What does this mortgage calculator include?

It estimates the principal and interest portion of your monthly payment. Property taxes, homeowners insurance, PMI, and HOA fees are not included, so your actual payment may be higher.

How is the monthly payment calculated?

It uses the standard amortization formula: payment = loan * r * (1+r)^n / ((1+r)^n - 1), where the loan equals home price minus down payment, r is the monthly rate (annual rate / 12), and n is the number of months (years * 12).

🏠

Mortgage Calculator

Estimate your monthly mortgage payment.

Loading tool…

How to use the Mortgage Calculator

1Enter the home price and your down payment.
2Add the annual interest rate and loan term in years.
3View your monthly payment, total interest, and total paid.

About the Mortgage Calculator

Free mortgage calculator to estimate monthly home loan payments, total interest, and total cost from home price, down payment, interest rate, and loan term.

Part of our Calculators collection. Browse all tools.

Frequently asked questions

What does this mortgage calculator include?: It estimates the principal and interest portion of your monthly payment. Property taxes, homeowners insurance, PMI, and HOA fees are not included, so your actual payment may be higher.
How is the monthly payment calculated?: It uses the standard amortization formula: payment = loan * r * (1+r)^n / ((1+r)^n - 1), where the loan equals home price minus down payment, r is the monthly rate (annual rate / 12), and n is the number of months (years * 12).