Mortgage Calculator

How to Use This Calculator

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1. Enter Your Estimated Home Price. Not sure where to start? The median home price in Lexington is currently around $[XXX,XXX]. Use that as a baseline or enter the price of a home you're considering.

2. Set Your Down Payment. Most buyers put down between 5% and 20%. A larger down payment reduces your monthly payment and may eliminate PMI.

3. Choose Your Loan Term. Most buyers choose a 30-year fixed mortgage for lower monthly payments. A 15-year loan saves on interest but raises the monthly cost.

4. Add Taxes, Insurance, and HOA. These costs significantly impact your real monthly payment. We've pre-filled Lexington averages, but you can adjust them based on the specific property.

Step 1 of 2

Financial Information

Home Price*

Interest Rate*

Interest Term*

Years

Down Payment

Step 2 of 2

personal information

First Name*

Last Name*

Email*

Phone

Comments

Results

Mortgage Principle

Total Payments

Monthly Payment

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What This Calculator Doesn't Show

Mortgage calculators are a useful starting point, but they don't capture the full picture of homeownership. Other costs to factor in:

Closing costs (typically 2-5% of the home price)
Maintenance and repairs (budget around 1% of home value annually)
Utility costs
Earnest money and inspection fees during the buying process

A local agent can walk you through the full cost picture for any specific property you're considering.

Calculate My Payment Talk to a Local Agent