Mortgage Calculator (USA)

Use our Mortgage Calculator to estimate your monthly home loan payments, including principal, interest, taxes, and insurance. Plan your repayment schedule and make informed home-buying decisions!

Mortgage Information
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Total: 360 months (30 years)
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About US Mortgages

Conventional Loans: Not insured by the federal government. Typically require higher credit scores but offer competitive interest rates.

FHA Loans: Insured by the Federal Housing Administration. Allow lower down payments (as low as 3.5%) and are more forgiving of lower credit scores.

VA Loans: Guaranteed by the Department of Veterans Affairs. Available to veterans and active military members. Often require no down payment.

USDA Loans: For rural homebuyers, backed by the U.S. Department of Agriculture. Offer 100% financing for eligible borrowers.

Private Mortgage Insurance (PMI) is typically required when you make a down payment of less than 20% on a conventional loan.

Key facts about PMI:

  • Costs between 0.5% to 1.5% of the loan amount annually
  • Can be removed once you reach 20% equity in your home
  • Not required for FHA loans (they have their own mortgage insurance)
  • VA loans don't require any mortgage insurance
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Current Mortgage Rates
Loan Type 30-Year Rate
30-Year Fixed 6.75% - 7.25%
15-Year Fixed 6.00% - 6.50%
FHA 30-Year 6.50% - 7.00%
VA 30-Year 6.25% - 6.75%
5/1 ARM 5.75% - 6.25%
Rates as of July 5, 2025. APR shown for 30-year fixed rate mortgages.
Mortgage Affordability
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Mortgage Tips
  • 1. Aim for a credit score of 740+ for best rates
  • 2. Save at least 20% to avoid PMI
  • 3. Compare rates from multiple lenders
  • 4. Consider both 15-year and 30-year terms
  • 5. Get pre-approved before house hunting