What are the principal and interest on a mortgage loan?

Principal is the amount you borrow to pay the price of your home. Interest is the cost of borrowing that principal, and is expressed as a percentage. Your early mortgage payments will go in large part towards covering the interest, but as you continue to make monthly payments, you’ll gradually pay more and more to the principal. You also build more equity as you go.

Can I afford a $300K house on a $70K salary?

You are close to being able to do it, but would be wise to choose a home with a smaller price tag. Paying off a $300,000 property when you’re making $70,000 annually is likely to feel like a strain unless you can make a big down payment, which will bring down the loan principal. Advisors say you shouldn’t buy a home at a price higher than three times your total salary. You can try using a home affordability calculator to figure out just how much that down payment would need to be to be to make a $300,000 home doable.

Oct

2025

Free Missouri Home Mortgage Loan Calculator

By Dana Paltao | Uncategorized | Comments Off

Missouri Mortgage Calculator

Q: What is a mortgage payment?

A monthly mortgage payment includes your home loan’s principal and interest you are paying on it. If your down payment is less than 20%, your payment will also include PMI, or private mortgage insurance. Lenders often roll property tax, homeowners insurance, and/or homeowners association dues into the amount. Understanding what your loan payment includes can help you budget effectively.

Q: How does my credit score affect my mortgage loan interest rate?

Your credit score is a big determiner of your mortgage interest rate. A higher score will reliably lead lenders to offer you a more favorable rate. A lower score may be a factor in your having to pay a higher rate. Either way, your score is also going to impact your home loan’s total cost.

By SoFi Editors | Updated October 3, 2025

If you want to own a home in the Show Me State, it’s time to take essential steps to prepare. These include not only finding a dream house, but figuring out if you can handle the mortgage payments, and knowing exactly how you’ll pay them each month. This Missouri mortgage calculator can help you see how your monthly expenses might look in homeownership, and can assist you in making informed decisions about your down payment, loan term, and more. Keep reading to learn how to get the most out of this mortgage calculator as you look for your future home in Missouri.

Key Points

• To use the mortgage calculator, you’ll need to input the home’s purchase price, down payment, interest rate, and loan term.

• The home’s property tax rate in Missouri will impact the monthly payment amount. The statewide property tax rate is 0.82%.

• A loan’s term will have a huge impact on monthly and overall costs, and ranges from 10 to 30 years.

• Programs for first-time homebuyers can help resourceful buyers afford their down payment, or cover the closing costs when purchasing a property.

• The mortgage calculator can help you figure out what home price, down payment, and interest rate are going to make the best sense for your financial situation.

Missouri Mortgage Calculator

Calculator Definitions

• Home price: The home price is the purchase price you and the property’s seller have agreed on. This number may not be the same as the listing price or the initial offer you made on the house.

• Down payment: The down payment is the amount you, as homebuyer, pay upfront. It’s often expressed as a percentage of the home price, and buyers commonly put down between 3% and 20%. You can use a down payment calculator to see how a certain percentage translates into a dollar amount.

• Loan term: Most homebuyers pay off their mortgages over a 15-year or 30-year term, but 10- and 20-year terms are also commonly available. Choose a longer term and you’ll have lower payments but also pay more interest over the life of the home loan. A shorter term means you’ll have higher monthly payments but earn equity faster and pay significantly less interest in the end.

• Interest rate: The interest rate is the cost of borrowing the money to buy a home, expressed as a percentage of the loan amount. Interest rates will vary based on your qualifications as a borrower, market trends, and the type of mortgage loan you apply for.

• Annual property tax: Property tax is expressed as a percentage of a home’s assessed value, and is levied by the local government on land and buildings. In Missouri, you’ll pay an annual property tax rate of 0.82%.

• Monthly payment: The monthly payment the Missouri calculator comes up with will include the loan principal, interest, and property taxes. You may also need to add some additional budget for private mortgage insurance (PMI), homeowners insurance, and/or homeowners association (HOA) fees.

• Total interest paid: This is how much the loan will accrue in interest over its entire life. This figure is larger if you choose a longer loan term, and either way it can be substantial. The Missouri mortgage calculator can show you how different down payment amounts, interest rates, and loan terms affect the interest you will pay on the money you borrow.

• Total loan cost: The total loan cost is the all-in amount you’ll pay, including principal and interest. This figure gives you a clear understanding of the long-term financial commitment you make when you buy a home.

