Mortgage Zillow Calculator – The Truth About the Zillow Mortgage Calculator

mortgage zillow calculator

The mortgage Zillow calculator is an attractively designed calculator that promises to calculate the total mortgage payment. This payment includes principal and interest, as well as any private mortgage insurance. You can also calculate homeowners association fees, property taxes, and homeowner’s insurance. But does the Zillow mortgage calculator really work? It’s easy to see why people are skeptical of this calculator, but thankfully, there are many others available on the internet.

Simple to use

When you want to get an accurate idea of the payment you need to make on your mortgage, a simple to use mortgage Zillow calculator is the perfect tool. All you have to do is enter the price of your home, your down payment, and the interest rate you want. Zillow will then calculate your monthly payment and amortization schedule, allowing you to make any necessary adjustments to your mortgage terms. The calculator is easy to use and can save you thousands of dollars in the process.

The mortgage calculator is a great tool for first-time homebuyers. It asks for information like the purchase price, down payment, and loan amount. You can even enter your property tax rate, which will determine the amount of interest you pay each month. The calculator also includes an estimated amount of home insurance, which most lenders require. You can edit these numbers as necessary in advanced settings. This mortgage calculator is the best tool for figuring out your monthly mortgage payment.

Lack of PMI

The Zillow mortgage calculator does not consider private mortgage insurance (PMI) for a 20% down payment. It does, however, calculate the PMI amount at half a percent, which is higher than the actual rate. This can result in a large variance in the mortgage number. In addition, the calculator may not take into account your own private mortgage insurance (PMI).

If you have little or no money down, you can get around the problem by taking a piggyback mortgage. If you borrow 80% of the property value, the mortgage company will pay the remaining 10%. This works out to less than 5% down, and it also protects the mortgage company from the risk of your default. The Zillow mortgage calculator also neglects to include HOA dues. Despite the obvious drawbacks, this tool seems like it’s the best option at the moment.

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Ignores HOA dues

The Zillow mortgage calculator has an attractive design and seems to be a useful tool. This tool promises to calculate your total mortgage payment, including principal and interest, private mortgage insurance, property taxes, homeowners association dues, and home insurance. But, it ignores the HOA dues. How does it do this? Read on to discover the truth about Zillow’s mortgage calculator. We tested it for three weeks and found out the real costs of homeowner’s associations.

The Zillow mortgage calculator ignores HOA fees, although some homeowners pay them monthly. The HOA fees may cover maintenance and amenities, and some insurance. If you are not aware of HOA dues, leave the field blank. Other important factors include principal and interest, mortgage insurance, and escrow, which pay property taxes and homeowner’s insurance monthly. As a result, your monthly mortgage payment will be around $30,400 if you choose a 30-year term.

Ignores upfront fees

The Zillow mortgage calculator is a handy tool, and it promises to estimate your total mortgage payment based on the amount of principal and interest, private mortgage insurance, property taxes, homeowners association fees, and homeowners association fees. However, there is a problem with this calculator: it does not account for some of these fees, and the numbers may be significantly different than your actual payment. In addition, Zillow does not include all fees, such as PMI, which you should know about before applying for a mortgage.

Many mortgage calculators are based on historical averages that require a 20% down payment. These calculations do not reflect current trends in mortgage prices, which are lower than the historical average. Many homebuyers put down less than 20% of the purchase price. This results in an unrealistic estimate of the total monthly payment. The Zillow mortgage calculator should consider all fees and readjust its calculations whenever the number falls below 20.


One of the biggest mistakes many buyers make is not checking the costs of a property before making a decision. For example, Zillow’s mortgage calculator often underestimates homeowners insurance and property taxes. However, Redfin automatically pulls HOA dues from a listing, so you won’t have to worry about those. Similarly, Redfin tends to overestimate mortgage rates and understate taxes. While this makes buying a home more expensive than it should be, it’s still a great option.

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There are many mistakes with Zillow’s mortgage calculator, but there’s only one that’s glaringly obvious. It does not account for down payment or private mortgage insurance, which can be costly if you’re not paying enough for your down payment. Also, if you’re making a larger down payment than you should, Zillow’s mortgage calculator does not reflect this correctly.


The Zillow Mortgage Calculator is a useful tool that will help you find the right mortgage for your financial situation. However, this calculator does not consider all the costs that homebuyers have to pay. HOA dues and private mortgage insurance aren’t calculated as part of the loan amount, and the tool will not take these into account. If you’d like to avoid paying these fees, you’ll want to use one of the other mortgage calculators available.

The Zillow mortgage calculator only gives you a sample interest rate; the rate you’re quoted will vary from the actual rate. Additionally, you should know that mortgage rates depend on several variables. For example, you should make sure you enter the amount of down payment you’re prepared to pay, since this will lower your monthly payments. Also, consider how much homeowners insurance you’ll need to protect your home. In some cases, this amount can be edited in the advanced options.

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