Mortgage Calculator
Estimate what you will actually pay each month—not just principal and interest, but room to include taxes, insurance, and HOA so the number matches how lenders think about “housing payment.”
Quick answer
Enter home price, down payment, interest rate, and loan term. You get a payment breakdown you can tune for taxes, insurance, and HOA before you compare listings.
For a related estimate, see 20 Percent Down Calculator.
Explore further: Biweekly Mortgage Calculator · Closing Cost Calculator
How to use this calculator
- Lock the loan basics: Set purchase price, down payment, APR, and term (15 vs 30 years is the most common comparison).
- Add the costs that sit outside the note: Property tax and homeowners insurance often escrow with your payment—include them to avoid a “too low” monthly estimate.
- Stress-test rate and price: Bump the rate 0.25–0.50% or drop the price 5% to see how fast your payment moves.
What drives your monthly number
Principal and interest follow your loan amount, rate, and term. Taxes, insurance, and HOA (if any) sit on top as recurring housing costs. Changing one input shifts the total—rates move the P&I curve fastest; taxes and HOA change the “all-in” payment even when the loan is fixed.
Explore further: Debt To Income Calculator · Down Payment Calculator
Real-world example
- Example: $380,000 home, 20% down, 6.75% fixed, 30 years: Loan amount $304,000 → principal & interest roughly $1,970/mo before taxes and insurance. Add $350 taxes + $110 insurance → about $2,430/mo all-in (illustrative).
Explore further: Home Affordability With Taxes · Home Loan Calculator
What this means
If all-in payment is under ~28% of gross, you are in the band many buyers use as “comfortable housing load.” If you are above ~32–33% on gross before other debts, you are on the high side for flexibility—taxes and insurance are usually why, not a math bug.
FAQ
What is included in “monthly mortgage payment”?
Usually P&I at minimum. Many homeowners also pay property tax and insurance monthly via escrow—this page is built to model that fuller picture.
Does a bigger down payment always lower my payment?
Almost always for P&I (smaller loan). It can also remove PMI when you reach 20% equity on conventional loans—verify with your lender.
Is this an official loan estimate?
No. It is an educational model. Lenders issue formal estimates after underwriting; use this to ballpark payments and compare scenarios.
Why does my lender’s payment differ?
Escrow timing, PMI rules, local tax assessments, and rounding can differ. Align inputs with your Loan Estimate line items when comparing.