Calculate my mortgage payment
It typically ranges from 0.58% to 1.86% of your total mortgage amount and you will need to factor this in if your down payment is less than 20%. Also known as private mortgage insurance-or PMI-this protects the lender in case you default on your mortgage. Otherwise, contact your local insurance agent to get a quote. If you’re considering a home, ask the real estate agent if they have any information about current insurance costs.
Homeowners insurance is required to protect you and your lender in the case of damage to your home. This number can usually be viewed on your recorder or assessor’s website-wherever you access property cards and other real estate records.
Whether you’re shopping around for a mortgage or want to build an amortization table for your current loan, a mortgage calculator can offer insights into your monthly payments.įollow these steps to use the Forbes Advisor mortgage calculator: