Mortgage Calculator

Your home purchase in Colorado Springs is probably the single largest purchase you will make in your lifetime. There are many options when it comes to mortgages, and while we are not mortgage providers, we want to provide you with as much information as possible so that you can make the best-informed decisions when it comes to your home loan and how much down payment for a house. Calculating a mortgage payment amount is one of the first steps to buying a home.

Take a look at our tool and calculate your mortgage payment using the information for that home you have your eye on. When you are ready, we can get you in touch with a preferred lender so that they can get you on your way toward your home purchase. They will assess your credit history, existing debts and income and will be able to provide you with a variety of home loan options.

Calculate Your Payment

This Mortgage Affordability Calculator is a good first step when determining how much of a home you can afford when shopping for a home to buy in Colorado Springs. Enter the amount of the loan, interest rate, length of loan and amount of your down payment and you will see your monthly payment for principal and interest. Don't forget your monthly payment will include taxes and insurance, so you will have to add that in to have a total monthly mortgage payment amount.

Purchase price
Please enter here the amount you expect to pay for a home.
Enter a value
Down payment
Down payment is cash that you pay upfront for your home.
0.0%
Enter a value
Term in years
Number of years you have to pay.
years
Enter a value
Interest rate (per year)
The percentage of interest that you will pay on your mortgage for a specific term.
%
Enter a value
Property tax
Enter your property tax here if you know it.
per year
Enter a value
Home insurance
Most lenders require home insurance. Enter its price here.
per year
Enter a value
PMI
PMI is Private Mortgage Insurance which is usually required to pay if your Down payment less than 20%.
per month
Enter a value

Your total monthly payment


$

Principal & Interest
$
Home insurance
$
Property taxes
$
PMI
$
 

Current rates can be found online, or contact us to be put in touch with our preferred lender.

Learn 3 Ways to Calculate Your Payment

More About Home Mortgages

What is the Difference Between Prequalification and Preapproval?

11/20/2017 - Joe Boylan

What Do I Need to Get Prequalified for a Loan?

11/20/2017 - Joe Boylan

The Up-Front Costs of Buying a Home

11/07/2017 - Nicole Happel

Buying a House with Bad Credit: Essential Tips

07/10/2017 - Joe Boylan

Mortgage Prequalification Guide

04/12/2017 - Joe Boylan

Out of Pocket Expenses for Buyers

03/16/2017 - Kelly Raffaelli

Fears and Worries of Home Buyers

12/01/2016 - Courtney Gilmore

Understanding Private Mortgage Insurance (PMI) and Mortgage Insurance Premium (MIP)

04/13/2015 - Joe Boylan

Why Does my FICO Score Matter When I’m Buying A House?

04/13/2015 - Joe Boylan