Missouri Cities’ Cost-of-Living Stats
Columbia	90.1
Joplin	85.9
Kansas City	91.1
Springfield	87.3
St. Louis	89.1

Oct

2025

Free Mississippi Home Mortgage Loan Calculator

By Dana Paltao | Uncategorized | Comments Off

Mississippi Mortgage Calculator

By SoFi Editors | Updated September 30, 2025

If you are considering buying a home in the Magnolia State, you’ll want to have an understanding of your home budget, your down payment amount, and the mortgage interest rate on your home loan. A Mississippi mortgage calculator can be an invaluable tool for you. It can provide estimates on costs and allow you to run the figures on different scenarios as you look for the combination of price, down payment, and loan details that will be best for you. This guide walks you through how you can use the calculator. It explains monthly housing cost influences so you can make smart homeownership moves.

Key Points

• The Mississippi mortgage calculator will estimate your monthly payments based on the home price, your down payment, interest rate, loan term, and property taxes.

• Using a calculator helps you as a buyer understand the true cost of homeownership. It can help you prepare and stay within your budget.

• It takes just minutes using the calculator to see how different scenarios may affect your payments.

• Down payment assistance programs in Mississippi can reduce your upfront costs, making homeownership more accessible.

• The mortgage preapproval process is another avenue to gaining an understanding of monthly payments, and exactly how much home you can afford to buy.

Mississippi Mortgage Calculator

Calculator Definitions

• Home price: Your home price is the purchase price you’ve agreed to with the home seller. Inputting this number accurately will ensure reliable estimates.

• Down payment: The amount you pay upfront is your down payment, which is often discussed as a percentage of the home price. A 20% down payment lets you avoid private mortgage insurance (PMI).

• Loan term: The loan term is the duration to repay the mortgage, typically 15 or 30 years. A 30-year term offers lower monthly payments, while a 15-year term reduces total interest paid.

• Interest rate: The interest rate is the cost of borrowing, expressed as a percentage of the loan amount. The higher rate you have, the more your monthly payments and total interest paid will be.

• Property tax: Property tax is typically a percentage of a home’s assessed value. The effective tax rate in Mississippi is 0.70%. Since property tax costs can be significant, they are often divided up and folded into your mortgage payment each month.

• Monthly payment: Your monthly payment will include the loan principal, interest, and most likely property tax.

• Total interest paid: The amount of interest you’ll be responsible for over the life of the loan is your total interest paid. It’s influenced by the loan interest rate, term, and principal amount.

• Total loan cost: Your principal and accumulated interest add up to the total loan cost. If you choose a longer term for your loan, it will result in a higher total loan cost.

How to Use the Mississippi Mortgage Calculator

Step 1: Enter Your Home Price

Type eifgebgidlcbnghlvndfftcnkncjfhuvjkbddltkhrbvin the home price you’ve agreed upon with the seller.

Step 2: Select a Down Payment Amount

Choose the down payment percentage. This number will significantly affect your monthly mortgage payments. If you’re unsure of how much cash you’ll need to get to a certain percentage of the home price, you can use a down payment calculator.

Step 3: Choose a Loan Term

Select a term of between 10 and 30 years, based on your financial goals as well as your budget constraints.

Step 4: Add an Interest Rate

Input your desired interest rate — or the one you’ve been offered by a lender — to the second or third decimal point for the most accurate estimates.

Step 5: Add Your Property Tax

Enter the property tax rate as a percentage. This will help the calculator estimate your total monthly payment. You can use the average effective tax rate for Mississippi, which is .64%, or look up the specific rate for the property by searching its ZIP code and “effective property tax rate.”

Benefits of Using a Mortgage Payment Calculator

A mortgage calculator will estimate your monthly home loan payments based on the price of the property, the loan amount, and your interest rate and loan term. By factoring in the local property taxes, you’ll get a clearer picture of the total cost of owning the home.

If you are buying your first home, it can be particularly helpful to put different scenarios into a mortgage calculator so you can see how your choices will impact your expenses, both month-to-month and over the long term. You’ll get a good understanding of how the size of your down payment affects both your monthly and total costs.

The mortgage calculator works best for estimating the variables on fixed-rate mortgages. If the type of mortgage loan you choose has a variable interest rate, you can still estimate your costs, but the numbers will be less precise due to rate fluctuations.

Recommended: Average Monthly Expenses for One Person

Deciding How Much House You Can Afford

The median Mississippi home sale price in mid-2025 was a relatively affordable $265,700, well below the U.S. average of more than $440,000 reported by Redfin. Lenders recommend that your home loan payment should not exceed 28% of your gross monthly income. To buy a $270,000 home with a 20% down payment (that’s $54,000) and a 30-year mortgage at 7.00%, you’d need a minimum income of around $74,000, though you would need more income if your down payment was smaller or if you’re carrying other debts. Your monthly mortgage payment would be about $1,720 monthly.

