Repayment of a mortgage loan requires that the borrower make a monthly payment back to the lender. That monthly payment includes both repayment of the loan principal, plus monthly interest on the outstanding balance. Loan payments are amortized so that your monthly payment remains the same during the repayment period, but during that time, the percentage of the amount that goes towards principal will increase as the outstanding mortgage balance decreases. Mortgage payments can also include pre-payments of property taxes, homeowner's insurance, and monthly homeowner's association dues into an escrow account, managed by your lender. When those items are due, your lender will make the payment to the tax authority, insurance company or homeowner's association.
Calculate a Mortgage Payment
Calculate a Mortgage Payment
Loan Amount |
Principal & Interest |
Property Taxes |
Insurance |
HOA Fees |
Total Payment |
|---|---|---|---|---|---|
Flagstar Bank partnered with Fintactix, a financial education company, to make this calculator available. This is for informational purposes only. The results are hypothetical to illustrate general scenarios. The calculator cannot determine that a specific Flagstar product is available to you or that it is the right solution for your circumstances. All Flagstar Bank products require an application and an approval process. Please contact us directly so we can assist you. Use of this calculator is not a substitute for and results cannot be relied on as investment, legal, tax or accounting advice. Please consult a tax advisor, attorney or other financial professional for personalized advice appropriate to your goals and circumstances. Flagstar Bank and our affiliates are not responsible for any content provided by unaffiliated third parties.