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Although there may be additional expenses added to your monthly payement, depending on the type of loan, you generally can use this rule of thumb to estimate the principal and interest payment for a 30 year, amortized mortgage.
Remember, there may be additional fees if you are using and FHA loan, or if you need private mortgage insurance. Be sure to add in 1/12 of your annual taxes and an estimate for 1/12 of your annual insurance - usually approximately 04.8% of your purchase price or loan amount
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Today's Rates:
| 30-yr Fixed | 3.87% | 4% | | 15-yr Fixed | 3.14% | 3.31% | | 1-yr Adj | 2.76% | 3.42% |
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