You can use a home affordability calculator, too, which lets you work backward from your annual income, factor in your debts, and arrive at an ideal price for a home you can afford.

Another way to zero in on how much house fits into your budget is to participate with a lender in the mortgage preapproval process. You’ll follow steps and submit detailed financial information. If you qualify, the lender will provide you with a loan amount and an estimated interest rate.

Components of a Mortgage Payment

Principal and interest are a mortgage payment’s two primary components. This mortgage calculator factors in property taxes, too. They are often folded into monthly loan payments. (It’s in your lender’s best interest to make sure you are able to cover your tax bills, and breaking down what can be a large amount into 12 installments helps.) Your monthly payment may also include PMI (or private mortgage insurance, which is necessary if your down payment is under 20%) or homeowners association (HOA) fees, depending on your situation.

If you are thinking about a Federal Housing Administration (FHA)-guaranteed home loan, you’ll want to use an FHA mortgage calculator, which factors in the loan’s upfront mortgage insurance premiums.

Maybe you are looking at a loan backed by the U.S. Department of Veterans Affairs. In this case, a VA mortgage calculator is your best bet.

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:

Cost of Living in Mississippi

The cost of living in Mississippi is relatively low compared to the national average, which means you’ll get more for your dollar in this state. On an index where 100 is the U.S. average cost of living, Mississippi weighs in at 87.3 — it’s the 2nd most affordable state in the country. When you think about your housing budget, remember that you’ll have to pay for other things besides the house itself. Necessities like utilities and transportation-related costs are also below-average in Mississippi, but groceries may not be cheaper than they are in other states.

Relatively affordable living is abundant in Mississippi. Many cities here make a list of the best affordable places in the U.S., including Yazoo City, Greenville, and Meridian. Every major city in Mississippi enjoys a below-average cost of living index, according to COLI 2024 Annual Average Data.

Mississippi Cities’ Cost-of-Living Stats
Hattiesburg	89.2
Jackson	89.6
Meridian	90.0
Tupelo	82.7

Recommended: The Cost of Living in the U.S.

Run the numbers on your home loan.

Mortgage calculator

Punch in your home loan amount and a new interest rate, and we’ll estimate your payoff date.

Calculate
Down payment calculator

Enter a few details about your home loan and we’ll provide your monthly mortgage payment.

Calculate
Home affordability calculator

Provide us with a few details and see how much you can afford to spend on a home purchase.

Calculate

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.

Tips on Reducing Your Mortgage Payment

Mississippi homebuyers have some options when a mortgage payment is too much. Here are some possible ways to reduce the amount you have to pay monthly:

• Recast your mortgage. Make a lump-sum payment toward the principal you still owe and then ask the lender to recalculate the payment.

• As soon as you reach 20% home equity, drop that PMI. (You’ll need to inform your lender that you no longer require the insurance.)

• Extend your loan term to lower your monthly payments.

• Look for a cheaper homeowners insurance policy.

• Think about appealing your property taxes — though only if you can really determine that they are too high. Inviting scrutiny of a property’s worth can result in a tax increase, which might actually up your payment. Exercise caution here.

• Discuss a loan modification with your lender if you’re facing financial hardship.

• If interest rates have dropped since you bought your home, consider a mortgage refinance.

Mississippi First-Time Homebuyer Assistance Programs

If you qualify as a first-time homebuyer in Mississippi, you may be able to tap into state programs and receive aid with your down payment or closing costs — resources are out there to make homeownership accessible to people with limited savings. You could even get new homebuyer perks if you haven’t owned a primary residence in the last three years. The Mississippi Home Corporation provides below-market-interest-rate assistance for eligible low- and middle-income buyers, including teachers.

Consult a guide to first-time homebuying programs in Mississippi for advice.

The Takeaway

Spending a little time with the Mississippi mortgage calculator can help you to understand the financial commitment you’ll be making when you close on your home and sign on the dotted line. It can help you to know just what taking out a mortgage can cost you, and to make an informed decision about which house you can afford. Whether you are a first-time homebuyer or have experience as a property owner, the calculator will provide you with valuable insights.

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.

SoFi Mortgages: simple, smart, and so affordable.

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FAQ

How does my credit score affect my mortgage loan interest rate?

