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Use Our Mortgage Payment Calculator Before Applying for a Home Loan
Before looking for a new home, equip yourself with the knowledge of how much you can afford. This mortgage payment calculator allows you to explore how altering key aspects of your mortgage loan, such as the cost of the home, down payment amount and interest rate, can impact your total monthly mortgage payment.
How to use our home loan calculator
Finding out your monthly mortgage payment is easy with our calculator. Simply input the cost of the home, down payment percentage, term in years and anticipated interest rate. Optional fields allow you to enter your monthly private mortgage insurance (PMI) cost and annual home insurance and property taxes.
Once you complete the fields, calculate your mortgage to see a breakdown of what your total monthly payment could look like.
Once you know how much you can afford on your monthly mortgage payments, you can explore various types of mortgages to see which makes the most financial sense for your situation. At Nationwide Bank, we offer fixed-rate, adjustable-rate and jumbo mortgage loans. Each provides differing benefits and limitations.
Get more mortgage information and apply now
Now that you have a better grasp of your monthly mortgage, prep yourself to get a mortgage loan with this checklist to get pre-qualified today with our easy online mortgage application.
Useful mortgage definitions
Monthly PMI – Your monthly cost for Private Mortgage Insurance (PMI). Normally, PMI is required if you have less than 20% of equity in your home.
Home Insurance – Coverage to provide damage protection for your home and personal property from a variety of events, including fire, lightning, burglary, vandalism, storms, explosions and more.
Property Taxes – This value represents an annual tax on a homeowners' property.