![]() Your home or property may be repossessed if you do not keep up repayments on your mortgage. A 30-year term is 360 payments (30 years x 12 months. Payments: Multiply the years of your loan by 12 months to calculate the total number of payments. Escrow: The monthly cost of property taxes, HOA dues and homeowner's insurance. Please request a Mortgage Illustration before you choose a mortgage. Mortgage insurance: The mandatory insurance to protect your lender's investment of 80 or more of the home's value. This overpayment calculator does not include all of the information that you need to select or compare mortgages. Please note the calculator does not factor in any charges for early repayments of the total mortgage balance and is based on a capital repayment mortgage. Calculate your mortgage payments based on how much you borrow, your interest rate, mortgage term and payment schedule. Forbes Advisors Mortgage Calculator uses home price, down payment and other loan details to give you an estimate calculation on your monthly mortgage payments. It does not provide a precise calculation of the time or interest you could save, but is intended to give you information and guidance about the potential savings. The calculator is for illustrative purposes only. Compare different ways of making extra payments, such as changing frequency, making one extra payment a year, or switching to bi-weekly or weekly payments. The figure is rounded up or down accordingly for display purposes. Calculate how paying extra on a mortgage would affect your interest cost and repayment term.
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