Your credit score affects your mortgage interest rate in a big way. A higher score may win you better loan terms and a lower interest rate. A lower score could mean paying a higher rate and having to meet much stricter lending requirements.

How much does my down payment need to be on a mortgage?

You should put down the greatest amount you can feel comfortable with, your financial situation fully considered. If you can make a 20% down payment, it will let you avoid PMI, and reduce your monthly payments and the overall loan cost. A first-time homebuyer might be able to put down as little as 3% toward a home’s purchase price, and a repeat buyer may be able to pay only 5%. To determine what your down payment should be, take a close look at your financial picture and figure out what is realistic for you. Run the numbers, too, to see how paying more upfront can save you money in the long run.

Should I choose a 30-year or 15-year mortgage term?

When deciding on a mortgage term, consider that a 30-year loan will offer you lower monthly payments but mean you’ll pay more interest over time. A 15-year term, meanwhile, requires higher monthly payments but lets you save on interest overall. Assess your financial goals and budget and know that opting for the shortest term you can swing is the soundest choice.

How can I secure a lower interest rate?

Get your credit score up to 700 or higher to be eligible for the most competitive rates. You can go through the prequalification process with a few lenders, compare the rates you are offered, and pick the best one. If you can afford it, get together a larger down payment, which lenders tend to reward with better rates and terms. If you own a home already, explore mortgage refinancing if you think you can beat your old loan with one at a new, lower rate. (Don’t forget to factor in the closing costs.)

Learn more about mortgages:

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

SoFi Loan Products
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.

SOHL-Q325-096

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Oct

2025

Free Maine Home Mortgage Loan Calculator

By Dana Paltao | Uncategorized | Comments Off

Maine Mortgage Calculator

By SoFi Editors | Updated October 7, 2025

House hunting can be stressful, but online tools can make the process go much more smoothly. All you have to do is input a few numbers — your home price, down payment, loan term, interest rate, and property tax rate —- and this Maine mortgage calculator can tell you what your monthly payment and total interest cost would be for that home loan. Whether you’re a first-time homebuyer or a seasoned homeowner, this free online tool can provide valuable insights to guide your financial decisions. Let’s take a closer look at how it works and how it can help you.

Key Points

• The Maine mortgage calculator can show you what your monthly payment and total interest costs would be for different loan amounts, rates, and terms.

• You can explore down payment assistance programs in Maine to reduce your upfront home-buying expenses.

• Making a down payment of 20% or more can help you avoid paying private mortgage insurance (PMI) and lower your monthly payments.

• A longer loan term will result in lower monthly payments, but you’ll pay more in interest over the life of the loan, while a shorter term means higher payments but lower interest costs overall.

• In addition to principal and interest, your mortgage payment may cover installments on your property tax and homeowners insurance. It could also include private mortgage insurance (PMI) and homeowners association fees, if relevant.

Maine Mortgage Calculator

Calculator Definitions

• Home price: This is the purchase price that you and the home seller agree upon. This figure is likely to differ from the listing price and from the first offer you made.

• Down payment: This is the amount that you’ll pay upfront for your house. It’s generally expressed as a percentage of your total purchase price, and most buyers put down between 3% and 20%. You may be able to find down payment assistance programs that can help you pay for this expense.

• Loan term: This is the length of time you have in which to repay your home loan, usually 15 or 30 years. A shorter term can reduce the amount of total interest you’ll pay but will increase the amount of your monthly payments.

• Interest rate: This is the cost of borrowing money, expressed as a percentage of your loan amount. A lower interest rate can significantly reduce the size of your monthly payments and the total interest that you’ll have to pay over the life of the loan.

• Annual property tax: Property tax is levied by local governments on land and buildings, and it’s usually expressed as a percentage of the property’s assessed value. To figure out your property tax rate, search online for the town, county, or ZIP code where the property is located and “effective property tax rate.”

• Monthly payment: This is a major feature of your mortgage. It’s what you will pay toward the principal and interest each month. It may also include property tax if you’ve entered your rate.

• Total interest paid: This is the accumulated amount of interest that you will have to pay over the life of the loan. This figure is influenced by your interest rate, loan term, and principal amount.

• Total loan cost: The total loan cost is the full amount that you will need to pay back on the loan, including principal and interest. The exact amount will be influenced by factors like your loan principal, interest rate, and loan term.

How to Use the Maine Mortgage Calculator

This free online calculator is quick and easy to use. These step-by-step instructions can guide you through the process.

Step 1: Enter Your Home Price

Enter the price that you and the seller have agreed on as the purchase price for the property.

