Mortgage Calculator
Powered by real Triangle data · Live FRED rates · County tax assessments
Payment Breakdown
Amortization & Net Sale Proceeds
The dashed green line shows estimated cash you'd walk away with if you sold at each year — appreciated home value minus remaining loan balance and 7% selling costs. This includes your down payment being returned as part of your equity.
Extra Payment Impact
See how extra monthly principal payments can shorten your loan and save interest.
Rate Sensitivity — How Rates Affect Your Payment
Down Payment Impact
| Down % | Down Payment | Loan Amount | Monthly P&I | Monthly PMI | Total Monthly | Cash to Close |
|---|
Scenario Comparison
Monthly totals include principal, interest, property tax, insurance, HOA, and PMI where applicable.
Rent vs. Buy Analysis
Compare the long-term cost of renting vs. buying based on local appreciation rates.
Analysis Assumptions
Maintenance estimate based on 1% of home value per year, a widely cited industry benchmark (National Association of Realtors, Bankrate). Appreciation default computed from FHFA House Price Index (3-year annualized, Raleigh & Durham MSA average). Selling costs of 7% include estimated agent commissions (5–6%) and seller closing costs (1–2%).
Estimated Cash to Close
| Down Payment | $0 |
| Closing Costs (est. 2.5%) | $0 |
| Prepaid Property Tax (3 months) | $0 |
| Prepaid Insurance (1 year) | $0 |
| Total Cash to Close | $0 |
Rates: Freddie Mac & Optimal Blue via FRED · Tax data: County ArcGIS Public Records · Appreciation: FHFA House Price Index
- This calculator provides estimates only and is not a loan offer, pre-qualification, or financial advice. Actual mortgage terms, rates, and costs will vary based on your credit profile, lender, and loan program.
- Interest rates shown are weekly national averages from Freddie Mac and Optimal Blue via FRED. Your actual rate may differ significantly.
- Property tax estimates use county-assessed values and published tax rates, which may not reflect your actual tax bill. Assessment ratios and rates change annually.
- PMI rates are approximate industry averages and vary by lender, credit score, and loan-to-value ratio. PMI is removed once equity reaches 20% of the appreciated home value.
- Home value projections assume a constant annual appreciation rate. Actual appreciation varies year to year and is not guaranteed. The default rate is derived from the FHFA House Price Index (3-year annualized, Raleigh & Durham MSA average).
- "Walk Away Funds if Sold" is an estimate of what you may walk away from the property with after a given period — appreciated home value minus remaining loan balance minus 7% selling costs (commissions + seller closing costs). The "over initial cash investment" comparison measures this against your initial out-of-pocket costs (down payment + buying closing costs). These figures do not account for cumulative carrying costs such as mortgage interest, property taxes, insurance, or maintenance paid over the holding period.
- The break-even point shown on the amortization chart is the year when walk away funds first exceed your initial cash investment (down payment + 2.5% buying closing costs).
- The Rent vs. Buy analysis uses simplified assumptions including 3% annual rent increases, 1% annual maintenance (industry benchmark), and does not account for tax deductions, opportunity cost of the down payment, or changes in interest rates over time.
- Closing cost estimate of 2.5% (buying) and 7% (selling) are approximations. Actual closing costs in North Carolina typically range from 2% to 4% for buyers and 6% to 8% for sellers, depending on the lender, loan type, and negotiated terms.
- Always consult a licensed mortgage lender and financial advisor before making home purchase decisions.
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