Pennsylvania Mortgage Calculator

Use this free mortgage calculator to estimate your monthly mortgage payments and annual amortization.

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2024

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Total monthly payment

$0.00

Total principal$0

Total interest payments$0.00

Total loan payments$0.00

Monthly mortgage payment$0.00

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Taking out a mortgage in Pennsylvania

Written by NerdWallet

Pennsylvania, the Keystone State, saw home prices rise by 5.5% last year with the growth rate expected to rise in 2019. The cost of living in Pennsylvania is low relative to other states, with homeowners spending 19% of their monthly income on housing costs. Even major cities like Pittsburgh and Philadelphia are relatively affordable compared to other major metros. That would likely make the signatories of the Declaration of Independence, who gathered at Independence Hall in Philadelphia, proud given how they focused on liberating the colonies from extra costs (taxes) imposed on them by the monarchy.

Pennsylvania's first-time home buyer programs

The Pennsylvania Housing Finance Agency, or PHFA, offers several loan programs to help qualified first-time home buyers get a mortgage. Learn more

Average property tax by county

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in Pennsylvania. Because assessed values aren’t frequently updated, you may pay a higher rate at first but eventually you’ll pay a similar rate.
CountyAvg. property tax rateMedian home value
Adams County1.33%$255,900
Allegheny County1.61%$221,700
Armstrong County1.46%$137,700
Beaver County1.38%$178,600
Bedford County0.81%$165,200
Berks County1.79%$248,200
Blair County1.07%$159,000
Bradford County1.08%$169,700
Bucks County1.33%$427,500
Butler County1.09%$286,000
Cambria County1.31%$114,400
Cameron County1.4%$85,900
Carbon County1.64%$202,700
Centre County1.11%$309,100
Chester County1.32%$454,500
Clarion County0.99%$143,300
Clearfield County1.21%$124,200
Clinton County1.14%$165,100
Columbia County1.07%$183,200
Crawford County1.37%$146,100
Cumberland County1.19%$259,800
Dauphin County1.42%$217,400
Delaware County1.74%$316,200
Elk County1.23%$121,900
Erie County1.63%$165,600
Fayette County1.1%$130,800
Forest County0.83%$102,300
Franklin County1.06%$235,800
Fulton County0.94%$188,000
Greene County1.18%$140,900
Huntingdon County0.81%$169,000
Indiana County1.51%$150,100
Jefferson County0.96%$121,100
Juniata County0.85%$185,900
Lackawanna County1.52%$183,200
Lancaster County1.31%$287,200
Lawrence County1.35%$128,800
Lebanon County1.31%$228,800
Lehigh County1.6%$287,300
Luzerne County1.49%$169,600
Lycoming County1.35%$194,700
McKean County1.35%$96,600
Mercer County1.21%$156,000
Mifflin County1.4%$131,300
Monroe County1.89%$260,300
Montgomery County1.41%$413,100
Montour County1.01%$227,800
Northampton County1.66%$292,300
Northumberland County1.21%$161,500
Perry County1.17%$210,600
Philadelphia County0.88%$237,900
Pike County1.34%$225,100
Potter County1.13%$135,200
Schuylkill County1.4%$141,700
Snyder County1.11%$197,300
Somerset County1.1%$136,300
Sullivan County0.89%$179,000
Susquehanna County0.96%$199,000
Tioga County1.13%$165,000
Union County1.2%$210,300
Venango County1.25%$108,500
Warren County1.28%$116,300
Washington County1.17%$224,300
Wayne County1.15%$211,000
Westmoreland County1.31%$193,000
Wyoming County1.4%$194,700
York County1.68%$239,000
Source: American Communities Survey 2022, U.S. Census

How to use the mortgage calculator

  1. Under "Loan amount," enter the amount you intend to borrow.

  2. Under "Interest rate," enter the mortgage interest rate that you expect to get.

  3. Under "Loan term (years)," enter the length of the mortgage in years. Most mortgages have 30-year terms.

After you enter these three pieces of information, the calculator prominently displays the monthly payment inside the "Your loan estimate" window. It also displays:

  • The loan amount (under "Total principal").

  • How much interest you would pay over the life of the loan ("Total interest payments").

  • The total principal plus interest you would pay over the loan's term ("Total loan payments").

  • The monthly principal and interest payment excluding taxes and insurance ("Monthly mortgage payment").

  • The payoff date, which is the month when you would pay the last scheduled payment.

Calculating costs in addition to principal and interest

The calculator lets you fine-tune your payment by entering your annual property tax premium, annual home insurance premium, monthly homeowner association fee and monthly cost of mortgage insurance. Note that you'll enter the annual cost for property tax and home insurance, and the monthly cost for HOA fees and mortgage insurance.

Select "Show amortization schedule" to uncover a table that shows how much you'll pay in principal and interest each month, as well as the remaining amount you owe ("Principal balance") after making the payment.

Explanation of terminology

  • Loan amount: Also known as principal, this is the amount you borrow. Each mortgage payment reduces the principal you owe.

  • Interest rate: How much the lender charges you to lend you the money. Interest rates are expressed as an annual percentage. A lower interest rate gives you a smaller monthly payment.

  • Loan term (years): The term is the number of years it will take to pay off the mortgage. A longer term gives you a lower monthly payment than a shorter term does. But you pay more total interest with a longer term because you're paying interest for more months.

  • Start date: The month that your first mortgage payment is due.

  • Property taxes: The annual tax assessed by a government authority on your home and land. You pay about one-twelfth of your annual tax bill with each mortgage payment, and the servicer saves them in an escrow account. When the taxes are due, the loan servicer pays them.

  • Homeowners insurance: Your policy covers damage and financial losses from fire, storms, theft, a tree falling on your house and other bad things. As with property taxes, you pay roughly one-twelfth of your annual premium each month, and the servicer pays the bill when it's due.

  • Monthly HOA fees: The amount you may pay each month if you belong to a homeowners association. Typically, these dues are billed directly, not added to the monthly mortgage payment. Because HOA dues can be easy to forget when considering the cost of homeownership, NerdWallet's mortgage calculator allows you to enter them here.

  • Private mortgage insurance: If your down payment is less than 20% of the home’s purchase price, you’ll likely pay mortgage insurance. It protects the lender in case a borrower defaults on a mortgage.

Using the mortgage calculator to compare scenarios

This mortgage calculator lets you change the loan amount, interest rate, loan term and other factors so you can see the effect on monthly payments.

Feel free to test it out by entering your loan amount, then altering the interest rate or the loan term (or both). You won't break anything!

If you're looking to see how much you could save by refinancing your mortgage, try NerdWallet's refinance calculator.

» MORE FOR CANADIAN READERS: Canada mortgage payment calculator

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