Monthly Mortgage Payment Calculator
Calculate your estimated monthly mortgage payment for your new home purchase.
Have Questions About Home Loans?
View All FAQsThe home you can afford is based on the amount of mortgage loan you can comfortably support. Generally, the amount of mortgage you qualify for is based on some basic information such as: your income, debts, assets, credit history, current employment situation, and any other obligations you may owe. Another factor that will impact the amount of home you can afford is how much cash is required for down payment and closing costs.
Try our "How Much Home Can I Afford?" calculator to get an estimate and see how much you can potentially afford.
Establish your budget and determine how much you can afford to spend on your new home by getting pre-approved. Taking this action before shopping ensure that you are shopping for a home with a list price that you are comfortable with when it is time to make an offer.
First-time home buyer programs are for individuals who meet certain income requirements, who are financing property in certain census tracts, or who meet other special requirements. We participate in special loan programs throughout the state and USDA Rural Housing Loans. Benefits include:
- Lower down payments than most other financing options so you will not need as much cash to buy a home.
- Competitive interest rates.
- Reduced closing costs and mortgage loan fees.
Other restrictions may apply.
Generally, you must complete a full mortgage application in order to lock a rate. You can work with your loan originator to discuss your mortgage options. He or she will also help you complete the application and lock in a rate when you are ready.
Closing costs generally range from 2% to 3% of your loan amount. Closing costs can be divided into three main categories:
- Lender fees. Fees can include origination and points.
- Third-party fees. These fees vary by state and the attorney you select to close your loan. They can include attorney’s fees for closing, title exam, credit report, appraisal, title insurance and recording.
- Prepaid items. These are items collected at the time of closing but are not really considered costs including interim interest, taxes, and hazard insurance.
You will be provided with an estimate of your closing costs soon after your application has been received. These estimates could change if you change the product type or loan amount.
Experienced Mortgage Professionals
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This calculator is an illustrative tool meant for educational purposes only. The default figures and examples shown are hypothetical and may not be applicable to your individual situation. Furthermore, these calculations may not reflect the terms available for any loan, investment or other financial product offered by SouthState Bank, N.A. (the “Bank”). The calculations do not infer that the Bank assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.
All loans are subject to credit approval.
