Rekonnection
Free Tool

Mortgage Calculator

Estimate your monthly payment for Conventional, FHA, VA, and USDA loans — including taxes, insurance, HOA, and PMI/MIP.

Loan Type

Loan Details

$
$
%
%
$320,000
0%6.5% annual rate15%

Additional Costs

$

approx $400/mo

$

approx $100/mo

$

Private Mortgage Insurance (PMI)

%

No PMI — down payment ≥ 20%

Typical PMI Rates

• Excellent credit (760+): 0.20%–0.50%

• Good credit (700–759): 0.50%–1.00%

• Fair credit (620–699): 1.00%–2.00%

Estimated Monthly Payment

$2,523

Conventional

30-yr · 6.5% APR

Principal & Interest
$2,023/mo
Property Tax
$400/mo
Home Insurance
$100/mo

Loan Summary

Home Price$400,000
Down Payment$80,000 (20.0%)
Base Loan$320,000
Effective Loan$320,000
Interest Rate6.5%
Loan Term30 years
Monthly P&I$2,023
Total Interest$408,142
Total of Payments$728,142

Affordability Tips

💡

Keep housing costs below 28% of gross monthly income.

📉

A 20% down payment eliminates PMI and reduces monthly costs.

🏦

Compare rates from multiple lenders to save thousands.

📅

Extra principal payments can shorten your loan term significantly.

📊

Get Your Mortgage Report

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