Mortgage Calculator
Estimate your monthly payment in seconds. Plan smarter, buy with confidence.
Your Loan Details
You are NOT required to use Lifetime Capital Funding as a condition of the purchase, sale, or refinance of your property. You are free to shop around and select any mortgage lender or provider of your choice. There are frequently other settlement service providers available with similar services. You are free to shop around to determine that you are receiving the best services and the best rate for these services.
This mortgage calculator is an educational tool for estimation purposes only and does not constitute a mortgage offer, commitment, pre-qualification, or guarantee of any rate or term. Actual rates, terms, fees, and eligibility are determined solely by the lender based on your individual financial profile.
Understanding Your Payment
Breaking down each component of your monthly mortgage payment
Principal & Interest
This is the core of your mortgage payment — the amount that repays your loan balance (principal) and compensates the lender for lending you money (interest). Early payments are mostly interest; over time, more goes to principal.
Property Tax
Local governments assess annual property taxes based on your home's assessed value. Most lenders collect 1/12th of the annual amount each month and hold it in escrow, paying the tax bill on your behalf.
Home Insurance
Homeowner's insurance protects your property and belongings from damage or liability. Lenders require it as a condition of your loan. Florida homeowners should also consider separate flood and windstorm coverage.
PMI (Private Mortgage Insurance)
PMI is required when your down payment is less than 20% of the home price. It protects the lender if you default. Once your equity reaches 20%, you can typically request removal. PMI typically costs 0.5–1.5% of the loan annually.