Mortgage Calculator
Calculate your estimated monthly mortgage payment including principal, interest, taxes, and insurance.
Mortgage Calculator
Estimate your monthly payment
Estimated Monthly Payment
$3,286
Principal & Interest: $2,661
Arizona average: 1.2%
Monthly Payment Breakdown
Loan Amount
$400,000
Down Payment
$100,000
Total Interest
$558,036
Total Paid
$1,183,036
Current Market Rates
Interest rates fluctuate daily. The default rate shown is an estimate. Contact me for current rates from preferred lenders.
Get Pre-Qualified →Down Payment Tips
- • 20% down avoids PMI
- • FHA loans: as low as 3.5%
- • VA loans: 0% down for veterans
- • First-time buyer programs available
Additional Costs
Don't forget to budget for:
- • HOA fees (if applicable)
- • Utilities
- • Maintenance (1-2% of home value/year)
- • Closing costs (2-5% of purchase price)
Understanding Your Mortgage Payment
Principal & Interest
The principal is the amount you borrow, while interest is what the lender charges you to borrow that money. Together, these make up the core of your monthly payment.
Property Taxes
Arizona's average property tax rate is around 1.2% of assessed home value annually. This is divided into monthly payments and held in escrow by your lender.
Home Insurance
Homeowners insurance protects your investment. Lenders require it, and it's typically paid monthly through your mortgage escrow account.
PMI (Private Mortgage Insurance)
If your down payment is less than 20%, you'll pay PMI until you reach 20% equity. This protects the lender if you default on the loan.