Step 2: Select a Down Payment Amount

Choose the percentage of the home price you want to pay upfront. A larger down payment can reduce your monthly payments and lower how much total interest you’ll pay. A down payment calculator can help you decide what amount will work for you.

Step 3: Choose a Loan Term

Select the period of time over which you’ll repay your mortgage, which is typically 15 or 30 years. A longer term means lower monthly payments but higher total interest costs.

Step 4: Enter an interest rate

Input your desired interest rate to the second or third decimal point. A lower rate can reduce monthly payments and total interest paid. Bear in mind that if you are purchasing a very expensive property, it can be a good idea to look at rates available specifically for a jumbo loan.

Step 5: Add your annual property tax

Enter the percentage of your home’s value that you will pay each year to the local government. If your rate is 0.94%, for instance, you’ll enter 0.94. Including your tax rate helps you get a more comprehensive view of your mortgage costs.

Benefits of Using a Mortgage Payment Calculator

A mortgage calculator can help you estimate the affordability of different home loan options by calculating monthly payments and total loan costs based on the numbers you enter for your home price, down payment, interest rate, loan term, and property tax rate. The tool can also be useful when it comes to loan comparisons, allowing you to quickly assess the impact of different interest rates or terms as you search for the option that will work best for you. Whether you’re buying your first home or contemplating a refinance, the Maine mortgage calculator is an essential tool.

The Maine mortgage calculator is designed for fixed-rate mortgages. If you choose a type of mortgage loan with a variable interest rate, it’s still possible to estimate your costs with this tool, but your results will be less precise due to the variable rate’s unpredictability.

Recommended: The Cost of Living in the U.S.

Deciding How Much House You Can Afford

As of late 2025, the median sale price of a home in Maine is $417,000. If you buy a house at this price with a 20% down payment and a 30-year term at a 7.00% interest rate, you can expect to pay about $2,219 per month toward principal and interest.

Lenders often use the 28/36 rule for affordability as a guideline. This means that they want to see that a borrower will pay no more than 28% of their gross monthly income on their mortgage payment (and no more than 36% on all debt). In this case, that would require an annual income of about $95,000. It would also mean that, per the rule, you’d have about $634 per month to spend on other debt obligations, like car loans and student loans.

Another way you can estimate how much you can afford to pay for a home is to use a home affordability calculator. And going through the mortgage preapproval process with one or more potential lenders can also give you an idea of how large a loan you’ll be able to 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

When you send in your monthly mortgage payment, your money actually pays for several different costs. The primary ones are the loan principal (the money you borrowed) and the interest on your loan. In addition, your payment may also cover installments on your property tax and homeowners insurance. If your down payment was less than 20%, private mortgage insurance (PMI) may also be included, and if you belong to a homeowners association (HOA), those fees might be part of your mortgage payment as well.

The type of mortgage loan you choose may also influence what exactly your mortgage payment covers, and specialized calculators may be helpful here. If you’re thinking about applying for an FHA loan — one that’s guaranteed by the Federal Housing Administration (FHA) — you may want to use an FHA mortgage calculator, which allows for that kind of loan’s mortgage insurance premiums. Similarly, a VA mortgage calculator can incorporate relevant fees when you’re looking at a loan backed by the U.S. Department of Veterans Affairs.

Cost of Living in Maine

Overall, the cost of living in Maine is 13.0% above the national average, which means that it’s not the cheapest state — but it’s far from the most expensive one, either. As you’re deciding where exactly you’d like to reside in the state, it’s worth remembering that different areas can be more or less expensive to live in. The Council for Community and Economic Research’s Cost of Living Index (COLI) ranks the cost of living in major metropolitan areas in the U.S., according to a scale on which the national average is 100. Portland, as Maine’s largest city, is rated at 112.2, but more rural areas farther north may be less expensive.

Run the numbers on your home loan.

Mortgage calculator

Punch in your home loan amount and a new interest rate, and we’ll estimate your payoff date.

Calculate
Down payment calculator

Enter a few details about your home loan and we’ll provide your monthly mortgage payment.

Calculate
Home affordability calculator

Provide us with a few details and see how much you can afford to spend on a home purchase.

Calculate

Tips on Reducing Your Mortgage Payment

If you’re in a housing market that’s a little pricey for your taste and you’d like to whittle down your mortgage payments as much as possible, there are steps you can take.

• Explore down payment assistance programs. A larger down payment can mean lower monthly payments and help you avoid paying mortgage insurance. While many of these programs are specific to first-time homebuyers, that category often includes prior homeowners who haven’t owned a primary residence in the last three years.

