Conventional Mortgage Loan Payment Calculator

View 2018 Fannie Mae Loan Limits

Common Down Payments
Property Tax rate: 0 Homeowner's Insurance rate: 0

Payment Breakdown

Principal & Interest
PMI (coming soon)
Monthly Escrow
Mortgage Payment $


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Loan Breakdown

Minimum Down Payment 0%
Your Down Payment
Down Payment Percentage
Mortgage Loan Amount

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Mortgage Loan Summary

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About our Conventional Mortgage Payment Calculator

The conventional payment calculator calculates an accurate mortgage payment by accounting for various down payments, private mortgage insurance (PMI) (coming soon), property taxes, and homeowner's insurance.

** PMI ESTIMATE COMING SOON. The mortgage enviroment is continually changing, and PMI rates are dependent upon many factors, including credit scores, loan to value, debt to income, and more. PMI Rates are not available on loans with less than 3% down payments.

Conventional PMI

Loans with less than 20% down payments require PMI. PMI rates vary depending on down payment amount, credit scores, debt-to-income ratio, and overall loan profile.

PMI can be paid monthly or in one upfront lump sum. Once you have completed a full loan application a PMI estimate can be provided.

What is a conventional mortgage loan?

Conventional mortgages are just that -- Conventional. Before government backed loans, home buyers financed their purchase by making large down payments in order to get a loan from their local bank.

Conventional loans have evolved to become more efficient with Fannie Mae and Freddie Mac, however the premise is the same. PMI has made it easier to get conventional financing by allowing smaller down payments.

A conventional mortgage loan is generally considered a mortgage loan that meets guidelines established by Fannie Mae and/or Freddie Mac.

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If you're ready to take the next step and get preapproved for your new mortgage loan, we can match you with approved lenders here.

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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.
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*All calculations on www.WhatsMyPayment.com are for demonstration purposes only.
Every effort is made to maintain accurate calculations for each program listed. Actual numbers may vary.

What's My Payment, LLC & whatsmypayment.com are not affiliated with any government agency, nor do we originate mortgage loans.
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