and the loan program limit that applies to your purchase.

Income-based limit: the debt-to-income ratio (DTI)

Lenders calculate how much of your gross monthly income goes toward all debt payments, including your new mortgage payment, property taxes, insurance, and any existing debts. The standard threshold is:

Conventional loans: maximum 43% to 50% DTI

FHA loans: maximum 57% DTI (the most flexible)

VA loans: no hard DTI cap, but lenders want residual income after all expenses

Program-based limit: conforming loan limits

In 2026, the baseline conforming loan limit for a single-family home in most US counties is $832,750. In high-cost areas including parts of California, Hawaii, and the Northeast, the ceiling rises to $1,249,125. Loans above these limits are jumbo mortgages with stricter requirements and higher down payments.

Indicative borrowing figures for 2026:

Gross annual income	Estimated maximum mortgage (conventional, 43% DTI)
$60,000	$240,000 to $280,000
$90,000	$360,000 to $420,000
$120,000	$480,000 to $560,000
$150,000	$600,000 to $700,000

Use the affordability calculator to run your specific income, debts, and target rate through the DTI test before you start viewing homes.

US Mortgage Loan Programs in 2026 ▼

The US system offers four main government-backed and two main conventional structures. Each one targets a different buyer profile.

Conventional Loans: 3% to 20% down ▼

A conventional loan is any mortgage not insured by a federal government agency. Fannie Mae and Freddie Mac buy conventional loans from lenders, which keeps rates competitive. In 2026, the baseline conforming limit is $832,750.

Minimum down payment by program:

Conventional 97 / HomeReady (Fannie Mae) / Home Possible (Freddie Mac): 3% down for first-time or qualifying buyers. Credit score of at least 620 required. Income limits apply on HomeReady and Home Possible.

Standard conventional: 5% down for most buyers. 10% to 20% for multi-unit or second homes.

20% down: eliminates private mortgage insurance (PMI) entirely, producing the lowest monthly payment.

Credit score requirements:

620 minimum for approval

680 or above for competitive pricing

740 or above for best rates

FHA Loans: 3.5% down with flexible credit ▼

FHA loans are insured by the Federal Housing Administration and are the most popular first-time buyer program in the US. In 2026:

3.5% down with a credit score of 580 or above

10% down with a credit score of 500 to 579

2026 FHA loan limit: $541,287 in standard counties, $1,249,125 in high-cost areas

Mortgage insurance: 1.75% upfront premium (added to the loan) plus 0.55% annually

DTI: up to 57%, the most permissive of any standard program

100% of the down payment can come from gift funds

FHA mortgage insurance stays for the life of the loan if you put down less than 10%. If you put down 10% or more, it drops off after 11 years.

VA Loans: 0% down for eligible veterans ▼

VA loans are guaranteed by the Department of Veterans Affairs and are available to eligible veterans, active-duty service members, and surviving spouses.

0% down payment required

No monthly mortgage insurance (saving $100 to $300 per month versus FHA)

No minimum credit score set by VA, though most lenders require 620

One-time VA funding fee (typically 2.15% to 3.3% of the loan, waived for disabled veterans)

2026 rates: averaging 6.34% to 6.54% for 30-year VA loans, meaningfully below conventional

VA loans are the strongest mortgage product available in the US for eligible buyers.

USDA Loans: 0% down in eligible rural and suburban areas ▼

USDA loans target buyers in designated rural and eligible suburban areas who meet income limits.

0% down payment required

Annual guarantee fee of 0.35% of the loan balance (lower than FHA annual mortgage insurance)

1% upfront guarantee fee (financed into the loan)

Income limits apply: typically 115% of the area median income

Property must be in an eligible geographic area (not all rural, many suburban locations qualify)

Jumbo Loans: above $832,750 ▼

Loans above the conforming limit are called jumbo loans. They carry stricter requirements:

10% to 25% down payment depending on the lender and loan amount

Credit score of 700 or above typically required

Full income and asset documentation required

2026 rates: 6.87% to 6.94% for 30-year jumbo, slightly above conforming

All loan types at a glance:

Loan type	Minimum down	Minimum credit	Mortgage insurance	2026 rate (30yr)
Conventional 97	3%	620	PMI until 20% equity	6.81%
Standard conventional	5%	620	PMI until 20% equity	6.81%
FHA	3.5%	580	Yes, life of loan	6.52%
VA	0%	620 (lender requirement)	None	6.34% to 6.54%
USDA	0%	640 (typical)	0.35% annual	6.55%
Jumbo	10% to 25%	700	Varies	6.87% to 6.94%

Use the mortgage calculator and the lender compare tool to model your specific program, rate, and down payment combination.

US Mortgage Interest Rates in 2026 ▼

As of September 11, 2026, current national average rates per Freddie Mac and Bankrate:

Product	Interest rate	APR
30-year fixed	6.76% to 6.82%	6.82% to 6.88%
20-year fixed	6.61%	6.71%
15-year fixed	6.09% to 6.19%	6.18% to 6.29%
10-year fixed	6.23%	6.32%
30-year FHA	6.27% to 6.52%	6.58%
30-year VA	6.34% to 6.54%	6.50% to 6.58%
30-year jumbo	6.87% to 6.88%	6.89% to 6.94%
5/1 ARM	6.43% to 6.49%	6.49% to 6.50%

What determines your specific rate:

Credit score. A 740 or above score earns the best pricing. A score of 620 to 679 typically costs 0.25% to 0.50% more per year.

