Mortgage Calculator
Estimate principal-and-interest mortgage payments plus optional estimated monthly tax and insurance.
FREE ONLINE CALCULATOR
Mortgage Calculator
Change the settings below to calculate your result. You can check the assumptions further down this page.
Principal and interest uses standard amortization; monthly housing payment adds annual tax and insurance divided by twelve.
How to use this mortgage calculator
Enter property price, down payment, rate and term. Include optional yearly property tax and home insurance for a broader monthly estimate.
Formula and calculation method
Principal and interest uses standard amortization; monthly housing payment adds annual tax and insurance divided by twelve.
Worked example
A bigger down payment usually lowers the financed balance and monthly principal-and-interest payment.
Understanding the result
A mortgage payment quote often includes more than principal and interest. Property tax and home insurance can meaningfully increase the monthly housing amount, so the tool provides optional fields for those recurring costs.
When to use this calculator
Remember that maintenance, homeowners association charges and mortgage insurance may be additional. When comparing houses, consider the whole ongoing housing budget and not only the repayment tied to the loan.
What the results do not include
Does not account for HOA dues, mortgage insurance, closing costs, changing tax bills or adjustable rates.
Frequently asked questions
Does the calculation include property tax?
Yes, if you enter a nonzero yearly property tax amount.
Is the monthly figure the complete housing cost?
No. Maintenance, utilities and fees may add to it.
For education and estimates only. Check any contractual, tax, banking or employment terms that apply to your situation. The calculations are not financial advice or guaranteed returns.