Loan Calculator

A mortgage calculator estimates your total monthly housing payment, including principal, interest, taxes, and insurance, based on your loan amount, interest rate, and loan term.

How Is My Monthly Mortgage Payment Calculated?

Your payment is calculated using your loan amount, interest rate, and loan term to determine principal and interest, then adding estimated property taxes and homeowners insurance. In Los Angeles County, property taxes are assessed under California’s Proposition 13 at a base rate of 1% of your home’s purchase price, though most LA County buyers pay an effective rate of about 1.1% to 1.5% once voter-approved local assessments and bonds are added. If your down payment is less than 20%, your payment will also include private mortgage insurance (PMI) until you reach 20% equity.

Is an Online Mortgage Calculator Accurate?

An online mortgage calculator gives a reliable estimate for planning purposes, but it can’t account for your specific credit profile, loan program, or current rate lock. For an accurate, personalized number, a pre-approval from a licensed loan advisor is required.

Using a loan calculator does not replace the expertise of our loan advisors. Please contact us to review your goals and obtain a mortgage pre-approval. Learn why a pre-approval matters before you start shopping for a home, from Mark Cohen.