Mortgage Payment Calculator
Your monthly mortgage payment is principal and interest plus property taxes, homeowners insurance and, with less than 20% down, private mortgage insurance (PMI). Enter your numbers below for an estimate.
This payment calculator can be used to figure out monthly payments of a home mortgage loan, based on your Central Coast home’s sale price, the term of the loan desired, buyer’s down payment percentage, and the loan’s interest rate. This calculator factors in PMI (Private Mortgage Insurance) for loans where less than 20% is put as a down payment. Also taken into consideration are your Central Coast city property taxes, and their effect on the total monthly mortgage payment.
Or if you prefer you can come in and meet with a Certified Mortgage Loan Professional to determine what your payments will be on an Atascadero, Paso Robles, or Templeton home loan that is customized to you. (805) 238-3516.
Estimated monthly payment–
- Principal and interest
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- Property taxes
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- Homeowners insurance
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- Mortgage insurance (PMI)
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- Loan amount
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Estimate only, not a loan offer. PMI is estimated at 0.55% of the loan per year when the down payment is under 20%. Your actual rate, taxes and insurance will differ. Call (805) 238-3516 for a quote.
Serving North County
Spinnaker Financial makes home loans across North County. Explore our local pages: Home loans in Paso Robles · Atascadero mortgage help · Templeton mortgage options.
Frequently asked questions
How is my monthly mortgage payment calculated?
Your payment is principal and interest, plus property taxes and homeowners insurance, plus private mortgage insurance (PMI) if you put down less than 20%. The calculator above adds these up from your price, down payment, term and rate.
When do I need PMI?
You may need private mortgage insurance if you plan to put down less than 20% of the purchase price. Once your loan-to-value ratio drops below 80%, you may be able to refinance to remove it.
Is the calculator a loan quote?
No. It gives an estimate only. Your actual rate, taxes and insurance will differ. Call (805) 238-3516 or request a free quote for numbers based on your situation.
Further reading
Ready to talk about your home loan?
Tell us what you are planning, and we will walk you through your options.
Call us at (805) 238-3516