Mortgage Calculator

Use our free Mortgage Calculator to estimate monthly mortgage payments, calculate home affordability, compare loan scenarios, and plan your home financing. Adjust home price, down payment, interest rate, loan term, taxes, insurance, and payment options to estimate your monthly payment before buying or refinancing a home in Washington, Oregon, Idaho, California, or Colorado. Calculate Your Mortgage Payment Now.

Zip Code

Aberdeen WA (Grays Harbor)
Aberdeen ID (Bingham)
Acampo CA (San Joaquin)
Acme WA (Whatcom)
Acton CA (Los Angeles)
Adams OR (Umatilla)
Addy WA (Stevens)
Adel OR (Lake)
Adelanto CA (San Bernardino)
Adin CA (Modoc)
Adna WA (Lewis)
Adrian OR (Malheur)
Agate CO (Elbert)
Agness OR (Curry)
Agoura Hills CA (Los Angeles)
Agoura Hills CA (Los Angeles)
Aguanga CA (Riverside)
Aguilar CO (Las Animas)
Ahsahka ID (Clearwater)
Ahwahnee CA (Madera)
Airway Heights WA (Spokane)
Akron CO (Washington)
Alameda CA (Alameda)
Alameda CA (Alameda)
Alamo CA (Contra Costa)
Alamosa CO (Alamosa)
Alamosa CO (Alamosa)
Albany CA (Alameda)
Albany OR (Linn)
Albany OR (Linn)

Home Price

Down Payment ($ or %)

Interest Rate

Loan Program (years fixed)

Property Tax (per year)

Home Insurance (per year)

HOA Dues (per month)

View full report

Payment breakdown

Amortization schedule

Payment breakdown

Monthly Payment

How is my monthly payment calculated?

Principal and Interest

Private Mortgage Insurance

Property Tax

Homeowners Insurance

HOA/Other

Amortization schedule

Principal Remaining Interest Paid Principal Paid

Estimated Payoff

Jul 2026

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Common Mortgage Calculator Terms

Sammamish Mortgage makes use of an innovative software platform that provides you with an instant rate quote. The system does this by comparing multiple lenders and investors from across the US, providing real-time results. All you need to do to get your rate quote is to input a few pieces of information, and within seconds, you’ll receive an accurate breakdown of the interest rates and costs available for you. You won’t have to supply any personal information to obtain this data, either. The mortgage experts at Sammamish Mortgage always work to ensure that the best interests of our clients are always met.

By Home Price

Work forward based on the price of the home you want to figure out your best loan term and potential monthly payment.

By Affordability

Use your down payment and monthly budget to discover how much home you can afford, then save up to $3000 by comparing top lender quotes.

By Monthly Payment

Input your monthly payment to discover what kind of loan will work best for you, then fill out an application with a lender to verify the estimate.

Bi-Monthly Payment

Pay every other week instead of once a month and save thousands over your loan term by reducing the principal amount quickly.

Home Price

You can input the amount you plan to offer for the home of your dreams or run the numbers based on the home list price.

Down Payment

Take your savings, deduct the amount you’ll need for closing costs, and what’s left will serve you as a down payment.

Interest Rate

Remember that your interest rate will vary depending on the lender you choose, your loan program, and your credit score.

Loan Program

Depending on the type of loan you get (FHA, VA, USDA, or conventional), your finances will be impacted differently.

Property Tax

The assessed value of the home multiplied by the local tax rate will give you the estimated amount of your property tax.

Home Insurance

Home value and location will both impact how much you will have to pay for home insurance to protect your investment.

Monthly Private Mortgage Insurance

You’ll need to pay PMI ranging from 0.5% to 2% of the loan amount if your down payment amounts to less than 20% of the home price.

HOA Dues

A homeowners association (HOA) will charge monthly or annual dues, so find out if your home is located in an affected neighborhood.

Additional Principal Payment

If you can make a larger than required payment every month, the additional funds can go to reduce your loan principal.

Annual Income

Divide your annual income by 12 months to arrive at the monthly income that will be used when determining your ability to repay.