Down payment and LTV. Less than 20% down triggers PMI. More down equals a lower rate at most lenders.

Loan type. FHA and VA loans have specific rate tiers that often run below conventional rates despite the insurance cost.

Loan term. The 15-year fixed runs roughly 0.60% to 0.70% below the 30-year but requires substantially higher monthly payments.

Points. Paying discount points at closing (each point costs 1% of the loan amount) buys your rate down by approximately 0.25% per point. Use the mortgage calculator to see whether buying points saves money given your expected time in the home.

Federal Reserve context. The Fed target range sits at 3.50% to 3.75% as of September 2026. Mortgage rates track the 10-year Treasury yield, which moved from 4.2% in early 2026 to 3.35% to 3.40% by September. Strong labor market data (162,000 jobs added in the latest report, unemployment at 4.1%) reduced the probability of further near-term cuts and pushed rates slightly higher in September.

Private Mortgage Insurance (PMI) ▼

If you put down less than 20% on a conventional loan, lenders require PMI. It protects the lender, not you, and adds to your monthly payment.

PMI cost: typically 0.2% to 2% of the loan amount annually, depending on your credit score, LTV ratio, and lender.

On a $350,000 loan with 5% down at 0.55% PMI: approximately $160 per month.

When PMI drops off: at 20% equity (80% LTV) based on the original amortization schedule, or earlier if you request cancellation once your loan balance reaches 80% of the original appraised value. The lender must automatically cancel PMI at 22% equity.

FHA mortgage insurance works differently. If you put down less than 10%, it stays for the life of the loan. Many buyers refinance from FHA to conventional once they reach 20% equity to eliminate this cost.

US Closing Costs: What You Actually Pay ▼

Closing costs on a US mortgage run 2% to 5% of the loan amount and must be paid at the closing table. They fall into three categories:

Category 1: Lender fees

Fee	Typical cost	Negotiable?
Origination fee	0.5% to 1% of loan	Yes
Underwriting fee	$400 to $900	Sometimes
Processing fee	$300 to $700	Sometimes
Application fee	$0 to $500	Often waived
Rate lock fee	$0 to $500 (30 to 45 days free)	Often waived
Discount points	Optional, 1% per point	Your choice

Category 2: Third-party and government fees

Fee	Typical cost	Negotiable?
Appraisal	$400 to $700	No
Title search	$200 to $500	Yes, shop around
Lender's title insurance	$500 to $1,500	Yes, shop around
Owner's title insurance	$500 to $2,000	Yes, recommended
Settlement or closing fee	$300 to $1,000	Yes
Recording fees	$50 to $250	No
Transfer taxes	$0 to $4,000	No (varies by state)
Survey	$300 to $600	Sometimes required
Credit report	$25 to $75	No

Category 3: Prepaids and escrow (not fees, but cash due at closing)

Item	Typical cost
Homeowners insurance (first year)	$1,200 to $3,000
Property tax escrow (2 to 6 months)	$1,000 to $3,000
Prepaid mortgage interest	$500 to $2,000
PMI escrow (if applicable)	$200 to $500

Full example: $400,000 purchase, $320,000 loan (20% down), mid-cost state:

Item	Amount
Down payment (20%)	$80,000
Origination fee (0.75%)	$2,400
Appraisal	$550
Title and settlement	$2,800
Recording and transfer taxes	$600
Prepaid interest, insurance, escrow	$4,000
Total cash to close	$90,350
Closing costs as % of purchase price	2.6%

Build your own global payment estimate using the budget calculator.

How to reduce closing costs:

Seller concessions. You negotiate for the seller to pay a portion of your closing costs. Limits vary by program: 3% to 6% for conventional depending on down payment, 6% for FHA, and up to 4% for VA.

Lender credits. You accept a slightly higher interest rate in exchange for the lender paying some or all of your closing costs. This is called a no-closing-cost mortgage. You pay nothing upfront but more over time.

Shop title insurance. Title insurance premiums vary significantly by provider. Getting quotes from multiple title companies is the highest-value comparison you can make among closing costs.

Is Mortgage Interest Tax-Deductible in the US? ▼

Yes, for borrowers who itemize deductions. The mortgage interest deduction lets you deduct interest paid on up to $750,000 of mortgage debt on a primary and secondary residence combined (reduced from $1 million for loans originated before December 2017).

Practical reality: In 2026, the standard deduction is $15,000 for single filers and $30,000 for married filing jointly. For most buyers, especially those with smaller loan balances, the standard deduction exceeds their total itemizable deductions including mortgage interest, so they take the standard deduction and receive no mortgage interest benefit.

Who actually benefits: High earners with large mortgage balances in high-tax states where property taxes and state income taxes add meaningfully to itemizable deductions.

