USA Mortgage AI

Mortgage Calculator - Calculate Your Payment

Get instant mortgage payment estimates and compare rates from top US banks

Mortgage Payment Calculator
Adjust values below to calculate your monthly mortgage payment instantly
$300,000
$50K$2M
$60,000
0%50%
6.5%
1%15%
30 years

🏡 Additional Monthly Costs

💵 Your Monthly Payment

📊 Loan Summary

Loan Amount:$240,000
Down Payment:$60,000 (20%)
Total Loan Cost:$0
Total Interest Paid:-$240,000

This calculator provides estimates only. Consult with a mortgage professional for accurate rates.

Compare Bank Offers

Compare mortgage rates and terms from top lenders to find the best deal for your situation

Select up to 4 banks to compare rates and terms side-by-side

0 of 4 selected

FEATURED
J
JPMorgan Chase

National Bank

Interest Rate7.125%
APR7.25%
Closing Costs$3500
Points0.5
Processing Time30-45 days
FEATURED
W
Wells Fargo

National Bank

Interest Rate7.15%
APR7.28%
Closing Costs$3200
Points0.25
Processing Time25-40 days
FEATURED
T
Truist Bank

Regional Bank

Interest Rate7.12%
APR7.26%
Closing Costs$3300
Points0.5
Processing Time30-40 days
FEATURED
R
Rocket Mortgage

Online Lender

Interest Rate6.95%
APR7.12%
Closing Costs$2800
Points0
Processing Time15-25 days
FEATURED
B
Better.com

Online Lender

Interest Rate6.88%
APR7.05%
Closing Costs$2500
Points0
Processing Time20-30 days
FEATURED
N
Navy Federal Credit Union

Credit Union

Interest Rate6.75%
APR6.89%
Closing Costs$2200
Points0
Processing Time25-35 days
Want to compare more banks?(0/4 selected)

📊 MARKET INFO

Updated: 6/8/2025
30-Year Fixed
7.12%
+0.05% this week
15-Year Fixed
6.45%
-0.12% this week
Avg Mortgage
$375K
National average
Avg CC Debt
$6,194
Per household
Avg Down Pay
13.6%
First-time buyers
Avg Home Price
$417K
+2.3% YoY

Debt-to-Income Ratio

28%

Recommended max

Avg Loan Term

29.5

Years

Avg Closing Costs

$6,905

Including fees

Smart Money-Saving Tips

Expert strategies to reduce your mortgage costs and save thousands over the life of your loan

Increase Your Down Payment
Every 1% increase in down payment can save you thousands in interest over the life of your loan.

Aim for 20% down payment to avoid PMI and get better rates.

Potential Savings:
Save $200-400/month
Consider a Shorter Loan Term
15-year mortgages typically offer lower interest rates and save significant money long-term.

A 15-year loan can save you over $100,000 in interest compared to 30-year.

Potential Savings:
Save $100K+ total
Improve Your Credit Score
A higher credit score can qualify you for better interest rates and loan terms.

Increase your score by 50+ points to potentially lower your rate by 0.25-0.5%.

Potential Savings:
Save $50-150/month
Shop Around for Insurance
Home insurance costs vary significantly between providers for the same coverage.

Get quotes from 3-5 insurance companies to find the best rate.

Potential Savings:
Save $300-800/year
Consider Bi-Weekly Payments
Making bi-weekly payments instead of monthly can pay off your mortgage years earlier.

26 bi-weekly payments = 13 monthly payments per year, reducing loan term by 4-6 years.

Potential Savings:
Save 4-6 years
Factor in All Costs
Don't forget about property taxes, HOA fees, maintenance, and utilities in your budget.

Budget an additional 1-3% of home value annually for maintenance and repairs.

Potential Savings:
Avoid surprises
Pro Tips for Maximum Savings

Before You Apply:

  • • Check your credit report for errors
  • • Save for a larger down payment
  • • Pay down existing debts
  • • Avoid major purchases or credit inquiries
  • • Gather all financial documents

During the Process:

  • • Shop around with multiple lenders
  • • Negotiate closing costs and fees
  • • Consider different loan terms
  • • Lock in your rate when favorable
  • • Review all documents carefully

What Our Users Say

Thousands of homeowners trust our mortgage calculator

"This calculator helped me understand exactly what I could afford. The smart tips saved me $15,000!"

JS

John Smith

First-time Homebuyer

"The bank comparison feature helped me find the best rate. I saved $200 per month!"

MJ

Maria Johnson

Real Estate Investor

"The smart tips section taught me strategies I never knew existed. Highly recommended!"

RW

Robert Wilson

Refinancing Customer