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A Bend, Oregon, mortgage calculator is a powerful tool for anyone considering buying a home in Bend. It helps estimate monthly payments, total interest paid, and the overall cost of the mortgage. By inputting the home price, down payment, loan term, interest rate, and property tax rate, you can gain a clearer picture of your financial obligations and ensure a smooth and successful home purchase.
Key Points
• A Bend mortgage calculator helps estimate monthly payments, total interest, and overall mortgage cost.
• The calculator factors in home price, down payment, loan term, interest rate, and property tax rate to estimate your monthly mortgage payment.
• A 20% down payment can eliminate the need for private mortgage insurance (PMI), potentially saving you money on your monthly mortgage payment.
• Choosing a 15-year mortgage term over a 30-year term can significantly reduce the total interest paid, though it results in higher monthly payments.
• First-time homebuyer assistance programs in Bend can provide financial aid for down payments and closing costs, making homeownership more accessible.
Bend Mortgage Calculator
Calculator Definitions
• Home price: The home price represents the purchase price you have agreed to with the home seller. Accurately inputting this value helps you get a realistic estimate of your monthly payments and overall home loan costs.
• Down payment: The down payment represents the initial amount the homebuyer provides upfront, often articulated as a percentage of the total purchase price. Most buyers contribute a down payment between 3% and 20% of the home’s value.
• Loan term: The loan term represents the length of time you have to repay the mortgage. Opting for a shorter term can lead to higher monthly payments but less interest paid overall.
• Interest rate: The interest rate is the cost of borrowing money, expressed as a percentage of the loan amount. A lower interest rate can significantly reduce your monthly payments and the total interest paid over the life of the loan.
• Annual property tax: The annual property tax is a yearly tax levied based on the home’s assessed value and location. In Bend, Oregon, property taxes are typically around 0.62% of the home’s value.
• Total monthly payment: The total monthly payment includes the principal, interest, and property tax. It may also include private mortgage insurance, homeowners insurances, and homeowners association (HOA) fees.
• \ Total interest paid: The total interest paid represents the cumulative amount of interest you will pay over the entire life of the loan. A higher interest rate or a longer loan term will result in a greater total amount of interest paid.
•\ \ Total loan cost: The total loan cost is the all-in amount you will pay for the loan, including both the principal and the interest. By comparing different scenarios, you can find the most cost-effective option for your budget.
How to Use the Bend, OR Mortgage Calculator
The Bend mortgage calculator is a user-friendly tool designed to help you estimate your monthly payments and understand the financial implications of different home loan scenarios. Here’s a step-by-step guide on exactly how to use the calculator:
Step 1: Enter Your Home Price
The home price is the amount listed in your contract. This figure helps estimate your monthly payments, total interest, and the overall cost of the mortgage.
Step 2: Select a Down Payment Amount
The down payment is the portion of the home price you agree to pay upfront. A larger down payment can reduce your monthly mortgage payments and potentially eliminate the need for private mortgage insurance (PMI). A down payment calculator can help you decide on your number.
Step 3: Choose a Loan Term
The loan term is the duration over which you will repay your mortgage. Consider your financial goals and budget when choosing the loan term that best suits your needs. Most consumers choose a mortgage with either a 30-year or a 15-year term.
Step 4: Enter an Interest Rate
The interest rate is a key factor in determining your monthly mortgage payment. Enter your expected interest rate to the second or third decimal point, such as 6.74%. If you’re looking at large loan amounts (over $800K), you’ll want to look at rates for jumbo loans.
Step 5: Add Your Annual Property Tax Rate
The annual property tax is the amount you will pay each year to the local government. Enter the property tax percentage, not the dollar amount. The Deschutes County (Bend) property tax rate is 0.62% of the home’s assessed value.
Benefits of Using a Mortgage Payment Calculator
A mortgage calculator helps you estimate your monthly payments and understand the financial implications of different loan scenarios. Before house hunting, you can assess affordability based on the loan amount, interest rate, and term. You can also see how different down payment amounts affect your monthly payment.
Mortgage calculators are particularly useful for first-time homebuyers who may not be aware of all that goes into a mortgage payment and how that payment is determined. Keep in mind, though, that the calculator is designed for fixed-rate mortgages. If you choose a loan with a variable rate, your payment will not remain the same throughout the life of the loan.
By using a mortgage payment calculator, you can set realistic savings goals, plan your budget effectively, and ensure that your home purchase is financially feasible.
In Bend, the median home sale price in 2025 was $699,000. Lenders generally suggest that housing costs should not exceed 28% of your gross monthly income. For a $699,000 home with a 20% down payment and a 7.00%, 30-year mortgage, you can expect a monthly payment of around $3,720, which would require an annual income of approximately $160,000.
Your total debt, including your mortgage, auto loans, student loans, and credit cards, should be within 36% of your gross monthly income. In this case, debts outside of your mortgage shouldn’t exceed $1,060 per month. Use a home affordability calculator for a rough estimate based on income and debt obligations.
It can be useful to go through the mortgage preapproval process with a potential lender to get a clear picture of how much of a loan you can afford.
Current mortgage rates by state.
Compare current home interest rates by state and find a mortgage rate that suits your financial goals.
Select a state to view current rates:
Components of a Mortgage Payment
The main components of a mortgage payment are principal and interest. The principal is the amount borrowed from a lender, while the interest is the cost of borrowing. The Bend mortgage calculator also factors in property tax. Other components of a mortgage payment may include:
• Homeowners insurance: Protection against damage to your home and personal property.
