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Mortgage Payment Calculator: How To Calculate Your Monthly Payment

A mortgage payment is made up of several items combined into one monthly payment, including but not limited to principal and interest. Some mortgages also include an escrow amount for payment of property taxes and homeowners insurance.
If the home was purchased with less than 20% down payment, it is likely that Private Mortgage Insurance (PMI) will also be included.
If you’re a first-time homebuyer, you may be wondering, how much would my mortgage be?
Figuring out how to calculate a mortgage payment can be tricky, but we can help! At the Credit Union of Southern California (CU SoCal), we offer several easy-to-use mortgage loan payment calculators.
A CU SoCal home financing specialist can also assist first-time homebuyers and existing homeowners compare mortgage loan options, interest rates, and terms to help you figure out your mortgage payment.
Call 866.287.6225 today to schedule a no-obligation consultation and learn about our mortgage options, home equity lines of credit, auto loans, personal loans, checking and savings accounts, and other banking products. As a full-service financial institution, we look forward to helping you with all of your banking needs.

Ready to get started? Try CU SoCal’s monthly mortgage payment calculator.
Get Started on Your Mortgage Today!

Types Of Mortgage Calculators

Knowing how much you can afford in monthly mortgage payments is extremely important, whether you are purchasing a new home, refinancing, or doing a cash-out refinance.
Use these handy mortgage loan payment calculators to figure out your mortgage payment and see which type of mortgage is right for you.
Mortgage Affordability Calculator. Thinking of buying a home? This calculator provides an estimate of your monthly payment and will help you determine how much you can spend on a new home.
Mortgage Payoff Calculator. Paying off your mortgage early can save you money in the long run. Use CU SoCal’s Mortgage Payoff Calculator to see how quickly you can payoff your mortgage and how much interest you can save by making a larger monthly mortgage payment.
Mortgage Refinance Savings Calculator. Refinancing a mortgage can not only lower your interest rate and save you hundreds of dollars each month, you may be eligible for a cash-out refinance that provides a lump-sum of money at closing. Refinancing to a lower interest rate can add up to big savings. Use CU SoCal’s Mortgage Refinance Savings Calculator to help determine if it’s a good time to refinance your mortgage.
Adjustable Rate Mortgage Calculator. An Adjustable Rate Mortgage (ARM) starts with a low introductory rate that later adjusts to a variable rate with an interest rate cap. Borrowers need to be aware that their monthly mortgage payments may be higher if the rate increases. CU SoCal’s Adjustable Rate Mortgage Calculator shows a "fully amortizing" ARM, which is the most common type of ARM.

Where to Get a Mortgage

If you’re wondering how to choose a mortgage lender, the best place to start is by understanding the different types of lenders:
  • Direct Lender. Direct lenders lend money directly to the borrower, without the use of a middle-man, such as a mortgage broker.
  • Mortgage Broker. Brokers sell mortgages that are provided by various mortgage lenders and financing companies.
  • Correspondent Lender. These originate mortgage loans, then sell the loans to another financial institution or mortgage company that will service the loans.
  • Wholesale Lender. Provides loans that mortgage brokers sell to consumers.
  • Portfolio Lender. This lender originates and funds mortgage loans, and holds the loans in its own portfolio (rather than selling the loans to another servicer).
  • Hard Money Lender. A private lender, not a credit union or bank, that provides quick access to cash based on the value of the property being purchased 

CU SoCal Mortgages and Home Loans

Ready to get a mortgage? CU SoCal can make it happen with: 
  • Down payments as low as 3%
  • Fast pre-approval
  • Competitive rates
  • Financing up to $3 million
  • Flexible terms of 10-, 15-, 20-, and 30-years
  • Fixed, adjustable-rate, and interest only loans
  • Fast financing
  • Professional guidance
  • Flat lender fee of $995
  • Realtor rebates
Using a mortgage loan payment calculator to figure out your mortgage payment is a good idea. Then give us a call to answer any questions you may have about
how to calculate mortgage payment.

Why Savvy Consumers Choose CU SoCal

For over 60 years CU SoCal has been providing financial services, including mortgages, Home Equity Loans, HELOCs, car loans, personal loans, credit cards, and other banking products, to those who live, work, worship, or attend school in Orange County, Los Angeles County, Riverside County, and San Bernardino County.
Please give us a call today at 866.287.6225 today to schedule a no-obligation loan consultation with a CU SoCal Member Services specialist.
Get Started on Your Mortgage Today!

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Building Better Lives

Credit Union of Southern California (CU SoCal) is a leading financial institution empowering those who live, work, worship, or attend school in Orange County, Los Angeles County, Riverside County, and San Bernardino County to reach their goals and build strong financial futures. CU SoCal provides access to convenient money management services and offers competitive rates and flexible terms on auto loans, mortgages, and VISA credit cards—turning wishing and waiting into achieving and doing.


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