• Drop private mortgage insurance payments. Once you have 20% home equity, you can request that your lender cancel your PMI.

• Recast your loan with a lump sum payment. If you receive a windfall and put it toward your loan principal, you can ask your lender to reamortize your loan, which can reduce your payment amount without changing your interest rate and loan term.

• Appeal high property taxes. If you believe your home was overvalued, you can take your case to your tax authority for redress.

• Cut homeowners insurance costs. You can raise your deductible, bundle policies to get a discount, or shop around for a cheaper policy.

• Consider a mortgage refinance. If you have a home loan already and rates drop or your credit improves, you might be able to get a more favorable interest rate.

Recommended: Average Monthly Expenses for One Person

Maine First-Time Homebuyer Assistance Programs

If you’re buying your first home in Maine, it’s a good idea to look into some of the available low-interest mortgage and down payment assistance programs. Maine Housing’s programs, for instance, can provide low- or no-down payment loans and financial help for your down payment and closing costs, making it easier to enter the housing market.

Keep in mind that while programs like these are often meant for people making their initial foray into the housing market, many others can qualify as first-time homebuyers, too — including repeat buyers who haven’t owned a primary residence within the past three years.

The Takeaway

A Maine mortgage calculator helps you estimate home loan costs like monthly payments and total interest. By entering the home price, down payment, loan term, interest rate, and local property tax rate, you can evaluate how affordable a mortgage will be for you. The calculator shows how different down payments and loan terms affect mortgage costs, helping you make informed decisions. Whether you’re buying your first home or your fifth, the Maine mortgage calculator can guide you through many of the financial complexities of the homebuying process.

SoFi Mortgages: simple, smart, and so affordable.

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FAQ

What is a mortgage payment?

A mortgage payment is the amount you pay your mortgage servicer each month. Typically, it includes money toward your loan principal and interest, and it may include property taxes and homeowners insurance as well. If they’re relevant, it can sometimes cover private mortgage insurance (PMI) and/or homeowners association (HOA) fees as well.

How does my credit score affect my mortgage loan interest rate?

Your credit score has a significant influence on the mortgage interest rate you’re likely to be offered by lenders. Higher scores lead to more competitive interest rates, while lower scores may result in higher rates.

What are principal and interest on a mortgage loan?

Principal is the amount you borrow for your mortgage, and interest is the amount you pay for being able to borrow it.

How much should I put down on a mortgage?

Paying 20% or more of the home value with your down payment can eliminate the need for private mortgage insurance (PMI) and lower the amount of your monthly payments. However, for a conventional loan, you may be able to put as little as 3% down.

Learn more about mortgages:

SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.

SOHL-Q325-091

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Oct

2025

test mod 2

By Wesley Yu | Uncategorized | Comments Off

Previous

IPO Offerings

Product Offerings

Brand Partnerships

IPO Offerings

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Pattern Group Inc

$300m
September 2025

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Company name: Pattern Group Inc.

Ticker: $PTRN

Sector: Commercial Services

About

Pattern Group, Inc. accelerates brands on global ecommerce marketplaces by leveraging proprietary technology and AI. It acquires inventory from brand partners to sell to consumers through online marketplaces, utilizing vast data sets, sophisticated machine learning, and AI models. The company optimizes and automates all levers of ecommerce growth for global brands, enabling full control over advertising, content management, logistics and fulfillment, pricing, forecasting, and customer service. Pattern Group was founded by David Wright and Melanie Alder in 2013 and is headquartered in Lehi, UT.

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Company name: Pattern Group Inc.

Ticker: $PTRN

Sector: Commercial Services

About

Pattern Group, Inc. accelerates brands on global ecommerce marketplaces by leveraging proprietary technology and AI. It acquires inventory from brand partners to sell to consumers through online marketplaces, utilizing vast data sets, sophisticated machine learning, and AI models. The company optimizes and automates all levers of ecommerce growth for global brands, enabling full control over advertising, content management, logistics and fulfillment, pricing, forecasting, and customer service. Pattern Group was founded by David Wright and Melanie Alder in 2013 and is headquartered in Lehi, UT.

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StubHub Holdings

$800m
September 2025

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Company name: StubHub Holdings

Ticker: $STUB

Sector: Retail Trade

About

Stubhub Holdings, Inc. provides online ticket selling services. It also provides services for buyers and sellers of tickets for sports, concerts, theater, and other live entertainment events. The company was founded by Eric H. Baker in 2000 and is headquartered in New York, NY.

