Mortgage payment calculator
One of the most important steps in applying for a mortgage is calculating how much home you can afford. Although homeownership comes with some hidden costs like repairs and maintenance, closing costs are usually overlooked when calculating your monthly mortgage payment. Always make sure you have a list of the costs that will sum up your mortgage total.
The total amount you will pay for your home is primarily affected by the following factors:
- Loan amount
- Interest rate
- Loan term
What does a mortgage payment include?
The four main components of a mortgage payment are:
- Principal
- Interest
- Taxes
- Insurance
Estimate your monthly mortgage payments using our mortgage calculator. Once you have have determined what you want your loan payment to be, our team of mortgage experts will be here to help you through the mortgage loan process and get you into your next home.
Buy the home of your dreams
Get started today! Call toll free at 888-564-4328. If you have any questions, schedule an appointment with one of our mortgage loan specialists.
Information and interactive calculators are available to you only as self-help tools for your personal use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from a Industrial Federal Credit Union professional regarding all personal finance issues. Call 888-564-4328 or find a branch near you.
