Stifel Bank Mortgage Calculator

Introduction

Securing a mortgage is one of the most significant financial commitments many American families make. The Stifel Bank Mortgage Calculator helps you estimate your monthly payment—including principal, interest, property taxes, homeowner’s insurance, and PMI—so you can budget confidently and compare loan scenarios side by side. By modeling different down payments, interest rates, and terms, you gain insight into long-term costs and can make informed decisions before speaking with lenders.

Usage Guide

1. Enter Home Price: Input the purchase price of the property, such as $350,000.
2. Set Down Payment: Enter the percentage you plan to put down (common is 20%).
3. Provide Interest Rate: Current average rates for 30-year fixed mortgages hover around 4–5%—check Freddie Mac for weekly rate updates.
4. Choose Loan Term: Typical terms are 15 years (180 months) or 30 years (360 months).
5. Select State: Choose your state to auto-fill average property tax and insurance rates; you can adjust manually.
6. Enter Tax & Insurance Rates: If you know exact rates, override defaults; otherwise use auto-filled values.
7. PMI Rate: If down payment is less than 20%, include a PMI percentage (0.3–1% typical).
8. Calculate: Click “Calculate” to view a detailed breakdown of your monthly costs.
9. Reset or Share: Use “Reset” to start over, “Share” to send the tool link, or “Print/Download” for a paper copy.

For related tools, try our Refinance Calculator or Home Affordability Calculator.

Why Detailed Mortgage Estimates Matter

Many homebuyers focus solely on principal and interest, but property taxes and insurance can add several hundred dollars more each month. Private Mortgage Insurance (PMI) applies if you put down less than 20% and can disappear once you build sufficient equity. By modeling all components together, you avoid surprises at closing and can compare loan offers from different lenders under real-world cost assumptions.

Case Scenarios

Scenario 1: 30-Year, 20% Down in California
Home Price: $500,000 | Down 20% ($100k) | APR 4.25% | Term 360 mos
Tax Rate: 1.2% | Insurance: 0.6% | PMI: $0
Principal & Interest: $1,959.45 | Tax: $500.00 | Insurance: $250.00 | Total: $2,709.45 monthly.

Scenario 2: 15-Year, 10% Down in Texas
Home Price: $300,000 | Down 10% ($30k) | APR 3.75% | Term 180 mos
Tax Rate: 0.23% | Insurance: 0.22% | PMI: 0.8%
Principal & Interest: $2,150.15 | Tax: $57.50 | Insurance: $55.00 | PMI: $136.00 | Total: $2,398.65 monthly.

Frequently Asked Questions

1. What is PMI and when does it apply?

Private Mortgage Insurance protects lenders when down payment is under 20%. It typically costs 0.3–1% of the loan annually until you reach 20% equity.

2. How accurate are auto-filled state tax rates?

We use recent averages for major states—actual county rates may vary. Always verify with your local assessor or ask your lender for precise figures.

3. Can I adjust inputs after calculation?

Yes. Click “Reset” and modify any field—down payment, APR, term or rates—to explore different scenarios.

4. Should I compare 15-year vs. 30-year loans?

A 15-year term typically offers lower rates and saves tens of thousands in interest but increases monthly payments. Balance budget with total interest savings.

5. How do taxes and insurance affect affordability?

Combined taxes and homeowner’s insurance can add 30–40% on top of principal & interest. Including them early prevents budget overstretch.

6. Where can I find current mortgage rates?

Trusted sources include Bankrate and Freddie Mac weekly rate reports.

Conclusion

Thorough mortgage planning is the cornerstone of responsible homeownership. The Stifel Bank Mortgage Calculator equips you with a clear picture of all monthly costs, helping you select the right down payment, term, and rate. Use it to compare offers, optimize your budget, and avoid surprises at closing.

Disclaimer: This calculator provides estimates only and is not financial advice. Consult a qualified mortgage professional for personalized guidance.