Mortgage Calculator
Calculate your monthly mortgage payment with current Federal Reserve rates. Interactive tools for payment breakdown, amortization schedules, and total cost analysis.
Mortgage Details
Monthly Payment Breakdown
Principal & Interest$2,275
Property Tax$469
Home Insurance$150
Total Monthly Payment$2,894
Loan Summary
Loan Amount
$360,000
Total Interest
$459,160
Total Paid
$819,160
Payoff Date
Sep 2055
Amortization Schedule
Affordability Guidelines
28% Rule (Housing Ratio)
Monthly housing costs should not exceed 28% of gross monthly income
36% Rule (Debt-to-Income)
Total monthly debt payments should not exceed 36% of gross monthly income
Understanding Your Mortgage
- •Principal: The amount borrowed from the lender
- •Interest: The cost of borrowing, expressed as annual percentage
- •PMI: Private Mortgage Insurance required if down payment < 20%
- •Escrow: Property taxes and insurance collected with payment
Tips for Home Buyers
- •Aim for 20% down payment to avoid PMI
- •Compare 15-year vs 30-year loan total costs
- •Factor in all costs: taxes, insurance, HOA, maintenance
- •Get pre-approved to understand your buying power
Current Rate Environment
Mortgage rates are influenced by Federal Reserve policy, economic conditions, and bond market movements. Our calculator uses live rates from the Federal Reserve Economic Data (FRED) system.
Fed Funds Rate
Key policy rate
10-Year Treasury
Mortgage benchmark
Credit Score
Rate determinant