Prepaid mortgage interest (points) paid at closing is fully deductible in the year of purchase if you meet IRS requirements.

Use the salary and tax calculator to model your net monthly cost after any applicable deduction.

The US Mortgage Process Step by Step ▼

1. Check your credit score. Pull your free annual credit reports from all three bureaus (Equifax, Experian, TransUnion) at AnnualCreditReport.com. Dispute any errors before applying. A higher score saves you real money on rate.

2. Calculate your budget. Use the affordability calculator and the budget calculator to know your ceiling and your required cash before you view a single home.

3. Get pre-approved, not just pre-qualified. Pre-qualification is an estimate. Pre-approval requires a full credit pull, income documentation, and a conditional commitment from a lender. In competitive markets, sellers reject offers without pre-approval letters.

4. Make an offer and sign the purchase agreement. Include contingencies: financing (protects you if the mortgage falls through), appraisal (protects you if the home appraises below the purchase price), and inspection.

5. Submit a full mortgage application. Your lender issues a Loan Estimate within 3 business days. Review every line. The Loan Estimate is your comparison document if you are shopping multiple lenders.

6. Appraisal and underwriting. The lender orders an independent appraisal of the property. Underwriting reviews your complete financial file. Respond to any documentation requests promptly.

7. Clear to close. Once underwriting approves the loan, you receive a Closing Disclosure at least 3 business days before closing. Compare it to the Loan Estimate.

8. Closing. You sign the mortgage documents, pay closing costs, and receive the keys. In most states, a title or escrow company manages the closing. Some states require an attorney.

Total timeline from accepted offer to closing: 30 to 45 days for most buyers.

Extra Payments and Refinancing in the US ▼

Most US mortgages have no prepayment penalty. Any amount you pay above the minimum monthly payment reduces your principal directly and saves future interest.

On a $350,000 loan at 6.8% over 30 years: paying $200 extra per month saves approximately $88,000 in total interest and cuts the term by nearly 6 years. Use the loan calculator with extra payments to model your exact scenario.

Refinancing makes sense when market rates drop materially below your current rate or your financial profile improves enough to qualify for better terms. The general rule is to compare the monthly payment saving against the cost to refinance and calculate how many months it takes to break even. Use the refinance calculator to run that math for your specific situation.

Renting vs Buying in the US ▼

At a 30-year rate of 6.8% and median home prices well above $400,000 in most major markets, owning is not automatically cheaper than renting in the short term. The math depends heavily on your local market, time horizon, and expected appreciation. Use the rent vs buy calculator to compare 5, 10, and 20-year total costs in your situation.

What is the conforming loan limit in 2026? ▼

$832,750 for a single-family home in most US counties. High-cost areas cap at $1,249,125. Loans above these limits are jumbo mortgages.

What is the minimum down payment in the US? ▼

0% for VA and USDA loans. 3% for Conventional 97, HomeReady, and Home Possible. 3.5% for FHA with a 580 or above credit score. 5% for standard conventional. 10% minimum for jumbo loans.

What is the current 30-year fixed mortgage rate? ▼

As of September 11, 2026, the 30-year fixed-rate mortgage averages 6.76% to 6.82% nationally per Freddie Mac and Bankrate. Your actual rate depends on credit score, down payment, loan type, and the lender.

What are closing costs in the US? ▼

Closing costs typically run 2% to 5% of the loan amount and include lender fees, title insurance, appraisal, recording fees, and prepaid items such as homeowners insurance and property tax escrow. Most costs must be paid at closing unless you negotiate seller concessions or lender credits.

What is PMI and when does it go away? ▼

PMI stands for private mortgage insurance. Lenders require it on conventional loans with less than 20% down. It typically costs 0.2% to 2% of the loan annually. It cancels automatically at 22% equity, or you can request cancellation at 20%.

Can I deduct mortgage interest on my US taxes? ▼

If you itemize deductions, you can deduct interest on up to $750,000 of mortgage debt. Most buyers in 2026 take the standard deduction ($15,000 single, $30,000 married) and receive no benefit, unless their total itemizable deductions exceed those amounts.

What is a global payment estimate in the US? ▼

A global payment estimate covers your down payment, all closing costs, and ongoing monthly payments including mortgage, PMI if applicable, property taxes, and homeowners insurance. Build yours with the budget calculator.

All Tools for US Mortgage Planning ▼

Tool	Use it for
Mortgage calculator	Monthly payment, 15 vs 30 year comparison
Affordability calculator	DTI-based maximum mortgage
Budget calculator	Global payment estimate including all closing costs
Salary and tax calculator	Net cost after mortgage interest deduction
Extra payment calculator	Interest savings and term reduction from extra payments
Refinance calculator	Break-even analysis for refinancing
Rent vs buy calculator	Long-term cost comparison
Loan calculator	Loan cost including extra payments
Debt consolidation calculator	DTI reduction before mortgage application
Lender compare	Rates across multiple US lenders
Compound interest calculator	Down payment savings growth
Invoice generator	For self-employed income documentation

Official Sources & References

FHFA HUD