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Homebuyer Guide
Estimate Your Mortgage Loan Payment
There is a simple way to estimate the monthly principal and interest payment on you loan, if you know the interest rate and how many years you’ll take to repay your loan.
The interest rate factor chart can give you the factor that lenders use in computing your payment.*
| Interest
Rate |
15
Year Loan Term |
30
Year Loan Term |
| 6% | 8.44 | 6.00 |
| 6.5% | 8.17 | 6.32 |
| 7% | 8.99 | 6.66 |
| 7.5% | 9.27 | 7.00 |
| 8% | 9.56 | 7.34 |
| 8.5% | 9.85 | 7.69 |
| 9% | 10.15 | 8.05 |
| 9.5% | 10.45 | 8.41 |
| 10% | 10.75 | 8.78 |
| 10.5% | 11.06 | 9.15 |
| 11% | 11.37 | 9.53 |
| 11.5% | 11.69 | 9.91 |
| 12% | 12.01 | 10.29 |
| 12.5% | 12.33 | 10.68 |
| 13% | 12.66 | 11.07 |
| 13.5% | 12.99 | 11.46 |
| 14% | 13.32 | 11.85 |