A mortgage calculator helps you estimate your monthly home loan payment based on your home price, down payment, interest rate, and loan term. This calculator can also include common monthly housing costs like property tax, home insurance, PMI, HOA fees, and other recurring costs — so you can see a more realistic “total monthly payment”.
Use it to compare different loan terms (10/15/20/25/30 years), down payment options, and extra payments — and to view an amortization schedule (monthly or yearly) plus a printable PDF report.
The calculator first finds your loan amount: Home Price − Down Payment = Loan Amount. Then it estimates the monthly principal & interest payment using standard amortization math (fixed-rate mortgage formula).
If you enable Include Taxes & Costs, it adds estimated monthly amounts for property tax, insurance, PMI, HOA, and other costs to show your full estimated monthly housing payment.
Many people focus only on “principal & interest”, but real monthly costs can be higher. This calculator can show a full breakdown:
You can enter down payment as either a dollar amount or a percentage. The calculator auto-syncs both fields. A larger down payment reduces your loan amount, lowers your monthly payment, and can reduce or eliminate PMI.
A longer term usually means a lower monthly payment, but higher total interest over the life of the loan. A shorter term increases monthly payment but often saves significant interest and can sometimes come with a lower interest rate.
Small changes in interest rate can significantly affect your monthly payment and total interest. Use the calculator to compare scenarios before choosing a lender or deciding to refinance.
Turning on Include Taxes & Costs helps you estimate a realistic monthly housing payment (not just the loan payment). You can enter taxes/insurance either as a percent (%) or a dollar amount ($), depending on what you know.
PMI may apply when down payment is under 20%. This tool can estimate PMI to help you see the impact on monthly cost. Actual PMI depends on credit score, lender rules, and loan type.
Taxes, insurance, HOA, and other costs can rise over time. If you use the “More Options” section, you can model increases for better long-term estimates.
Note: Your lender may collect escrow and adjust it yearly based on actual bills.
Extra payments typically reduce principal faster, which can reduce total interest and move your payoff date earlier. This calculator supports:
The amortization schedule shows how your balance decreases over time and how each payment is split between interest and principal. Use:
The schedule in this tool is an estimate and can differ slightly from lender schedules due to rounding, escrow, or payment posting rules.
This calculator uses the standard fixed-rate amortization formula. Your monthly principal and interest payment is based on the loan amount, interest rate, and loan term. Taxes, insurance, PMI, HOA, and other costs are then added (if enabled) to estimate your total monthly payment.
Priya is buying a home and wants to compare monthly affordability vs long-term interest savings. She tries two options in the calculator:
After seeing the monthly breakdown (P&I + taxes + insurance + PMI), she chooses the plan that fits her cash flow — and adds a small extra monthly payment to reduce interest without refinancing.
Example scenario for education only. Always verify with your lender.
Principal & Interest is the loan payment only. Total monthly payment can include property tax, insurance, PMI, HOA, and other costs — which gives a more realistic monthly housing estimate.
Differences can happen due to rounding, escrow changes, HOA billing timing, PMI rules, and lender-specific payment posting methods.
Often, yes — but it depends on loan type and lender. Some programs structure insurance differently. Use this calculator for estimates, then confirm with your lender.
Extra payments generally reduce principal faster, which reduces interest over time and can move your payoff date earlier. Always ensure the lender applies extra as “principal only”.
Shorter terms usually save interest but increase monthly payment. Use this calculator to compare total cost vs monthly affordability.
This calculator focuses on monthly payment and loan costs. Closing costs vary by lender and location and are usually paid upfront or rolled into the loan (if allowed).
This mortgage calculator is for educational and informational purposes only and does not provide financial, legal, tax, or investment advice. Results are estimates and may differ from your lender’s actual payment schedule due to fees, escrow adjustments, rounding, and loan-specific terms. Always confirm details with your lender or a qualified professional.