Free Mortgage Payment Calculator

Useful Information

Mortgage Calculator Glossary

Using our Mortgage Repayment Calculator will help you quickly estimate your monthly payment, taxes and insurance payments. To help you better understand how the monthly payment amount is calculated we’ve included a glossary of key terms and variables in our calculation:

Home Price

Start by entering the purchase price of the home you wish to buy.

Down Payment 

Most loan programs have at least a 3% down payment requirement. It’s also important to note that on most loan programs if you’re putting less than 20% down, you will also need to account for PMI (Private Mortgage Insurance).  While our calculator defaults to 20% down, you can manually adjust how much you would like to put down (if you move below the 20% mark the calculator will automatically add in a PMI estimate).

Loan Program

If you’re getting a mortgage to buy a home you’ll need to consider the length of the program and your type of loan.  We’ve outlined a few common options, 30-year fixed, 15-year fixed, 5-1 ARM, and 3-1 Arms.

Interest Rate

We auto populate our mortgage calculator with the average current mortgage rate.  Based on your credit score, credit history, and down payment amount the actual interest rate you qualify for may vary.

Yearly Property Tax

We’ve taken the national average and included it as a default percentage. Please keep in mind, Taxes will vary from state to state.  For the most accurate estimate, you’ll want to consult your Mortgage Banker or click here for an online estimate in your area.

Home Insurance

According to the Federal Reserve Bureau, the average annual premium for homeowners insurance is between $300-$1,000 dollars. A quick call to your insurance agent should help you nail down estimated costs.

HOA Fees

 We know that this varies from neighborhood to neighborhood. Feel free to include your monthly premium for a more accurate estimate.

Note: Using an online mortgage calculator can help you quickly estimate your monthly mortgage payments, but it’s important to note that the calculator information is only as accurate as what you input. For an accurate estimate based on your specific financial situation, you should work with a Mortgage Banker to prequalify.


Get started with your digital mortgage.

No hassle, no obligation.


About Us
We’ve been helping customers afford the home of their dreams for many years and we love what we do.
HomeVantage Mortgage is a division of Austin Capital Bank SSB.
NMLS: 810021

Contact Us

3305 Steck Ave.
Austin, TX 78757
Phone: (512) 592-3840