Monthly Debts

Add all recurring expenses or payments that you owe every month (like credit card bills or auto loan payments) to arrive at your monthly debt.

DTI

Compare your monthly income and monthly debt to find out what your debt to income (DTI) ratio is, the lower this number is, the better.

Desired Monthly Payment

A bigger monthly payment means you’ll pay off your loan more quickly, cutting years and interest costs off your mortgage.

Biweekly Payments

If you make half of a mortgage payment every other week, it works out to a whole extra mortgage payment every year.

Estimated Payoff

Ask your mortgage company to provide you with your amortization schedule so you can learn your estimated payoff date.

Live Mortgage Rates by States

Compare today’s mortgage rates and get personalized rate quotes based on your location, loan type, and home financing goals.

Factors That Affect Your Mortgage Payment

Your monthly mortgage payment depends on several important factors. Understanding how each one affects your loan can help you estimate costs more accurately, compare financing options, and choose the mortgage that best fits your budget. Use our mortgage calculator to see how changes in these variables can influence your monthly payment and the total cost of your home loan.

Home Price & Down Payment

The more you put down upfront, the less you need to borrow. A larger down payment can lower your monthly payment and may help you avoid PMI.

Interest Rate

Your interest rate affects both your monthly payment and the total cost of the loan. Even a small rate difference can lead to significant savings over time.

Loan Term

A shorter loan term typically means higher monthly payments but less interest paid overall. A longer term offers lower monthly payments but increases total interest costs.

Taxes, Insurance & PMI

Property taxes, homeowners insurance, and PMI (if required) can add to your monthly mortgage payment and should be included when estimating housing costs.

Mortgage Payment Calculation Formula

Use the formula below to calculate your monthly mortgage payment and better understand how home loans are structured.

M = P · [ r(1 + r)ⁿ / ((1 + r)ⁿ − 1) ]

Estimated monthly mortgage payment.

Total loan principal, or the amount borrowed from the lender.

Monthly interest rate. To calculate it, divide the annual interest rate by 12. For example, an annual rate of 5% equals a monthly rate of 0.004167 (0.05 ÷ 12).

Total number of mortgage payments. Multiply the loan term in years by 12. For example, a 30-year mortgage results in 360 monthly payments (30 × 12).

Understanding Your Results

After clicking “View Full Report,” you’ll see a complete breakdown of your mortgage estimate, including your monthly payment, required upfront cash, and total interest costs. These insights can help you better understand the financial commitment of your home purchase and compare different loan scenarios with confidence.

Monthly Payment

Your estimated monthly mortgage payment includes the principal and interest based on the loan amount, interest rate, and loan term you selected. Depending on your loan and location, your payment may also include estimated property taxes, homeowners insurance, mortgage insurance (PMI), and HOA dues. Keep in mind that your final payment may vary based on lender requirements, escrow amounts, and your specific loan program.

Cash Required at Closing

This estimate shows the funds you’ll likely need to complete your home purchase. It typically includes your down payment, estimated closing costs, prepaid taxes and insurance, and other upfront expenses required at closing. The exact amount will depend on factors such as your loan program, property location, negotiated seller credits, and lender fees.

Total Interest Paid

This estimate represents the total interest you could pay over the life of your mortgage if you make all scheduled payments and keep the loan for its full term. Making extra principal payments, refinancing, or paying off your mortgage early can reduce the total interest you pay over time.

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How Much House Can You Afford?

Your monthly mortgage payment should fit comfortably within your overall budget. Many financial professionals use the 28/36 rule as a general guideline:

Spend no more than 28% of your gross monthly income on housing expenses.
Spend no more than 36% of your gross monthly income on total debt obligations, including your mortgage.

While these benchmarks can help estimate affordability, the right mortgage is one that supports your long-term financial goals and leaves room for savings, emergencies, and future expenses.

