This calculator calculates your mortgage settlement charges (or closing costs) for a given set of loan terms. The calculator lumps settlement charges into two categories: origination charges and other settlement services.
Payments are shown for principal and interest (P+I) and combined (P+I+T+I) payments. Combined payments include insurance, taxes, and private mortgage insurance where applicable.
If you enter a loan amount that is more than 80% of the home's purchase price, the calculator estimates a monthly amount for private mortgage insurance (PMI). Mortgage lenders generally require that you obtain mortgage insurance if your down payment is less than 20% of the home purchase price.