Calculate your
Mortgage
Our calculator is your virtual ally, allowing you to fine-tune variables and visualize the impact they have on your mortgage.
30 yr
Most common term
20%
Down to avoid PMI
PITI
What builds a payment
3
States + DC we serve
01Run the numbers
Mortgage Calculator
Enter your details below to estimate your monthly mortgage payment with taxes, fees and insurance.
Your details
Applying an effective property tax rate of 0.82% for Virginia.
All calculations are estimates and provided for informational purposes only. Actual amounts may vary.
Your estimate
$4,530
/month30 Year Fixed, 6.5% Interest
Loan amount
$600,000
Down payment
20%
Monthly payment breakdown
- Principal & Interest$3,79284%
- Property tax$51211%
- Other$2255%
The mortgage calculator is for estimation purposes only, and its results may not represent and reflect the actual rates and costs offered. Calculators are based on your inputs and might not consider criteria such as market rates, location, and loan specifics. Please note that these results are simply an estimate. Major costs, such as taxes, insurance, and fees, are subject to change and may differ based on a variety of factors.
Want a sharper figure? Let’s review your credit, down payment and lender options so your rate — and your monthly payment — are as strong as they can be.
Get pre-approved02How a payment is built
Four parts make up one monthly figure
Your mortgage payment is not one number — it is the sum of four. Understanding each part is what turns a quote into a confident decision.
Principal
The portion of each payment that actually pays down your loan balance — it grows slowly at first, then faster over time.
Interest
The cost of borrowing, calculated on your remaining balance. Early payments are interest-heavy, which is why the rate matters so much.
Property Taxes
Your local property tax, split into twelve monthly installments and held in escrow so it is never a surprise.
Insurance & HOA
Homeowners insurance — and association dues if you buy in a condo or planned community — round out the full monthly figure.
03What moves the number
Six levers behind your payment
Every input in the calculator above maps to one of these. Nudge them in the tool and watch how much a single choice can move your month.
Home Price
The purchase price anchors the loan amount, so it is the single biggest driver of your monthly principal and interest.
Down Payment
A larger down payment shrinks the loan and the payment — and twenty percent removes private mortgage insurance entirely.
Loan Term
A 30-year term keeps payments low while a 15-year term raises them but cuts total interest dramatically.
Interest Rate
Even a small change in rate shifts your payment meaningfully over the life of the loan. Your rate depends on credit, points and the market.
Property Taxes
Local tax rates vary widely by state and county, and they are collected monthly — so where you buy changes what you pay.
Insurance & HOA
Homeowners insurance and any association dues are part of the payment, not extras, and both vary with the property.
04Local impact
Where you buy changes what you pay
Property taxes are collected monthly as part of your payment, and effective rates vary widely from state to state. A rate difference of one percent can shift your monthly figure by hundreds. These are the representative rates our calculator applies.
Northern Virginia markets
Effective property tax rate
Montgomery & Prince George’s
Effective property tax rate
The District itself
Effective property tax rate
No sales tax state
Effective property tax rate
Lower-cost commuter towns
Effective property tax rate
Higher effective rate
Effective property tax rate
Growing metro areas
Effective property tax rate
Highest effective rate
Effective property tax rate
Upstate to metro
Effective property tax rate
05Questions
Mortgages, answered
The questions DMV buyers ask most about payments, terms, taxes and how to bring the number down.
Your payment is the sum of four parts — principal, interest, property taxes and insurance (often called PITI), plus any HOA or condo dues. This calculator computes each one from your home price, down payment, term, rate and location, so you can see exactly what makes up the number rather than a single opaque figure.
A 30-year loan spreads the balance over more payments, which keeps your monthly figure lower but means you pay more total interest. A 15-year loan has higher monthly payments but typically a lower rate and dramatically less interest overall. Use the loan-term control above to compare both against your own budget.
Twenty percent avoids private mortgage insurance and lowers your payment, but it is not required. Many DMV buyers put down 5–15%, and VA loans for eligible service members can require nothing down. Every extra dollar of down payment reduces your loan amount and your long-term interest.
Yes — they are collected monthly as part of your payment and held in escrow. Property taxes vary significantly by state and county, and homeowners insurance varies with the home and your coverage. Because they are location-dependent, choosing your state above keeps the estimate grounded in local reality.
No. It is an estimating tool to help you plan and compare scenarios. A real rate quote and pre-approval come from a lender who reviews your credit, income and assets. When you are ready, BW Metro Properties can connect you with trusted local lenders and help you position a competitive offer.
Increasing your down payment, extending the loan term, improving your credit to secure a lower rate, or shopping in a lower-tax area all reduce the monthly figure. The most effective lever depends on your goals. Bring your result to a strategy call and we will map the mix that fits your plan.
13Ready To Make Your Next Move?
Let’s build a strategy that works for your goals.
Buyers, sellers and investors across Washington DC, Maryland and Northern Virginia trust BW Metro Properties to clear the path forward.