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Compare a 'No-Cost' vs. Traditional Mortgage | Highland HomeLoans
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Compare a 'No-Cost' vs. Traditional Mortgage

Mortgage Payment Calculator

Wondering what a mortgage looks like broken down into monthly payments? Or how decreasing your down payment will impact what you pay over time? Use our calculators to run the numbers for yourself.

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Enter the sales price or the amount you plan to offer on a home.

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You can enter a dollar amount or percentage. Some programs allow down payments as low as 3%. Just remember, the more you put down, the less your payment will be.

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Your actual interest rate will be determined by your credit score, loan type and other factors.

Choose the length of the loan term you plan to use. Standard loan terms are 15 or 30 years.

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Enter the annual property taxes associated with the home you are purchasing. Many property listings include this information.

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Estimate the annual home insurance costs of the home you are purchasing.

CALCULATE
Your estimated monthly payment is
$1,176
30 year fixed loan
Principal & Interest
Property Taxes
Home Insurance
PMI
Total Payment
$1,379
Remaining Balance$196,478
Principal Paid$3,522
Interest Paid$7,936
See Complete payment schedule
YearBeginning BalancePrincipalInterestPaymentRemaining Balance
1$200,000$3,522$7,936$11,458$196,478
2196,4783,6667,79211,458192,812
3192,8123,8157,64311,458188,997
4188,9973,9707,48811,458185,027
5185,0274,1327,32611,458180,895
6180,8954,3007,15811,458176,595
7176,5954,4766,98211,458172,119
8172,1194,6586,80011,458167,461
9167,4614,8486,61011,458162,613
10162,6135,0456,41311,458157,568
11157,5685,2516,20711,458152,317
12152,3175,4655,99311,458146,852
13146,8525,6875,77111,458141,165
14141,1655,9195,53911,458135,246
15135,2466,1605,29811,458129,086
16129,0866,4115,04711,458122,674
17122,6746,6724,78611,458116,002
18116,0026,9444,51411,458109,058
19109,0587,2274,23111,458101,830
20101,8307,5223,93611,45894,309
2194,3097,8283,63011,45886,481
2286,4818,1473,31111,45878,334
2378,3348,4792,97911,45869,855
2469,8558,8242,63411,45861,030
2561,0309,1842,27411,45851,846
2651,8469,5581,90011,45842,288
2742,2889,9471,51011,45832,341
2832,34110,3531,10511,45821,988
2921,98810,77568311,45811,214
3011,21411,21424411,4580

Total Principal: $200,000

Loan Term 30 Yr Fixed 15 Yr Fixed 30 Yr Adjustable
Monthly Payment $954 $1,405 $926
Mortgage Rate 4%
Total Costs $307,804 $189,843 $300,082

Based on the numbers you provided, here is your mortgage estimate. Want to see other options? Just enter new numbers to calculate and compare.

 
Ready to get started?
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