• Private mortgage insurance (PMI): Required if your down payment is less than 20% of the home’s value.
• HOA fees: Monthly or annual fees paid to a homeowners association for maintenance and management of common areas and amenities in a community.
If you’re considering an FHA loan, you may want to use an FHA mortgage calculator, which allows for that kind of loan’s mortgage insurance premiums.
Likewise, a VA mortgage calculator can be helpful if you’re looking at a loan backed by the U.S. Department of Veterans Affairs.
Cost of Living in Bend, OR
Bend is known for its stunning scenery and outdoor lifestyle, but those perks come with a higher cost of living than the national average. According to Best Places, the cost of living in Bend is 27% higher than the national average and 11% higher than the Oregon average. This is mostly due to housing expenses, which continue to rise due to high demand and limited inventory.
Other expenses in Bend, such as groceries, health care, and transportation, also tend to be slightly above average, though utilities are roughly 16% below the national average. Despite the higher costs, many residents find the area’s strong sense of community, access to nature, and high quality of life well worth it.
Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.
Bend’s First-Time Homebuyer Assistance Programs
If you’re buying your first home in Bend, there are several Oregon first-time homebuyer assistance programs available to help you cover the initial costs. These programs often provide financial aid for the down payment, closing costs, or both. To qualify, you typically must not have owned a primary residence within the past three years. These assistance programs can make homeownership more accessible and affordable, especially for those with limited savings.
Fortunately, you’re not necessarily stuck with the same mortgage payment until it’s paid off. Below are some strategies to reduce your monthly mortgage payments:
• Drop PMI. Once you reach 20% equity in your home, either through payments or home appreciation, you can request to remove private mortgage insurance (PMI), which can significantly lower your monthly mortgage payment.
• Consider mortgage recasting. Mortgage recasting involves making a lump sum payment to reduce your principal balance. Your lender will then re-amortize the loan, potentially lowering your monthly payments without extending the loan term.
• Appeal your property taxes. If you believe your property tax assessment is too high, you can appeal your property taxes. Start by reviewing your annual city property tax bill and comparing it to similar properties in your area.
• Modify your loan. If you encounter financial hardship, you may be able to modify your loan to make your monthly payments more manageable. Contact your lender to discuss your options and see if you qualify for a modification program.
• Extend the term of your loan.Refinancing your mortgage to a longer loan term can significantly reduce your monthly payments, offering immediate financial relief. However, this also means you’ll end up paying more in interest over the entire life of the loan.
• Shop for a lower homeowners insurance rate. By comparing different insurance providers, you can find a policy that offers better coverage at a more affordable price.
The Takeaway
Using our Bend mortgage calculator can help you estimate your monthly mortgage payments and understand the financial implications of different loan scenarios. This allows you to find a home that fits your financial goals and lifestyle.
Looking for an affordable option for a home mortgage loan? SoFi can help: We offer low down payments (as little as 3% - 5%*) with our competitive and flexible home mortgage loans. Plus, applying is extra convenient: It's online, with access to one-on-one help.
The average mortgage payment in Bend was $4,150 in 2025. But mortgage payments can vary based on home price, down payment, and interest rate. To get a precise estimate of what your mortgage payment could be, use a Bend mortgage calculator.
How does my credit score affect my mortgage loan interest rate?
Your credit score plays a significant role in determining your interest rate for a mortgage loan. A higher credit score generally leads to a lower interest rate, which can save you thousands of dollars over the life of the loan. Building your credit score before applying for a mortgage can help you secure better loan terms and reduce your monthly payments.
What are principal and interest on a mortgage loan?
The principal on a mortgage loan is the amount you borrow from the lender, while the interest is the cost of borrowing that amount, expressed as a percentage of the principal. Each monthly payment you make includes a portion that goes toward paying down the principal and another portion that covers the interest. Over time, more of your payment will go toward the principal as the loan balance decreases.
Should I choose a 30-year or 15-year mortgage term?
When choosing between a 15-year and 30-year mortgage, consider your finances. A 15-year mortgage builds equity faster with lower interest rates but higher payments. A 30-year mortgage offers lower payments, improving cash flow, but increases total interest paid. Use a mortgage calculator to compare costs and choose the best loan for your situation.
How much is a $600,000 mortgage payment for 30 years?
To estimate the total monthly payment for a $600,000 mortgage over 30 years, use the Bend mortgage calculator. Assuming a 7.00% interest rate, the monthly payment on a $600,000 home loan would be approximately $3,992. For a $600,000 home with 20% down ($120,000), the payment would be $3,193, assuming other variables remain the same.
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SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
¹FHA loans are subject to unique terms and conditions established by FHA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. FHA loans require an Upfront Mortgage Insurance Premium (UFMIP), which may be financed or paid at closing, in addition to monthly Mortgage Insurance Premiums (MIP). Maximum loan amounts vary by county. The minimum FHA mortgage down payment is 3.5% for those who qualify financially for a primary purchase. SoFi is not affiliated with any government agency.
†Veterans, Service members, and members of the National Guard or Reserve may be eligible for a loan guaranteed by the U.S. Department of Veterans Affairs. VA loans are subject to unique terms and conditions established by VA and SoFi. Ask your SoFi loan officer for details about eligibility, documentation, and other requirements. VA loans typically require a one-time funding fee except as may be exempted by VA guidelines. The fee may be financed or paid at closing. The amount of the fee depends on the type of loan, the total amount of the loan, and, depending on loan type, prior use of VA eligibility and down payment amount. The VA funding fee is typically non-refundable. SoFi is not affiliated with any government agency.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
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