๐ Mortgage Calculator
Estimate your monthly mortgage payment โ principal, interest, taxes, insurance and HOA โ from your home price, down payment and rate.
About Mortgage Calculator
This calculator estimates the full monthly cost of owning a home, not just the loan payment. Enter the home price, your down payment, the interest rate, and the loan term, and it splits the result into principal & interest (P&I) plus the property tax, homeowners insurance, and HOA dues you add โ the same PITI breakdown lenders use. It's useful for comparing "what if" scenarios: a bigger down payment, a shorter term, or a different rate, before you talk to a lender.
The P&I portion uses the standard amortization formula: M = P ร [r(1+r)^n] / [(1+r)^n โ 1], where P is the loan amount (home price minus down payment), r is the monthly interest rate (annual rate รท 12), and n is the total number of monthly payments (years ร 12). This formula produces a level payment for the life of the loan โ the amount doesn't change, but the split between interest and principal within it does, shifting toward principal over time.
Treat the output as an estimate, not a quote. Lenders calculate PMI, exact escrow amounts, closing costs, and underwriting-adjusted rates using information this tool doesn't have, so your actual Loan Estimate or Closing Disclosure may differ. Property tax rates and insurance premiums vary by location and are only as accurate as the annual figures you enter.
Frequently asked questions
What's included in this estimate?
Principal & interest, property tax, home insurance, and any HOA fees you enter โ the same components typically shown in a lender's PITI estimate.
Does this account for PMI?
Not directly. If your down payment is under 20%, lenders typically require private mortgage insurance (PMI), which would add to your monthly payment.
Why does more of my payment go toward interest at the start?
Interest is charged on the remaining balance each month, and the balance is highest early in the loan. Since the total payment is fixed, a larger interest charge early on leaves a smaller principal portion โ the split gradually reverses as the balance shrinks.
How does the loan term affect total interest paid?
A shorter term (like 15 years vs. 30) raises the monthly payment but sharply cuts total interest, because the balance is paid down faster and has less time to accrue interest at each rate. A longer term lowers the monthly payment but roughly doubles or more the total interest over the life of the loan.
Is any of my financial information sent to a server?
No. The calculation happens entirely in your browser using JavaScript โ the numbers you enter never leave your device, and this site makes no network request to compute your result.