Real Effective Mortgage Rate, Tax, Opportunity Cost Monthly Payment Calculator

You've seen basic mortage payment calculators, but what will that do to your taxes? What's the true cost of points? Is it worth it to take money out of investments and use it for a down payment? Most calculators don't show what you're missing out on. This one does, or at least its best estimate. Consult a real CPA, attorney, and/or investment professional to discuss your specific tax and investment situation.

Purchase price of property

Years of loan

Down payment (%)

% = $

Extra buyer closing costs/fees

Loan interest rate (%)

Points

Each point generally costs 1% of the loan and is paid at closing: $

Homeowners insurance per-year

which is $ per month

HOA fees per month

Tax assessment diff-how much your assessor assesses the property above purchase price or less if negative (%)

% assessed value $ - increase this to see what will happen to your property taxes as the value increases.

Your property tax rate (%)

% property taxes per month: $

Profit from selling your old home (or 0 if not)

Assuming you sell one house to move to the one you are purchasing.

Your savings/investment rate (%)

% S&P 500 long term average is around 11-12% but a mix of bonds and stocks will be lower

VA loan?

first VA loan? results in funding fee % = $ (for purchase/construction, no disability or other special circumstances)

Do you itemize your taxes?

Are you over the SALT deduction limit?

if you are in a high tax state and/or have high income, leave checked reference

Your income tax bracket (%)

% - this is your marginal tax rate

Effective monthly cost, with tax benefits & lost/gained investment returns for the first year of the loan

Effective monthly cost for an average year of your loan (mortgage interest paid per year slowly decreases)

Monthly Principal & Interest

Monthly Payment total (P&I + HOA + insurance + property tax)

First year mortgage interest

(average $) Interest on the first $750000 of your loan can be tax-deductible if you itemize, saving you $/mo initially ($/mo average)

Change to your savings/investment account at closing

Depending on whether your closing expenses and down payment are greater than your sale profit you could add to or may need to pull from your investments/savings

Change in monthly savings/investment return

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