Mortgage Calculator
Curious what your monthly payment might look like? Enter a few details below and get an instant estimate. No strings attached — just helpful numbers to start your planning.
Enter Your Numbers
Estimated Monthly Payment
$1,834
Principal & interest on a 30-year loan at 6.75%
Total Interest
$310,205
Total Cost
$660,205
Loan Summary
- Loan Amount
- $280,000
- Down Payment
- $70,000 (20%)
- Interest Rate
- 6.75%
- Loan Term
- 30 years (360 payments)
First Year Breakdown
In year one, 83% of your payments go toward interest. Over time, more goes toward principal.
Want a personalized look at what you can afford? I'd love to chat — no pressure, just honest guidance.
Understanding your mortgage numbers
What is a down payment?
The down payment is the cash you pay upfront when buying a home. A larger down payment means a smaller loan, lower monthly payments, and less interest over time. Putting down 20% or more also helps you avoid private mortgage insurance (PMI).
How does interest rate affect payments?
Even a small change in your interest rate can mean hundreds of dollars per month. On a $280,000 loan, the difference between 6% and 7% is about $170/month — or over $61,000 over the life of a 30-year loan.
15-year vs. 30-year: what's the trade-off?
A 15-year mortgage has higher monthly payments but saves you a massive amount in interest and you'll own your home twice as fast. A 30-year mortgage offers lower monthly payments, giving you more flexibility month to month.
Beyond principal & interest
Your full monthly housing cost may also include property taxes, homeowner's insurance, HOA dues, and PMI if your down payment is less than 20%. I can help you estimate these additional costs for any home you're considering.
Ready to find a home you'll love?
With over 30 years of experience in the Tulsa Metro, I can help you understand what's realistic, navigate the process, and find the right fit for your budget.