What is a good mortgage rate in 2026?

The 30-year fixed average is 6.37% as of 2026. Borrowers with 760+ credit scores are seeing rates around 6.50%. Rates below 6.25% are available from some lenders for strong credit profiles. Compare multiple lenders — the spread between best and worst can be 0.5%+.

How much house can I afford on my salary?

The 28/36 rule: your mortgage payment should be no more than 28% of gross monthly income, and total debt payments no more than 36%. On a $100,000 salary ($8,333/month), that's roughly a $2,333 max payment — corresponding to about a $350,000 mortgage at current rates.

Should I choose a 15 or 30-year mortgage?

A 15-year mortgage saves enormous interest but requires higher payments. On a $400,000 loan, a 15-year saves over $150,000 in interest vs a 30-year. Choose 15-year if the payment is comfortably under 28% of income. Choose 30-year if you need flexibility or expect to invest the payment difference.

What is PMI and when can I remove it?

Private Mortgage Insurance (PMI) is required when your down payment is under 20%. It typically costs 0.5–1.5% of the loan annually. You can request removal once your equity reaches 20%, and lenders must automatically cancel it at 22% equity under the Homeowners Protection Act.

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Home & MortgageMortgage

Mortgage Calculator 2026

Calculate your exact monthly payment, total interest paid, and see how rate, term, and down payment change the numbers.

Mortgage Details

Home Price$450,000

Down Payment$90,000

Interest Rate (APR)6.37%

Loan Term (Years)

Monthly Property Tax$375

Monthly Insurance$150

Results

Live

Estimated Monthly Payment

$2,770

Principal & Interest$2,245

Property Taxes$375

Home Insurance$150

Total Interest Paid$448,112

Total Loan Cost$898,112

Loan Amount$360,000

Pro Tip

Increasing your monthly payment by $200 could save tens of thousands in interest.

Frequently Asked Questions

Everything you need to know.

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Why This Matters

A 0.5% difference in mortgage rate on a $400,000 loan costs $43,200 over 30 years. At today's average of 6.37%, small rate differences have enormous long-term consequences. Always run the math before accepting a rate.

How to Use It

1Enter your home price and down payment amount
2Set the interest rate — use our comparison page for live rates
3Choose your loan term (15 or 30 years)
4Add property tax and insurance for your true monthly cost

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