Mortgage Calculator

Dogtown Homes would like to help you find the mortgage loan that is Right For You.

Not all mortgages are the same and every individual or family needs to consider all the factors before choosing the type of mortgage that suits their situation!

  • What is your annual income?
  • How could your finances change in the near future (New Job, College Education)?
  • Do you plan on staying in your home long term?
  • Are you able to handle your monthly payment changing over the life of the loan?

A 15-year fixed rate mortgage will save you thousands in interest payments over the life of the loan, when compared to a 30 year mortgage, but your monthly payments will be higher with a 15-year. If you choose an adjustable rate mortgage you will have a smaller monthly payment than a fixed rate mortgage initially, but your payments could get significantly higher if the interest rates go up over time.

Try out our mortgage payment calculator to better understand the dynamics of the different home loan programs. Please feel free to contact us and we can walk you through the loan process!

What Are the Different Mortgage Components That Create My Total Payment? We like to call them PITI.

Prinicpal: The part of the payment that goes towards the balance of the loan.

Interest: Is what the lending institution charges to lend the money.

Taxes: Property and State taxes.

Insurance: All homes are required to have hazard insurance.

Principal and interest make up a large portion of your monthly payments in a process called amortization, which reduces your debt over a fixed period of time. With amortization, your initial monthly payments are mostly interest, and as the loan matures, a larger part of your payment goes toward the principal.

Please contact us anytime and we can assist you with this process!!