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Calculate Your Mortgage Payment.

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Original Mortgage

New Mortgage

All Payment Total Loan Amount Total Interest Paid

Payment Breakdown

information
Payment Breakdown

A breakdown of your total payment so you can see where money is allocated.

$1,915

per month

  • Principal & Interest
  • Taxes
  • Insurance
  • HOA Dues
  • PMI
  • Extra Payment
  • Monthly Payment
  • Total Payment
  • Home Value:
  • Mortgage Amount:
  • Monthly Principal & Interest:
  • Monthly Extra Payment:
  • Monthly Property Tax:
  • Monthly Home Insurance:
  • Monthly PMI:
  • Monthly HOA Fees:
  • Total # Of Payments:
  • Down Payment:
  • Principal:
  • Total Extra Payment:
  • Total Interest Paid:
  • Total Tax, Insurance, PMI and Fees:
  • Total of all Payments:
Savings Payment Amount Shorten Loan Term By

Early Payoff Strategy

information
Early Payoff Strategy

Add an extra payment and see how many months you can eliminate on the back end of the loan.

Lump Sum Payment

information
Lump Sum Payment

Shorten your loan term by paying a lump sum all to principal.

Total Savings Monthly Savings

Savings

information
Payment Breakdown

A breakdown of your total payment so you can see where money is allocated.

1 Years Savings
Years 1 years
Cash Savings Difference Equity

Cash Savings

information
Early Payoff Strategy

Add an extra payment and see how many months you can eliminate on the back end of the loan.

Origin Loan New Loan +/-
Closing Cost
Principal $446.61 $396.84 $778.35
Interest $450.54 $490.51 $630.44
Cash savings $219.78 $710.68 $782.01

Difference in Equity

information
Lump Sum Payment

Shorten your loan term by paying a lump sum all to principal.

Original Principal Remaining
New Principal Remaining $446.61
Difference in Equity $450.54
All Payment Total Loan Amount Total Interest Paid

Payment Breakdown

information
Payment Breakdown

A breakdown of your total payment so you can see where money is allocated.

$1,915

per month

  • Principal & Interest
  • Taxes
  • Insurance
  • HOA Dues
  • PMI
  • Extra Payment
  • Monthly Payment
  • Total Payment
  • Home Value:
  • Mortgage Amount:
  • Monthly Principal & Interest:
  • Monthly Extra Payment:
  • Monthly Property Tax:
  • Monthly Home Insurance:
  • Monthly PMI:
  • Monthly HOA Fees:
  • Total # Of Payments:
  • Down Payment:
  • Principal:
  • Total Extra Payment:
  • Total Interest Paid:
  • Total Tax, Insurance, PMI and Fees:
  • Total of all Payments:
Savings Payment Amount Shorten Loan Term By

Early Payoff Strategy

information
Early Payoff Strategy

Add an extra payment and see how many months you can eliminate on the back end of the loan.

Lump Sum Payment

information
Lump Sum Payment

Shorten your loan term by paying a lump sum all to principal.

The calculator located throughout our website is made available by one or more third-party service providers. The pre-selected interest rate of 6.375%, (6.580% Annual Percentage Rate) known as “APR” will cost the borrower $3,057.60 in points paid at closing.

In addition to discount points provided, the APR also includes an average of costs a borrower would pay for tax service, flood hazard determination, and closing-related services, as permitted by regulation and law. Other charges may include, as applicable to the loan program and permitted by regulations, those for appraisals, credit reports, title insurance, and other miscellaneous costs. This rate calculation was performed on 9/23/2022 at 10:57 AM EST. Note that your actual rate, payment and costs could be higher. Rates change daily, Talk to a Lendmire mortgage expert to get an official loan estimate before choosing a loan.

Assumptions:

Lenders Calculate Rates Using Assumptions: The 6.375% Pre-Selected Rate Used By Our Calculator Assumes The Following:

  • You’re Buying a Single-Family, Primary Home Residence.
  • Purchase Price-$350,000.
  • Loan Amount-$280,000.
  • Monthly Property Taxes-$175.00(350,000 Purchase Price x .60% Estimated Tax Rate = $2,100 Per Year / 12 Months = $175.00 Per Month.
  • Monthly Homeowners Insurance-$100.00
  • Monthly HOA Fee-$0.00
  • 30YR Fixed Rate Conventional Mortgage.
  • Fees Estimated by Smartfees For Zip Code 28607.
  • Closing Costs To Be Paid Up Front, Not Rolled Into Loan.
  • Your Debt-to-Income Ratio Is Less Than 30%.
  • Your Credit Score Is 740 or Higher.
  • A Loan to Value Ratio (LTV) of 80%.
  • You Will Escrow Taxes and Insurance.
  • 30 Day Rate Lock.
  • You Will Not Make Additional Monthly Payments.

Note these amounts are for illustrative purposes only and are subject to change. The actual payment amount will be greater. This calculator is not intended to be an advertisement for a product or service at any of the terms used herein. It is not intended to offer any tax, legal, financial, or investment advice. All examples are hypothetical and are for illustrative purposes. Lendmire does not provide legal or tax advice. We cannot guarantee that the information provided is accurate, complete, or timely. Federal and state laws and regulations are complex and are subject to change. Changes in such laws and regulations may materialize pre-and/or after-tax investment results. Lendmire makes no warranties about this calculator or the results obtained by its use. Lendmire disclaims any liability arising out of your use of, or any tax position taken in reliance on, this calculator. Always consult an attorney or tax professional regarding your specific legal or tax situation.

Applicants should not assume that any debt will be eliminated by refinancing since the debts are consolidated into a new loan. As a result of refinancing, your total finance charges may be higher over the life of the loan. Payments may reflect longer loan terms and higher interest charges over the life of the loan. Interest and other charges, if assessed, will accrue from the date of disbursement of the loan funds until the first payment is due. Low documentation programs may have a higher interest rate, more points and more fees than other products requiring documentation.

Lendmire is happy to provide specific information on your transaction upon request. The following APR examples are for a typical transaction and are only examples. Please call (828) 256-2183 or email us at brandonmiller@lendmire.com to learn more about a specific APR for your transaction. Monthly payments shown do not include PMI, taxes, insurance, or other applicable escrows. Your actual savings will vary, and your payment obligation will be higher. The stated interest rate may change or not be available at the time of loan commitment or lock-in. Get an official loan estimate before choosing a loan. This is not a commitment to lend. Rates and terms are subject to change at any time. Rates and terms are also subject to change based on the borrower’s eligibility and market conditions. Not all borrowers will meet the requirements necessary to qualify.

Disclaimer:

Results received from this calculator are designed for comparative purposes only, and accuracy is not guaranteed. We do not guarantee the accuracy of any information or inputs by users of the software. This calculator does not have the ability to pre-qualify you for any loan program which should be verified independently with one of our Loan Consultants.

Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Information such as interest rates and pricing are subject to change at any time and without notice. Additional fees such as HOA dues are not included in calculations. All information such as interest rates, taxes, insurance, PMI payments, etc. are estimates and should be used for comparison only. We do not guarantee any of the information obtained by this calculator.

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