Mortgage Calculator
Calculate your monthly payment and see exactly what you can afford
Property Details
Additional Costs
Your Monthly Payment
Principal, Interest, Taxes, Insurance & HOA
Payment Breakdown
Loan Summary
Over 30 Years
Understanding Your Mortgage
Principal & Interest
Your monthly mortgage payment goes toward both the loan amount (principal) and the cost of borrowing (interest). Early payments are mostly interest, but over time more goes to principal.
PMI (Private Mortgage Insurance)
If your down payment is less than 20%, lenders typically require PMI to protect against default. Once you reach 20% equity, you can request to remove PMI.
Property Taxes
Arizona property tax rates average around 1% of home value annually. Your lender collects this monthly and pays it on your behalf through an escrow account.
Closing Costs
Typically 2-5% of the home price, closing costs include appraisal fees, title insurance, origination fees, and other transaction costs. Plan for these upfront expenses.
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