Finance calculators

Navy Federal Mortgage Calculator

Updated Sep 1, 2026 By Jehan Wadia
Rate Formulas

Home & Loan Details

Accepted range: $10,000 to $10,000,000.
Down Payment
Editing either box updates the other automatically.
Loan Term
Default term is 30 years.
Rate estimate is based on credit score band and current market conditions. Edit the rate field to use a specific rate.
Loan Type
Rate Type
Pre-filled from your credit band, term and loan type — edit freely.

Your Estimated Payment

Estimated Monthly Payment (PITI)
$0.00
Loan Amount
$0
Total Interest Paid
$0
Total Cost of Loan
$0

Monthly Payment Breakdown

Principal & Interest$0.00
Estimated PMI $0.00
Estimated Property Tax$0.00
Estimated Homeowners Insurance$0.00
Total Monthly PITI Includes every line item above$0.00
Monthly HOA Fee Not included in the mortgage payment above$0.00
Extra Principal Payment$0.00
Total Monthly Housing Cost$0.00

15-Year vs. 30-Year Comparison

Metric 15-Year Term 30-Year Term
Monthly payment (principal & interest)$0.00$0.00
Total interest paid$0.00$0.00
Total loan cost$0.00$0.00

Step-by-Step Solution

Principal vs. Interest by Year

Year Beginning Balance Principal Paid Interest Paid Total Paid Ending Balance

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

Monthly Homeowners Insurance: Optional. Enter your monthly insurance cost. It is added to your PITI payment.

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.

Federal Tax Bracket: Optional. Pick your bracket to estimate the value of your first-year mortgage interest deduction.

Discount Points Paid at Closing: Optional. Enter the dollar amount of points you pay. It is used in the tax deduction estimate.

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.
  • 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.

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.

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.

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.

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 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.

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.

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.

These numbers are estimates. Your real rate, taxes, insurance, and PMI depend on your lender, your credit, and where you live.

Formulas used

Loan Amount (with financed VA funding fee)
L = (P_{\text{price}} - D) \times \left(1 + \frac{f_{VA}}{100}\right)
Monthly Interest Rate and Number of Payments
r = \frac{i/100}{12}, \qquad n = t \times 12
Monthly Principal & Interest Payment
M = L \times \frac{r(1+r)^n}{(1+r)^n - 1}
Monthly PMI (conventional loans with less than 20% down)
\text{PMI}_{\text{month}} = \frac{L \times 0.85\%}{12}
Total Monthly Payment (PITI)
\text{PITI} = M + \text{PMI}_{\text{month}} + T_{\text{month}} + I_{\text{month}}
Remaining Balance After k Payments (ARM reset balance)
B_k = L(1+r)^k - M \cdot \frac{(1+r)^k - 1}{r}
Monthly Amortization Recursion (with extra principal)
\text{Int}_m = B_{m-1} \cdot r, \quad \text{Prin}_m = M - \text{Int}_m + E, \quad B_m = B_{m-1} - \text{Prin}_m
First-Year Interest Deduction Value
V = \left(\text{Interest}_{\text{yr}1} + \text{Points}\right) \times \frac{b}{100}

Frequently asked questions

Why did my payment change when I switched from Conventional to VA?

Two things change. PMI is removed, because VA loans never charge it. But the VA funding fee is added to your loan amount, so you borrow a little more. The estimated rate also shifts slightly for VA loans.

How much is the VA funding fee?

It depends on your down payment and whether you have used a VA loan before. First-time users with little down often pay around 2.15%. Repeat users pay more. Some veterans with a service-connected disability pay nothing, so set the field to 0 if that is you.

Why is my ARM total interest so high?

The tool shows the worst case. It assumes your rate jumps to the full lifetime cap right after the fixed years end and stays there. Real rates may go up less, or even down. Seeing the worst case helps you know if you can handle it.

What does the 5/1 in a 5/1 ARM mean?

The first number is how many years your rate stays fixed. The second number is how often it can change after that. So a 5/1 ARM is fixed for 5 years, then can adjust once every year.

What is a good lifetime rate cap to enter?

Most ARMs cap out about 5 points above the starting rate. The tool fills this in for you when you pick ARM. Check your loan estimate for the real cap and type it in.

Why is HOA listed apart from my PITI?

HOA dues are not part of your mortgage. You pay them to the association, not the lender. The tool keeps them separate so your PITI stays accurate, then adds them into the Total Monthly Housing Cost line.

What should I put for monthly property tax?

Take your yearly tax bill and divide by 12. If you do not know it, a rough guess is 1% to 1.25% of the home price per year. Check your county assessor site or a listing page for the real number.

Does the extra payment change my required monthly bill?

No. Your required payment stays the same. The extra money is a choice you make each month, and every dollar goes straight to principal. You can stop it any time.

The 15-year vs 30-year table shows my 20-year term is missing. Why?

That table always compares the two most common terms so you have a fixed benchmark. It uses your same loan amount and rate. If you picked 10 or 20 years, neither column is highlighted, but your own numbers still show in the results above.

Why does most of my early payment go to interest?

Interest is charged on your balance, and your balance is biggest at the start. As you chip away at the principal, the interest part shrinks and the principal part grows. The chart shows this shift year by year.

What is Military Choice and how is it different from a VA loan?

Military Choice is for borrowers who have already used their VA benefit or do not qualify for one. It allows 0% down and skips PMI like a VA loan, but there is no funding fee and the rate is usually a bit higher.

Does a bigger down payment always lower my rate?

Not always, but it often helps. More money down means less risk for the lender, which can earn you a better rate. It also cuts your loan size and can remove PMI at 20%, which lowers your payment two ways.

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