Routing # 256078446
MORTGAGE KNOWLEDGE CENTER
PenFed Mortgage with Confidence
MORTGAGE
Mortgage Calculator—Know Your Options
What you'll learn: Calculate conventional, VA, and jumbo home loans.
EXPECTED READ TIME: 4 MINUTES
August 6, 2021 | Updated January 2, 2026
Our mortgage calculator makes it fast and easy to estimate your monthly mortgage payment. Compare conforming, VA, and Jumbo loan programs to see what's best for you. Your estimated monthly mortgage payment will show both principal and interest. Then when you’re ready to start shopping, you’ll have a good idea of the price range for homes you should be looking at.
While this is a great way to quickly understand an approximate estimate of payments, everyone’s personal financial situation is different. So, if you would like a more precise estimate of interest rate and payment, based on your situation, you can use our "Get my Rate” tool by supplying some basic financial data.
Start Using the Mortgage Calculator
There are four boxes to fill out on our mortgage calculator.
1. Price of the Home
Try out different amounts here. You’ll be surprised that sometimes getting a home for $350,000 rather than $325,000 doesn’t make that much difference in your payment. Having that leeway makes shopping easier.
2. Down Payment
Decide for yourself if it’s better to put down a larger down-payment or save your funds.
3. Loan Term
Choose between terms of 30, 20, 15, and 10 years. For those wanting to pay off a mortgage in a short period of time, 15-years could be the best option.
4. Interest Rate
To get an idea of current interest rates, take a look at PenFed’s Products and Rates and have fun calculating!
Check Out Your Loan Options and More Mortgage Calculators
VA Loans
One of the best things about VA loans is that you don’t have to have a down payment. Plus, their rates are some of the lowest. If you’re a current service member, veteran, or surviving spouse—look at VA mortgages first. Here’s our PenFed VA mortgage calculator. Get a more detailed idea of what your total mortgage payment will be with taxes and insurance.
Conforming Fixed
PenFed’s conventional mortgages offer excellent rates, especially for those with good credit. The majority of loans in the US are conventional. These loans finance primary residences, second homes, vacation homes, and investment properties. An important point to know is that occupancy type, credit score, and down-payment amount affect the interest rate. PenFed’s conventional mortgage calculator has the option of including estimated taxes and insurance in your payment. These mortgages follow the conforming loan limits. For 2026 the limits are $832,750 for most of the country and up to $1,249,125 in high-cost areas.
Jumbo Loans
If you need a mortgage that exceeds the above conforming limits—our jumbo loans are the solution. Compared to VA and conforming, you’ll need better credit and a larger down payment. Our jumbo mortgage calculator gives you all the data you need to see how much your payment will be.
To get a more detailed and customized rate estimate, use “Get my Rate”.
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Mortgage Products
Disclosures
1Conventional Loans
Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on 1.0 discount point, which equals 1.0 percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, conforming, fixed-rate loan. Loan amount of $400,000; loan-to-value ratio of 75%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.
Rates quoted require a loan origination fee of 1%; not to exceed $1,995. Speak to a PenFed Mortgage Loan Officer for additional details.
2FHA Loans
Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on 1.0 discount point, which equals 1.0 percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, conforming, fixed-rate loan. Loan amount of $400,000; loan-to-value ratio of 96.5%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.
Rates quoted require a loan origination fee of 1%; not to exceed $1,995. Speak to a PenFed Mortgage Loan Officer for additional details.
3VA Loans
Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on 1.125 discount point, which equals 1.125 percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, conforming, fixed-rate loan. Loan amount of $450,000; loan-to-value ratio of 95%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.
Rates quoted require a loan origination fee of $995.
4Jumbo Loans
Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on 0.625 discount point, which equals 0.625 percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, non-conforming, fixed-rate loan. Loan amount of $1,009,000; loan-to-value ratio of 70%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.
Rates quoted require a loan origination fee of 1%; not to exceed $1,995. Speak to a PenFed Mortgage Loan Officer for additional details.
Fixed Rate Advance Lock-In You may lock in an Annual Percentage Rate for Advances during the Advance Period. During your Advance Period, you may choose to have three separate Fixed Rate Advances locked in at any one time, with a maximum of two new Fixed Rate Advances per calendar year. Each Fixed Rate Advance must equal or exceed Ten Thousand Dollars ($10,000.00) and you may not request a Fixed Rate Advance that would cause the amount you owe to exceed your Credit Limit. The only term option for your Fixed Rate Advance is 240 months (“Fixed Rate Advance Term”). However, the term of your Fixed Rate Advance cannot exceed your Repayment Period.
Routing #256078446
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