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Company name: StubHub Holdings

Ticker: $STUB

Sector: Retail Trade

About

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Via Transportation

$493m
September 2025

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Company name: Via Transportation

Ticker: $VIA

Sector: Electronic Technology

About

Via transportation, Inc. engages in the provision of public transportation systems. It offers its solutions to cities, transit agencies, transport operators, school districts, universities, and corporations. The company was founded by Daniel Ramot and Oren Shoval in 2012 and is headquartered in New York, NY.

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Company name: Via Transportation

Ticker: $VIA

Sector: Electronic Technology

About

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Gemini Space Station

$425m
September 2025

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Company name: Gemini Space Station

Ticker: $GEMI

Sector: Finance

About

Gemini Space Station, Inc. is a holding company, which offers a mobile and web based crypto asset exchange platform, proprietary wallet infrastructure and custody solutions, over-the-counter trading solutions tailored to institutions and professionals, a digital art auction platform, a proprietary United States dollar backed stablecoin, and a credit card product that offers crypto asset rewards on customer purchases. The company was founded by Tyler Winklevoss and Cameron Winklevoss on February 4, 2025 and is headquartered in New York, NY.

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Company name: Gemini Space Station

Ticker: $GEMI

Sector: Finance

About

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Klarna

$1.3b
September 2025

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Company name: Klarna

Ticker: $KLAR

Sector: Finance

About

Klarna Group Plc operates as an investment holding company. It provides an e-commerce payment solutions for merchants and shoppers. The firm connect an array of different financial services and commerce organizations, from PSPs, traditional banks, card networks and open banking providers, to commerce enablers, technology partners, in-store payments providers and shipping and return logistics providers. The company was founded by Gustav Erik Niklas Adalberth, Karl Anders Victor Jacobsson, and Sebastian Marcin Siemiatkowski in 2005 and is headquartered in London, the United Kingdom.

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Company name: Klarna

Ticker: $KLAR

Sector: Finance

About

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Bullish

$1.1b
August 2025

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Company name: Bullish

Ticker: $BLSH

Sector: Finance

About

Bullish engages in the management of a digital asset platform. It also offers market infrastructure and information services. The company was founded by Brendan Francis Blumer in 2020 and is headquartered in George Town, Cayman Islands.

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Company name: Bullish

Ticker: $BLSH

Sector: Finance

About

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C1 Fund

$60m
August 2025

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Company name: Pattern Group Inc.

Ticker: $CFND

Sector: Finance

About

C1 Fund Inc. is a non-diversified, closed-end investment fund designed to provide public market investors with access to late-stage, private companies in the digital asset and technology sectors.

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Company name: Pattern Group Inc.

Ticker: $PTRN

Sector: Finance

About

C1 Fund Inc. is a non-diversified, closed-end investment fund designed to provide public market investors with access to late-stage, private companies in the digital asset and technology sectors.

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Figma

$1.2b

July 2025

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Company name: Figma

Ticker: $FIG

Sector: Technology

About

Figma, Inc. is an AI-powered design platform that enables seamless collaboration across the entire product development lifecycle. Its products include FigJam, Figma Slides, Figma Design, Figma Draw, Dev Mode, Figma Sites, Figma Buzz and Figma Make. The company was founded by Dylan Joseph Field and Evan Darrow Wallace in 2012 and is headquartered in San Francisco, CA.

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Company name: Figma

Ticker: $FIG

Sector: Technology

About

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MSC Income Fund

$85m
January 2025

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Company name: MSC Income Fund

Ticker: $MSIF

Sector: Finance

About

MSC Income Fund is an investment company that provides debt and equity financing solutions to private U.S. companies. The fund focuses on middle and lower middle market businesses, supporting management buyouts, recapitalizations, growth financing, and acquisitions. It operates as a business development company (BDC) and aims to generate income and capital appreciation for investors.

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Company name: MSC Income Fund

Ticker: $MSIF

Sector: Finance

About

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$748m
March 2024

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Company name: Reddit

Ticker: $RDDT

Sector: Communications

About

Reddit, Inc. operates an entertainment, social networking, and news website where registered community members can submit content. It provides online news services where users can select and rank web content. The firm also offers a personalized filter on the day’s story, using previous votes to determine what new things the user might like to read. The company was founded by Steven Ladd Huffman and Alexis Ohanian on June 23, 2005 and is headquartered in San Francisco, CA.

