Finance
Mortgage Calculator
Estimate your monthly mortgage payment from price, down payment, rate and term.
Mortgage Calculator
Principal & interest only. Property tax, insurance and HOA are extra.
How to use the mortgage calculator
Enter the home price, how much you'll put down, the annual interest rate and the loan term. The calculator shows your estimated monthly payment plus the total interest you'll pay over the life of the loan.
What affects your payment?
- A larger down payment lowers the loan amount — and the monthly payment.
- A longer term means a lower monthly payment but more total interest.
- A higher interest rate raises both the monthly payment and total interest.
Frequently asked questions
How is the monthly mortgage payment calculated?
It uses the standard amortization formula on your loan amount (home price minus down payment) at the annual interest rate over the term.
Does it include taxes and insurance?
No. It shows principal and interest only. Property tax, home insurance and HOA fees are separate monthly costs.
What down payment should I make?
Many loans allow 3–20%. Putting down at least 20% often avoids mortgage insurance and lowers your payment.
Is a shorter or longer term better?
A 15-year term costs more per month but far less interest overall; a 30-year term is more affordable monthly but costs more in interest.