🇺🇸 US State Mortgage Calculators
Calculate mortgage payments for all 50 US states plus Washington DC. Includes accurate property tax rates, PMI calculations, and state-specific closing costs. Find out exactly how much house you can afford!
View All US States🇨🇦 Canada Mortgage Calculators
Calculate mortgage payments for all Canadian provinces and territories. Includes CMHC premiums, land transfer taxes, and specialized Canadian mortgage tools. Navigate Canada's unique mortgage landscape!
View All Provinces🚀 Advanced Mortgage Tools - Save $50K+ in Interest!
Don't just calculate payments - optimize your entire mortgage strategy! Our advanced tools help you save thousands and make smarter decisions.
Advanced Mortgage Calculator
Complete mortgage calculator with amortization schedule and extra payment analysis
Amortization Calculator
Generate detailed amortization schedules with principal and interest breakdown
Mortgage Payoff Calculator
See how extra payments can save you thousands and years off your mortgage
Mortgage Refinance Calculator
Determine if refinancing makes sense with break-even analysis and savings calculation
Total Interest Calculator
Calculate the total interest paid over your mortgage lifetime and compare scenarios
Compare Mortgage Options
Compare two mortgage loans side-by-side to find the best option for your needs
CMHC Premium Calculator
Calculate CMHC mortgage insurance premiums for Canadian mortgages
FHSA Investment Calculator
Calculate First Home Savings Account growth and tax benefits for Canadians
🏆 Why 500,000+ Users Trust Our Mortgage Calculators
✅ Accurate & Updated
Our property tax rates, PMI rates, and CMHC premiums are regularly updated from official government sources to ensure accuracy. No nasty surprises at closing!
Verified by licensed mortgage professionals🌍 Complete Coverage
Mortgage calculators for all 50 US states, Washington DC, and all 13 Canadian provinces and territories. No location left behind - we've got you covered!
63 locations with local tax rates & regulations⚡ Fast & Free
No registration required, no ads, no hidden fees. Get instant calculations on any device with our mobile-friendly design. Start calculating in 3 seconds!
Average calculation time: 2.3 secondsJoin 500,000+ Smart Home Buyers Who Saved Money
"These calculators helped me save $85,000 in interest by choosing the right loan term and lender. Wish I found this sooner!" - Sarah M., First-time buyer
Understanding Mortgage Calculations
Mortgage payments typically consist of four components, often called PITI:
- Principal: The amount that goes toward paying down your loan balance
- Interest: The cost of borrowing money from the lender
- Taxes: Property taxes collected by your local government
- Insurance: Homeowner's insurance and mortgage insurance (PMI/CMHC if applicable)
Early in your mortgage, most of your payment goes toward interest. Over time, more goes toward principal as you build equity.
United States
- 30-year amortization is standard
- PMI required with <20% down payment
- Property tax rates vary significantly by state
- Closing costs typically 2-5% of home price
- Fixed rates common for full term
Canada
- 25-year amortization for insured mortgages
- CMHC insurance required with <20% down
- Land transfer tax varies by province
- Legal fees and taxes for closing
- Rate typically renewable every 1-5 years
- Check your credit score: Higher scores typically qualify for better interest rates
- Save for down payment: Aim for 20% to avoid mortgage insurance, but programs exist for less
- Get pre-approved: Know your budget before house hunting
- Factor in all costs: Don't forget property taxes, insurance, maintenance, and utilities
- Consider location: Property taxes and insurance costs vary significantly by area
- Use our calculators: Test different scenarios to find what works for your budget
For Canadian first-time buyers, explore the FHSA (First Home Savings Account) and various provincial programs that may offer down payment assistance.
🎓 Master Your Mortgage - Avoid $50K+ Mistakes!
Common First-Time Buyer Mistakes
- Not getting pre-approved - Know your budget before shopping
- Only looking at monthly payments - Total interest matters more
- Ignoring closing costs - Can add $10K-$15K to your purchase
- Not shopping lenders - Rates can vary by 0.5%+ between lenders
- Maxing out your budget - Leave room for unexpected expenses
Smart Money-Saving Strategies
- Compare ALL costs - Use our calculators for true comparison
- Consider 15-year mortgages - Save $100K+ in interest
- Make extra payments - Even $50/month saves thousands
- Improve credit first - Each 20-point increase saves money
- Time your purchase - Avoid peak buying seasons for better deals
💡 Pro Tip: The Hidden $50K+ Savings Secret
Most people focus only on interest rates, but loan terms, PMI removal strategies, and extra payment timing can save you more money than a 0.5% rate reduction. Use our advanced calculators to uncover these hidden savings!
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💡 Frequently Asked Questions - Get Expert Answers
The golden rule: Your housing payment shouldn't exceed 28% of your gross monthly income, and total debt payments shouldn't exceed 36%. Our calculators factor in your income, debts, down payment, interest rate, property taxes, PMI/CMHC, and other costs to determine exactly how much house you can afford.
Example: With a $80,000 salary, you can typically afford a home costing $240,000-$320,000, depending on your down payment, debts, and local taxes.
Refinancing makes sense if you can get a rate that's at least 0.5-1% lower than your current rate, plan to stay in the home for several years, and the savings outweigh closing costs.
Use our refinance calculator to determine your break-even point and potential savings. Many homeowners save $200-$500+ per month with refinancing!
- Shop multiple lenders - Rates can vary by 0.5%+ between lenders
- Improve your credit score before applying for better rates
- Make a larger down payment to avoid PMI (20%+ recommended)
- Consider different loan terms - 15-year vs 30-year mortgages
- Use our comparison tools to analyze total costs over the loan lifetime
Fact: Even a 0.25% rate difference can save tens of thousands over 30 years!
Extra payments can save you tens of thousands in interest and years off your loan!
Real Example: Adding just $100/month to a $300,000 mortgage at 6% can save over $50,000 in interest and pay off the loan 4.5 years early.
Pro Tip: Use our extra payment calculator to see your specific savings and create a payoff strategy that works for your budget.
PMI (Private Mortgage Insurance) is required in the US when your down payment is less than 20% of the home's value. It protects the lender if you default on the loan.
Cost: PMI typically costs 0.3% to 1.5% of the loan amount annually ($75-$375/month on a $300K loan).
Good News: PMI can be removed once you reach 20% equity in your home through payments or appreciation!
CMHC (Canada Mortgage and Housing Corporation) provides mortgage insurance for Canadian homebuyers with down payments less than 20%.
Premium Range: 0.6% to 4.0% of the mortgage amount, depending on the loan-to-value ratio and amortization period.
Example: On a $400,000 home with 10% down, CMHC premium could be $10,800-$14,400.
🚀 Ready to Find Your Perfect Home Budget?
Don't leave $50,000+ on the table! Use our calculators to discover exactly how much house you can afford and avoid costly mortgage mistakes.
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📋 Important Disclaimer & Professional Guidance
These mortgage calculators provide estimates for educational purposes only. Actual mortgage terms, rates, taxes, and fees may vary based on your credit profile, lender requirements, and local regulations. Property tax rates are based on average rates and can vary significantly within states/provinces.
Always consult with qualified mortgage professionals and verify current rates before making financial decisions. Our calculators are tools to help you prepare, but professional advice is essential for your specific situation.