Introduction
This Navy Federal mortgage calculator shows what a home loan may cost you each month. Type in the home price, your down payment, the loan term, and your credit score range. The tool does the math right away.
You get your full monthly payment, called PITI. That stands for principal, interest, taxes, and insurance. You also see your loan amount, total interest, and the total cost of the loan over time. If you want to isolate just that four-part payment, the PITI calculator breaks it down on its own.
You can pick a Conventional loan, a VA loan, or a Military Choice loan. You can pick a fixed rate or an adjustable rate (ARM). If you put down less than 20% on a Conventional loan, the tool adds PMI for you. VA and Military Choice loans skip PMI. For a deeper look at either path, try the VA loan calculator or the PMI calculator.
Open the advanced box to add property tax, home insurance, HOA fees, extra principal, discount points, and your tax bracket. Adding extra money each month shows how much interest you save and how many years you cut off your loan — the mortgage extra payment calculator explores that idea further.
You also get a 15-year vs. 30-year comparison, a step-by-step look at the math, a year-by-year chart, and a full amortization table. All results are estimates to help you plan before you talk to a lender.
How to use our Navy Federal Mortgage Calculator
Enter your home price, down payment, loan term, credit score and rate details, and the calculator shows your estimated monthly mortgage payment (PITI), your loan amount, total interest, total loan cost, a payment breakdown, a 15- vs 30-year comparison, and a full amortization table.
Home Purchase Price: Type the price of the home you want to buy, or drag the slider. You can enter $10,000 up to $10,000,000. Not sure what price fits your income? Check the home affordability calculator first.
Down Payment: Type the cash you will put down as a dollar amount or as a percent. Change one box and the other updates on its own. You can also drag the slider. The down payment calculator helps you set a savings target.
Loan Term: Pick how many years you will pay: 10, 15, 20 or 30. A shorter term means a higher monthly payment but less total interest. Compare a 15-year mortgage against a 30-year mortgage side by side.
Credit Score Range: Choose the band that matches your score. This fills in an estimated interest rate for you.
Loan Type: Pick Conventional, VA Loan or Military Choice. VA and Military Choice loans skip PMI; a conventional loan with less than 20% down adds PMI. Government-backed shoppers may also want the FHA loan calculator.
VA Funding Fee: Shows only for VA loans. Enter the fee percent. It is added to your loan amount instead of being paid at closing.
Borrower Military Status: Shows only for Military Choice loans. Pick Active Duty, Reservist/Guard or Veteran. This is for eligibility notes only. Service members budgeting a housing allowance can use the BAH calculator alongside this tool.
Rate Type: Choose Fixed Rate to keep one rate the whole time, or ARM if your rate can change later.
Interest Rate: For fixed loans, this is filled in for you from your credit score, term and loan type. Type your own rate if a lender gave you one. The mortgage rate calculator shows how small rate moves change the payment.
Initial Rate: For ARMs, enter the starting rate you pay during the fixed years.
ARM Structure: Pick 3/1, 5/1, 7/1 or 10/1. The first number is how many years your rate stays fixed.
Lifetime Rate Cap: Enter the highest rate your ARM can ever reach. The results show your worst-case payment at that rate.
Monthly Property Tax: Optional. Enter your monthly tax cost. It is added to your PITI payment. Estimate it with the property tax calculator.
Monthly Homeowners Insurance: Optional. Enter your monthly insurance cost. It is added to your PITI payment. The homeowners insurance calculator can give you a starting figure.
Monthly HOA Fee: Optional. Enter your HOA dues. This is shown apart from the mortgage payment.
Extra Monthly Principal: Optional. Enter extra money you will pay each month to see how much interest and time you save. See also the mortgage payoff calculator.
Federal Tax Bracket: Optional. Pick your bracket to estimate the value of your first-year mortgage interest deduction. The tax bracket calculator can confirm which band you fall in.
Discount Points Paid at Closing: Optional. Enter the dollar amount of points you pay. It is used in the tax deduction estimate. For the rest of your upfront costs, see the closing cost calculator.
Click Calculate to see your results, Reset to Defaults to start over, or Print Results to save a copy.
What a Mortgage Payment Is Made Of
A mortgage is a home loan you pay back each month for many years. Most monthly payments have four parts, called PITI:
- Principal — the part that pays down what you borrowed.
- Interest — what the lender charges you to borrow. The mortgage interest calculator shows the lifetime total.
- Taxes — property tax on your home.
- Insurance — homeowners insurance that covers damage.
HOA fees are not part of your mortgage, but you still pay them, so plan for them too. Fold every housing cost into a monthly budget before you make an offer.
Down Payment and PMI
Your down payment is the cash you pay upfront. A bigger down payment means a smaller loan and a lower monthly payment. On a conventional loan, if you put down less than 20%, lenders usually add private mortgage insurance (PMI). PMI protects the lender, not you, and it raises your payment until you build enough equity. Your loan-to-value ratio is what decides when PMI can drop off.
Loan Terms: 15 vs. 30 Years
The loan term is how long you have to pay. A 30-year loan has a lower monthly payment but costs much more interest over time. A 15-year loan costs more each month but saves a lot of interest and pays off your home twice as fast. A biweekly mortgage schedule is a middle path that shortens the term without a big jump in the monthly bill.
Fixed Rate vs. ARM
A fixed-rate mortgage keeps the same interest rate for the whole loan, so your principal and interest never change. An adjustable-rate mortgage (ARM) starts with a lower rate for a set number of years, like 5 years on a 5/1 ARM. After that, the rate can move up or down each year, up to a lifetime cap. Always check the payment at the cap so you know the worst case. Borrowers weighing a lower starting payment may also compare an interest-only mortgage.
VA Loans and Military Choice Loans
Navy Federal serves military members, veterans, and their families. A VA loan can allow 0% down and does not require PMI, but it charges a one-time VA funding fee that is usually added to the loan amount. A Military Choice loan is for borrowers who have used up their VA benefit. It also skips PMI but often has a slightly higher rate. If you are financing a vehicle at the same institution, the Navy Federal auto loan calculator works the same way.
How Your Rate Is Set
Lenders look at your credit score, your down payment, the loan term, and the loan type. A higher credit score usually means a lower rate. Even a small rate change can shift your payment and total interest by thousands of dollars. Lenders also check your debt-to-income ratio and your credit utilization before they quote you.
Paying Extra Saves Money
Any extra money you send goes straight to principal. That lowers your balance, so you pay less interest and finish the loan sooner. Even $100 or $150 a month can cut years off a 30-year mortgage. The early mortgage payoff calculator puts a dollar figure on that head start, and a mortgage recast is another option if you make one large lump-sum payment.
Amortization Explained
Amortization is the schedule that shows how each payment splits between principal and interest. In the early years, most of your money goes to interest. Over time, more goes to principal and your balance drops faster. The mortgage amortization calculator prints the full month-by-month table.
Mortgage Interest and Taxes
If you itemize on your federal tax return, you may be able to deduct mortgage interest and discount points. The value depends on your tax bracket. Talk to a tax pro before you count on it. The income tax calculator can help you see where you stand overall.
Related Tools
Still deciding whether to own at all? Run the numbers with the rent vs buy calculator. Already have a mortgage and watching rates drop? Try the refinance calculator, the cash-out refinance calculator, or the home equity calculator to see what your options look like.
These numbers are estimates. Your real rate, taxes, insurance, and PMI depend on your lender, your credit, and where you live.