When configuring your monthly mortgage payment, are you looking for a mortgage calculator that includes taxes and insurance?
Marimark Mortgage has a mortgage calculator for you! Use our Mortgage Calculator, which allows you to enter variables such as taxes and insurance to calculate your monthly mortgage payment.
How To Use the Mortgage Calculator
After you go to the Mortgage Calculator, click on the “mortgage” tab.
Then enter the following:
- Purchase price.
- Down Payment.
- Mortgage term: years.
- Interest rate: %.
- Property tax: $ per year.
- Property insurance: $ per year.
- PMI: %.
- First payment date.
After entering the information, click “Calculate.”
Then, a spreadsheet and chart will appear with information that includes:
- Monthly payment while paying PMI.
- Monthly payment while not paying PMI.
- A total number of payments.
- The total amount paid.
- Your payoff date.
Here is a breakdown of the terms that you may see when using the mortgage calculator:
Money that a buyer pays upfront during a real estate transaction.
The yearly fixed interest rate for the mortgage loan.
The monthly payment includes principal, homeowners insurance, property taxes, and interest.
The number of years over which a borrower will repay the loan.
PMI (Private Mortgage Insurance)
Mortgage insurance for conventional home loans.
Property insurance is the annual amount you expect to pay and is divided by 12 to determine the monthly homeowner’s insurance amount to be paid.
Property tax is the annual amount you expect to pay and is divided by 12 to get the monthly property tax amount to be paid.
The total of all the monthly payments over the term of the mortgage.
We specialize in conventional home mortgages, FHA, VA, and USDA mortgage options, refinance loans, and reverse mortgages. We’ve worked extensively with cash-out refinancing, and help clients to lower their monthly mortgage payments.