Not a loan offer
Real Mortgage Payment does not offer, originate, arrange, broker, service, underwrite, approve, or fund mortgage loans. The calculator does not create a loan application, preapproval, approval, rate lock, or commitment to lend.
Principal and interest estimates
The core calculation estimates monthly principal and interest using the loan amount, interest rate, and selected term. Actual payments may differ based on loan type, APR, fees, lender requirements, escrow setup, taxes, insurance, mortgage insurance, HOA dues, and other costs.
Optional monthly costs
Property tax, homeowners insurance, PMI, and HOA fields are optional estimates. These costs can change over time and do not change the principal-and-interest loan calculation.
Interest rates
Interest rates shown in the dropdown are illustrative. They are not advertised rates, available rates, lender quotes, or guarantees.
15-, 30-, and 40-year terms
The 15-, 30-, and 40-year options are included to compare payment math. Shorter terms generally raise the monthly payment and reduce lifetime interest. Longer terms generally lower the monthly payment and increase lifetime interest.
40-year terms may be less common for new purchase loans and may appear in certain modification or loss-mitigation contexts. Availability depends on lender, program rules, loan type, borrower qualifications, and applicable law.
Talk to professionals
Before buying, refinancing, modifying, or choosing a loan term, speak with a licensed lender or qualified financial, legal, tax, or housing professional.