Monthly Payment
Estimate your monthly mortgage payment including principal and interest.
Important Disclosures — Please Read
Calculator Limitations. The calculations produced by these tools are based solely on the numbers you enter and are provided for illustrative and educational purposes only. They do not constitute a mortgage application, a pre-qualification, a pre-approval, a loan commitment, or an offer to lend. Lender Express Mortgage LLC makes no representation that any result reflects your actual borrowing capacity, qualification status, or available loan terms.
Rates, Costs, and Terms. Interest rates, annual percentage rates (APR), closing costs, and loan terms shown in any example are illustrative only and are not guaranteed. Actual rates and terms are determined at the time of loan application and are subject to change based on market conditions, lender guidelines, and individual borrower eligibility. Your actual rate may be higher or lower than any figure used in these calculators.
Payment Estimates. Monthly payment figures shown represent principal and interest only unless you have entered additional amounts for property taxes, homeowners insurance, or mortgage insurance. Your actual monthly obligation will be higher once taxes, insurance, HOA dues (if applicable), and any required mortgage insurance premiums are included. Escrow requirements vary by loan program and lender.
Refinance Considerations. Refinancing an existing mortgage may reduce your monthly payment but could increase the total finance charges paid over the life of the loan, particularly if the new loan term is longer than the remaining term on your current loan. A licensed loan officer can help you evaluate the full cost and benefit of refinancing for your specific situation.
Qualification Requirements. Loan qualification depends on numerous factors including but not limited to credit score, debt-to-income ratio, employment history, property type, appraised value, and available down payment. Not all borrowers will qualify for all loan programs. Results produced by the Pre-Qualification Estimator are estimates based on general DTI guidelines and do not account for all underwriting criteria.
Loan Estimate. Under federal law, you have the right to receive a Loan Estimate within three business days of submitting a complete mortgage application. The Loan Estimate will provide binding disclosures of your interest rate, monthly payment, and closing costs. You should review and compare Loan Estimates before selecting a loan. These calculators do not replace a Loan Estimate.
Illustrative Payment Example. For reference: a borrower purchasing a home at $450,000 with a 20% down payment results in a loan amount of $360,000. At a fixed interest rate of 6.500% for a 30-year term with assumed origination charges of 3% of the loan amount ($10,800), the Annual Percentage Rate (APR) would be 6.795%, and the estimated monthly principal and interest payment would be $2,275. This example does not include property taxes, homeowners insurance, or mortgage insurance, which are required and will increase your monthly payment. APR and payment example are for illustrative purposes only, assume a specific origination charge that may not reflect your actual loan costs, and do not represent a current offer or commitment to lend. Actual APR will vary based on your loan amount, interest rate, loan term, and the specific fees applicable to your transaction. The illustrative payment example above applies to all calculators on this page. All payment figures displayed are hypothetical estimates based on borrower-entered inputs and the same disclosure terms apply regardless of which calculator is used.