Mortgage Payment Calculator

Calculate your monthly payment and see potential tax savings

Loan Details

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⚠️ PMI required (down payment < 20%)

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Tax Information

Estimated marginal state tax rate: 9.30%

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Enter your household's total income for tax bracket calculation

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Total charitable contributions for the year

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Only amounts exceeding 7.5% of AGI are deductible

Monthly Payment Breakdown

Principal & Interest$NaN
Property Taxes$400
Home Insurance$125
PMI$76
Total Monthly Payment$NaN

Loan Summary

Loan Amount$380,000
Down Payment$20,000 (5.0%)

Tax Savings Analysis

Your Federal Tax Bracket22%
Standard Deduction$29,200
Annual Tax Savings$0
Monthly Savings$0
Effective Monthly Payment$NaN

After tax savings (0% reduction)

Note: Your mortgage deductions do not exceed the standard deduction, so itemizing may not provide additional tax benefit.

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Disclaimer: This calculator provides estimates only and is NOT a Loan Estimate (LE) as defined by federal mortgage regulations. For an official Loan Estimate, please contact First Access Lending directly.

This calculator does NOT provide tax advice. Tax savings are estimates only and may not reflect your actual tax liability. Your individual tax situation may differ significantly based on factors not captured here. Please consult a qualified tax professional before making decisions based on these estimates.

Assumptions: Conventional PMI: 0.17% for <90% LTV, 0.24% for 90-95% LTV. FHA MIP: 0.80% for ≤95% LTV, 0.85% for >95% LTV (does not include upfront MIP). Minimum down payment: 5% for conventional, 3.5% for FHA. Actual PMI/MIP rates vary by credit score, loan amount, and lender. State tax rates are simplified marginal estimates and may not reflect actual liability. SALT deduction capped at $10,000 (federal tax law). PMI deductibility phases out for AGI above $100,000. Standard deduction amounts based on 2025 tax year. No consideration of AMT, Pease limitations, or state-specific deduction rules.

Actual loan payments, PMI rates, interest rates, tax savings, and closing costs may differ based on your credit profile, loan type, lender, property location, and individual tax circumstances. Tax laws change frequently and may affect deduction availability. This calculator does not include all possible fees, costs, or tax considerations. Contact First Access Lending for an accurate, personalized quote and official Loan Estimate. Consult a licensed tax professional for tax planning advice specific to your situation.