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Mortgage Calculator

Get a clearer snapshot of your loan and explore what’s possible with our handy mortgage payment calculator. Over time, as markets change grow, interest rates will vary. You may have an opportunity to save over the life of the loan. Estimate your monthly mortgage payment below to find out.

This is just one of several free online mortgage calculators we offer about various home loan related scenarios. Questions? Contact us and a lending professional will follow back up with you.

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Beat Other Homebuyers Stuck on the Sidelines

Apply now as mortgage rates fall! We’re here to help you meet your homeownership goals—like buying your first or next home, or lowering your current interest rate and payments or accessing cash by refinancing. We also prioritize speed for our clients, with an average turnaround of only 21 days from application completed to ready to close for purchase loans!1

This calculator is indeed solely for general information and educational purposes and is not a commitment to lend. Greater Nevada Mortgage does not guarantee the accuracy of the calculations or the availability of any of the terms provided. Your actual rate, payment and costs could be higher. Get an official Loan Estimate before choosing a loan. The calculator is not intended in any way as financial, insurance, tax or legal information regarding your financial situation, please consult with a financial advisor.

Other Mortgage Calculators

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Down Payment Calculator

The math seems simple: the higher your down payment, the lower your mortgage loan amount will be, and the less you will pay in interest over time. The size of your down payment might also impact your loan eligibility.

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Adjustable Rate Mortgage (ARM) Calculator

An adjustable rate mortgage (ARM) is a type of home loan with a variable rate of interest. After an initial fixed time period, rates may adjust over time in line with the housing market and other economic factors.

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Debt-to-Income Calculator

Your debt-to-income ratio is the percentage of your gross income used to cover your mortgage and other debt payments.

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Loan Refinance Calculator

The decision to refinance a home mortgage can involve many factors. You might want to take cash out of your home at when you refinance to use for other purposes. But the most common purpose is to obtain a lower interest rate and lower monthly payments.

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Bi-Weekly Payments Calculator

One popular strategy for accelerating the payoff of a loan is to make ‘Bi-Weekly’ payments. Under a Bi-Weekly mortgage plan, you will make payments to your lender every two weeks instead of monthly. If you have your current home loan with Greater Nevada Mortgage, then you may want to consider our Equity Add-Vantage program.

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Additional Payments Calculator

If you’re trying to pay down your existing mortgage, you might be wondering what the impact would be if you simply increased your monthly payment each month by just a little, or even a lot. When you increase your monthly payment, the amount of the increase gets applied directly to reducing the amount owed, or principle.

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Lump Sum Payment Calculator

If you have received a lump sum payment from an inheritance, tax refund or commission off of a large sale, you might be wondering what the best use of that money is. If you have your current home loan with Greater Nevada Mortgage, then you may want to consider our Greater Recast program.

The ABCs of Home Loans

Homebuying, refinancing, and equity made simple–that’s how we do things at Greater Nevada Mortgage. Get started with the resources below or get in touch with our team.

Connect with a Consultant

Mortgage Frequently Asked Questions

  • What is a mortgage?

    A mortgage is a loan used to buy a home. These home loans are provided by mortgage lenders (like Greater Nevada Mortgage) and can vary with different terms, conditions and requirements.

  • What is a down payment?

    A down payment is a payment made when you purchase a home. They can range from 3.5% to 20% depending on the loan type. Several programs exist to help homebuyers gather the cash needed for such a large investment.

  • What’s the difference between principal and interest?

    When you purchase a home, your payments go toward both the principal and interest. The principal is the total you agree to repay, while the interest is the cost of borrowing that amount from a lender over the term. 

  • What determines the interest rate for a mortgage?

    Mortgage rates are influenced by different factors. The amount you put down on the home, your credit score and history, the total amount of the loan and loan types can all affect interest rates.

  • What elements make up the total mortgage payment?

    Though you’ll make one payment toward your mortgage every month, the payment may be made up of four individual fees: principal, interest, property taxes and insurance (commonly known as “PITI”). It’s important to note that this is only true if you impound your taxes and insurance payments each month with your loan payment versus paying them on your own when due throughout the year. If you don’t impound your taxes and insurance with your regular payment, then you will only pay the lender for the loan’s principal and interest each month.

    Our mortgage calculator can help identify the principal (or home price) and interest fees, but not insurance and city or county fees. As a result, your monthly payment may be a little higher than the one shown.

  • What is a homeowners insurance premium?

    Homeowners insurance premiums are payments you make to the policy provider to keep your coverage active. It may be included in your monthly mortgage payment or it may be separate. You may be required to get private mortgage insurance (PMI) if your down payment is below a certain percentage. Just remember: PMI protects the lender against default, while homeowners insurance protects you against loss.