*The mortgage calculator is intended to be used for educational purposes only. Actual available rates and monthly payment amounts are subject to market fluctuations and will depend on a number of factors, including geography and loan characteristics.
8 steps to calculate your payment
1. Enter the home price for a Purchase or the Home Value for a refinance.
2. Input the amount of your down payment (if you're buying) or the amount of equity you have (if you're refinancing). You can input either a dollar amount or percentage.
3. Enter the length (term) of your loan. (Usually 30 years, but could be 20, 15 or 10)
4. Enter your interest rate. Request an Instant or Custom Rate Quote below.
5. Enter the property tax amount. (Use 1% of the purchase price to estimate)
6. Enter the homeowners insurance amount. (Use .4% of the purchase price to estimate)
7. Enter the mortgage insurance factor. This will vary based on Loan Type, credit score and loan to value ratio.
8. Enter HOA Dues if applicable.
Important Note(s): All Murray Mortgage Solutions clients gain exclusive access to a variety of custom loan analysis tools. This calculator should only be used for a base level understanding of the monthly payment calculation.
Quick Quote
The Quick Rate Quote process will request general information for your loan scenario such as Loan Purpose, Property Type, Annual Income, Property Zip Code, and Estimated Credit Score Range. It will only take around 1 minute to complete the request.
Within 30 minutes of submitting your request, you will receive an email outlining the Rate Quote along with an invitation to Apply. It's important to note that Instant Rate Quotes are subject to change due to the limited information they're based on. We suggest using the Custom Rate Quote process outlined below in order to ensure you receive as accurate of information as possible.
Custom Quote
The Custom Rate Quote process will invite you to create an account and complete an application. It will only take around 5 minutes to complete this process.
Within 1 Hour of submitting your request, you will receive an email outlining the Rate Quote. If you'd like to move forward, simply respond to the email so we can schedule a more in depth meeting regarding your goals.