Connecticut Mortgage Calculator
Estimate your monthly mortgage payment in Connecticut with state-specific property tax, insurance, and homestead data pre-loaded. Median home value in Connecticut is $400,000 with an effective property tax rate of 2.14%.
Mortgage Calculator
Estimate your monthly payment including taxes, insurance, and PMI.
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| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
Year 1 | $24,271.44 | $3,576.76 | $20,694.68 | $316,423.24 |
| 1 | $2,022.62 | $289.29 | $1,733.33 | $319,710.71 |
| 2 | $2,022.62 | $290.85 | $1,731.77 | $319,419.86 |
| 3 | $2,022.62 | $292.43 | $1,730.19 | $319,127.43 |
| 4 | $2,022.62 | $294.01 | $1,728.61 | $318,833.42 |
| 5 | $2,022.62 | $295.61 | $1,727.01 | $318,537.81 |
| 6 | $2,022.62 | $297.21 | $1,725.41 | $318,240.60 |
| 7 | $2,022.62 | $298.82 | $1,723.80 | $317,941.78 |
| 8 | $2,022.62 | $300.44 | $1,722.18 | $317,641.34 |
| 9 | $2,022.62 | $302.06 | $1,720.56 | $317,339.28 |
| 10 | $2,022.62 | $303.70 | $1,718.92 | $317,035.58 |
| 11 | $2,022.62 | $305.34 | $1,717.28 | $316,730.24 |
| 12 | $2,022.62 | $307.00 | $1,715.62 | $316,423.24 |
Year 2 | $24,271.44 | $3,816.28 | $20,455.16 | $312,606.96 |
Year 3 | $24,271.44 | $4,071.88 | $20,199.56 | $308,535.08 |
Year 4 | $24,271.44 | $4,344.57 | $19,926.87 | $304,190.51 |
Year 5 | $24,271.44 | $4,635.54 | $19,635.90 | $299,554.97 |
What is a Mortgage Calculator?
A mortgage calculator helps you estimate your total monthly housing payment, including principal, interest, property taxes, home insurance, and private mortgage insurance (PMI). This gives you a complete picture of what homeownership will cost each month.
Unlike a simple loan calculator, a mortgage calculator accounts for additional costs that come with buying a home. Property taxes and insurance are typically required by lenders to be included in your monthly payment through an escrow account.
All calculations happen in your browser. No financial data is sent to any server, so your information stays completely private.
Connecticut Housing Snapshot
| Median Home Value | $400,000 |
| Effective Property Tax Rate | 2.14% |
| Estimated Annual Property Tax | $8,560 |
| State Income Tax | Up to 6.99% |
| Homestead Exemption | $250,000 in bankruptcy; no general property tax homestead exemption |
| Avg Homeowners Insurance | $1,505/yr |
| Transfer & Recording Taxes | Real estate conveyance tax 0.75% base, plus 0.25% local; mansion tax 1.25% over $2.5M |
What Makes Buying in Connecticut Different
Connecticut has the third-highest effective property tax rate in the US at 2.14%, behind only New Jersey and Illinois. On a median $400,000 home, the annual property tax bill exceeds $8,500, and Fairfield County towns like Greenwich, Darien, and New Canaan see five-figure or six-figure property tax bills routinely. State income tax tops out at 6.99%, which combined with high property tax creates one of the highest combined state-and-local tax burdens in the nation. The state's geography is bimodal: Fairfield County functions as part of the New York City commuter shed with home prices to match, while the rest of the state (Hartford, New Haven, Eastern Connecticut) is far more affordable. Connecticut's mansion tax adds 1.25% on sales over $2.5 million, on top of the standard conveyance tax of 0.75% to 1%. Homeowners insurance is reasonable at $1,505 per year, lower than coastal states given limited hurricane exposure beyond the immediate Long Island Sound shoreline.
Top Cities in Connecticut
| City | Median Home Value |
|---|---|
| Bridgeport | $305,000 |
| New Haven | $295,000 |
| Stamford | $695,000 |
| Hartford | $215,000 |
| Greenwich | $2,150,000 |
Connecticut funds most local services through property tax with limited state aid, which combined with high property values produces the third-highest effective rate in the US at 2.14%. Mill rates vary dramatically by town: Hartford has a mill rate above 74 while Greenwich is under 12. The same dollar of home value produces very different tax bills depending on the municipality.
Yes. Connecticut charges a real estate conveyance tax of 0.75% on the first $800,000 of sale price, 1.25% from $800,001 to $2.5 million, and an additional 1.25% mansion tax surcharge on amounts over $2.5 million. Municipal portions add another 0.25% to 0.5%. The seller traditionally pays but it can be negotiated.
Connecticut's top marginal rate is 6.99%, lower than New York's 10.9% plus NYC local tax but higher than Massachusetts's 9% on income over $1 million (flat 5% otherwise). For high earners commuting from Fairfield County to New York City, there is a reciprocal tax credit arrangement that prevents double taxation.
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Mortgage Calculator
Estimate monthly mortgage payments including taxes, insurance, and PMI.