Mortgage Calculator
Estimate your monthly mortgage payment and see a full breakdown of costs.
$70,000 down
Estimated Total Monthly Payment
$2,220/mo
Principal & Interest
$1,770
Property Tax
$350
Insurance
$100
This calculator provides estimates only. Actual rates and payments may vary. Contact us for a personalized quote.
Understanding Your Mortgage Payment
Principal & Interest
The core of your payment goes toward repaying the loan balance (principal) and the cost of borrowing (interest).
Property Tax
Annual property taxes are typically collected monthly by your lender and held in escrow. Cook County rates vary by area. If you put 20% or more down, you may opt for a no-escrow loan and pay your property taxes on your own.
Homeowners Insurance
Required by lenders to protect your home against damage. Usually included in your monthly escrow payment. If you put 20% or more down, you may opt for a no-escrow loan and pay your homeowners insurance on your own.
PMI
Private Mortgage Insurance is required when your down payment is less than 20%. It can be removed once you reach 20% equity.
Ready to find out exactly what you qualify for? Our team will provide a personalized rate quote based on your financial situation.
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