Compare Mortgage Loan Options Available in WA, OR, ID, CA & CO

30 Year Fixed Rate Mortgage

Jumbo Mortgage Loan

Cash Buyer Program

Bridge Loans

Diamond Homebuyer Program

Fixed Rate Mortgages

Investment Property Mortgage Loan

Second Home Mortgage Loans

Self-Employed Mortgage Loan

Our Reviews

Drake TW

July 16, 2026

Sandra and Shelly at Sammamish Mortgage made our home purchase painless. They were available to help us answer tough questions and we felt supported throughout the process. I would definitely recommend them and will use them again.

Kathleen

July 10, 2026

We worked with Christina and Barb. They were very good at explaining things and giving us all the info. The online portal was easy to upload our info on. They got us closed in about 3 weeks.

Hannah Polterock

July 9, 2026

Working with Sammamish Mortgage has been incredible. The whole team was always fast to respond to any questions, and we felt supported through the process. Really appreciated the reassurance and work everyone put in to make sure we closed on time, even with a fairly tight closing timeline of three weeks. Shoutout to Christina Heaps and Barb Kite, they are the absolute best!

Patrick Stancil

July 7, 2026

Ryan and his team (shout out to Shelly) are nothing but professional and the absolute best! They were highly responsive and frequently in touch to make sure we were set to close on time. I can't recommend this team enough!

Shelby Hallford

July 6, 2026

I had never heard of Sammamish prior to this home purchase, and it's not my first home purchase. Im so glad we found them, Jessica and Shawn were incredible! Jessica was out a day on the weekend early on when still rate shopping and a teammate of hers gave a rapid response, which mattered to us and helped move the process when other companies wouldn't. She beat out competitors and was responsive. Shawn stepped in to work through the logistical side of things once we had decided to proceed, and without him, I dont think we would've closed on time due to some slow communication with other partners during the process. He was the one I leaned on most (between lending, title, and buying agent), even with questions not meant for him, due to his knowledge and responsiveness. Would 100% recommend to friends and family!

Zachary Deeds

June 30, 2026

Extremely communicative, fast to close and great rates. Couldnt be better for first time buyers like ourselves.

Robert MacDonald

June 25, 2026

Drew Ebner and his team were fantastic. Great communication, very prompt in their responses, and really helped guide us through every step of the process. Drew gave us spreadsheets to help us estimate mortgage amounts across a variety of interest rates and home values, which really enabled us to have confidence when viewing homes. The pre-approval process was another confidence-builder for the whole process as well. Drew was always quick to answer questions, kept me in-the-loop the whole way, and Shelly was a fantastic partner as well. They really made this extremely simple, something my wife and I are enormously grateful for through this, our first homebuying experience. Highly appreciative and will recommend the team to anyone else we know who is looking to buy!

FAQ

What is a mortgage calculator used for?

A mortgage calculator estimates your monthly home loan payment based on the loan amount, interest rate, loan term, and other factors. It helps you understand what you’re likely to pay each month before you apply for a loan.

How does the mortgage calculator compute payments?

This tool takes the numbers you enter — such as loan amount, rate, and term — and applies them to a standard loan formula. It estimates your principal and interest payment, giving you an idea of what your mortgage might cost.

Can this tool include taxes and insurance?

Some mortgage calculators allow you to add estimated property taxes, homeowners insurance, and private mortgage insurance (PMI). You can include those to see a more complete picture of your total monthly housing payment.

Why should I use a mortgage calculator before applying?

Using a mortgage calculator helps you set realistic expectations about monthly payments based on today’s rates and your goals. It’s a useful planning step that gives you context before you talk to a loan officer or start the application process.

Does the calculator show how much interest I’ll pay over time?

Yes. By inputting your loan term and interest rate, the calculator can break down how much of each payment goes toward interest versus principal. That helps you see how much you’ll pay over the life of the loan.

What should I enter for the interest rate?

Use the interest rate you expect to qualify for based on current market conditions and your credit profile. If you’re unsure, you can use a published average rate as a placeholder and update it once you receive an actual quote.

Are the results exact?

The calculation gives a reliable estimate based on your inputs, but the final numbers on a loan offer may differ. Lender fees, rate locks, and other factors can influence your true payment. Think of this as a planning tool, not a final loan quote.