Use our free home loan mortgage calculator to estimate your mortgage payment, with taxes and insurance. Enter the price of the home, your down payment and details about the home loan to calculate your mortgage payment, schedule and other details!
Whether you are a first-time home buyer, refinancing a home or purchasing your next home, your Lafayette, Louisiana mortgage broker at Castille Mortgage will take the worry and hassle out of getting a home loan.
When you feel the keys of your new house in your hand after buying your home, it’s a true moment!
***PMI – Only Conventional loans with 20% down and VA loans will not have PMI. Contact us today at 337.534.4415 to help figure out what your PMI rate will be.
using the free mortgage calculator & understanding home loans
Buying a home allows you to build equity when you make your mortgage payments, giving you access to wealth while also having something tangible to show for it, as well as tax breaks each year. Equity is the difference between what you owe on your home and the market value.
Figuring out how much you can afford can be simplified by knowing your budget and utilizing the Castille Mortgage home mortgage calculator. But remember, there are several parts of a home mortgage.
PRINCIPAL, INTEREST, TAXES & INSURANCE
A lender can only quote a home loan based on principal and interest, based on the four major credit score factors that you are providing them as accurate. Eventually they will be verified by a qualified loan advisor. Those factors are:
- Debt to Income Ratio
- Credit Score
- Down Payment Size
- Work History
The Principal is the base amount of your loan. A part of your principal is usually paid off with each mortgage payment, reducing the principal balance owed and increasing your equity. This is the part of your home that you own.
Your principal payment is typically small in the first few months and increases over the life of your mortgage as the balance decreases. Interest-only mortgages, as well as some other types of loans, do not include monthly principal repayment.
Interest is the amount a lender charges you for borrowing money to buy your home. It includes a percentage of the principal that is outstanding. When you start out, most of your mortgage payment is applied toward paying off the interest.
WHAT GOES INTO YOUR MORTGAGE CALCULATIONS
As you begin paying off your mortgage, more of your monthly payment goes toward paying off the principal and less toward the interest. If you have an adjustable-rate mortgage, your mortgage can change during the loan.
See our Reviews!
Jeremy was a pleasure to work with...very professional and got us closed in 12 days!!! Thank you so much
I've known Jeremy for a decade and can say he's a genuine, trustworthy, and hard working guy.
My fiance & I were in the market for our first home when a friend mentioned Jeremy & Castille Mortgage as a possible loan officer. I had contacted him & he immediately began working on my file to get me pre-approved for a home. After a few potential homes fell through we finally found the home that we wanted & made the offer. Jeremy worked with us & explained every little detail to remove any doubt of questions or concerns. He even answered his phone & emails while on vacation! Jeremy went above and beyond by presenting several options to us in regards to the financing types & other methods of the downpayment/closing costs so we would not have to come out of pocket too much.We will definitely recommend him to our family & friends; and will use him again for any other future property purchases.
Jeremy worked really hard for us. He answered all of our questions promptly. It didn't matter what day of the week or time of the day it was he was there to help. He was true to his word. Everything he said that would happen in regards to cost and time was exact. He is very friendly and instantly felt like a life long friend.
I couldn’t be more pleased with the service I got. He helped me buy my first home and walked me through every step. If I ever have to buy another home I will only call him for all my Morgage needs! Highly recommended to new home buyers!!
Jeremy is great. We were able to get our loan reviewed and processed within a month. The process was so quick and easy that we are currently working with him for a second approval process. Thank you so much Jeremy!