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Company name: Reddit

Ticker: $RDDT

Sector: Communications

About

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BrightSpring Health

$694m
January 2024

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Company name: BrightSpring Health Services

Ticker: $BTSG

Sector: Health Services

About

BrightSpring Health Services, Inc. engages in the provision of a platform of complementary health services delivering and pharmacy solutions for complex populations in home and community settings. It operates under the Pharmacy Solutions and Provider Services segments. The Pharmacy Solutions segment includes infusion and specialty pharmacy, and home and community pharmacy. The Provider Services segment is involved in home health care and community and rehab care. The company was founded in 1974 and is headquartered in Louisville, KY.

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Company name: BrightSpring Health Services

Ticker: $BTSG

Sector: Health Services

About

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Instacart

$660m
September 2023

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Company name: Instacart

Ticker: $CART

Sector: Retail Trade

About

Maplebear, Inc. engages in the design and development of an online application that offers grocery delivery and pick-up services. The firm offers Instacart which enables users to connect with personal shoppers in the area who pick up and deliver groceries from local stores. The company was founded by Apoorva Mehta, Brandon Leonardo, and Max Mullen in 2012 and is headquartered in San Francisco, CA.

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Company name: Instacart

Ticker: $CART

Sector: Retail Trade

About

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ARM Holdings

$5.6b
September 2023

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Company name: ARM Holdings

Ticker: $ARM

Sector: Electronic Technology

About

Arm Holdings Plc engages in the licensing, marketing, research, and development of microprocessors, systems IP, graphics processing units, physical IP and associated systems IP, software, and tools. It operates through the following geographical segments: United Kingdom, United States, and Other Countries. The company was founded on November 12, 1990 and is headquartered in Cambridge, the United Kingdom.

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Company name: ARM Holdings

Ticker: $PTRN

Sector: Commercial Services

About

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Oddity Tech

$425m
July 2023

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Company name: Oddity Tech

Ticker: $ODD

Sector: Consumer Non-Durables

About

Oddity Tech Ltd. engages in the online retail sale of cosmetics and beauty products. Its products include lipsticks, makeup brushes, mascara, eyelash curlers, and makeup brush cleansers. The company was founded by Oran Holtzman and Shiran Holtzman-Erel on March 23, 2013 and is headquartered in Tel Aviv, Israel.

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Company name: Oddity Tech

Ticker: $ODD

Sector: Consumer Non-Durables

About

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NU Holdings

$2.6b
December 2021

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Company name: NU Holdings

Ticker: $NU

Sector: Finance

About

Nu Holdings Ltd. is a holding company, which engages in the provision of digital banking services. The company was founded by David Vélez Osorno, Cristina Helena Zingaretti Junqueira, and Adam Edward Wible on February 26, 2016 and is headquartered in George Town, Cayman Islands.

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Company name: NU Holdings

Ticker: $NU

Sector: Finance

About

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Rivian Automotive

$11.8b
November 2021

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Company name: Rivian Automotive

Ticker: $RIVN

Sector: Consumer Durables

About

Rivian Automotive, Inc. engages in the design, development, and manufacture of category-defining electric vehicles and accessories. It operates through following segments: Automotive, Software and Services. The company was founded by Robert J. Scaringe in June 2009 and is headquartered in Irvine, CA.

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Company name: Rivian Automotive

Ticker: $RIVN

Sector: Consumer Durables

About

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Missouri Mortgage Calculator

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Mississippi Mortgage Calculator

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How to Use the Mississippi Mortgage Calculator

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Step 3: Choose a Loan Term

Step 4: Add an Interest Rate

Step 5: Add Your Property Tax

Benefits of Using a Mortgage Payment Calculator

Deciding How Much House You Can Afford

Components of a Mortgage Payment

Current mortgage rates by state.

Cost of Living in Mississippi

Tips on Reducing Your Mortgage Payment

Mississippi First-Time Homebuyer Assistance Programs

The Takeaway

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Maine Mortgage Calculator

Calculator Definitions

How to Use the Maine Mortgage Calculator

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Step 3: Choose a Loan Term

Step 4: Enter an interest rate

Step 5: Add your annual property tax

Benefits of Using a Mortgage Payment Calculator

Deciding How Much House You Can Afford

Current mortgage rates by state.

Components of a Mortgage Payment

Cost of Living in Maine

Tips on Reducing Your Mortgage Payment

Maine First-Time Homebuyer Assistance Programs

The Takeaway

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What is a mortgage payment?

How does my credit score affect my mortgage loan interest rate?

What are principal and interest on a mortgage loan?

How much should I put down on a mortgage?

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