Home Payment Estimator and Current Mortgage Rates
Estimate your monthly payments and explore your loan options.
Loan details
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Taxes and fees
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1.25% yearly, est monthly
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Estimated payment $0 per month
Principal and interest $0
Mortgage insurance PMI $0
Property taxes $0
Home insurance $0
HOA fees $0
Current market rates
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Principal vs interest over time
See how more of your payment goes toward ownership as time passes.
Interest
Principal
Type of home loans to consider
The loan type you select affects your monthly payment. Explore options to fit your purchasing scenario.
Most popular
Conventional loan
Backed by private lenders rather than the government. If you have strong credit with a solid down payment, this option often delivers competitive pricing and more flexibility.
Government
FHA loan
Insured by the Federal Housing Administration. Allows lower down payments and more flexible credit guidelines, with mortgage insurance required.
Veterans
VA loan
For eligible veterans and service members. Often allows zero down payment and no monthly PMI, though a funding fee may apply.
Rural
USDA loan
Designed for eligible areas. Can offer low to zero down payment options, with program specific fees and guidelines.
High value
Jumbo mortgages
For loans above conforming limits. Typically require stronger qualifications, larger down payments, and additional documentation.
Mortgage options and terminology
A few simple definitions to help you compare scenarios.
Loan term
The length of time you have to repay the loan. Longer terms usually reduce the monthly payment but increase total interest paid. Shorter terms raise the payment but can reduce total interest.
Fixed rate vs adjustable rate
A fixed rate stays the same for the life of the loan. An adjustable rate holds for a period, then can change based on the index and margin, which can increase or decrease payments.
Conforming vs non conforming
Conforming loans follow size and underwriting guidelines set by the agencies. Jumbo loans exceed those limits and are priced and approved directly by lenders.
Frequently asked questions
Quick answers to common questions buyers ask.
What is the principal of a loan?
The principal is the amount you borrow before interest and fees. As you make payments, part goes to interest and part reduces the principal balance.
How much mortgage can I get approved for?
Approval depends on income, credit, and debt ratios. I am a licensed REALTOR, not a lender. A licensed mortgage professional can provide a pre approval letter and accurate numbers for your situation.
What is a down payment?
The down payment is the portion of the purchase price you pay upfront. Some programs allow lower down payments, but the best fit depends on your cash, goals, and lender guidelines.
APR vs interest rate?
Interest rate is the cost of borrowing. APR includes the interest rate plus certain loan costs, so it is often higher and can help compare offers more evenly.
How much are closing costs?
Closing costs commonly land in the range of 2 percent to 5 percent depending on loan and location. Your lender will provide a loan estimate showing the specific fees for your scenario.
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