MORTGAGE CALCULATOR
Calculate Your Mortgage Payment
Estimate your monthly mortgage payment, total interest, total cost, and loan balance with our free mortgage calculator.
Mortgage Details
Enter your loan details below to estimate your monthly principal and interest payment.
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Your Estimate
Your estimated mortgage costs will appear here after entering your loan information.
Estimated Monthly Payment
$0
Principal, interest, taxes, insurance & HOA
Loan Amount
$0
Principal & Interest
$0
Total Interest
$0
Total Payments
$0
Property Tax / Month
$0
Insurance / Month
$0
Annual Amortization Summary
This summary shows how your loan balance and payments change over the selected loan term.
| Year | Principal | Interest | Total Paid | Remaining Balance |
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Mortgage Calculator
A mortgage calculator helps estimate the monthly cost of borrowing money to purchase a home. The calculation can include the loan amount, interest rate, loan term, property taxes, homeowners insurance, and other recurring costs.
How Mortgage Payments Are Calculated
The principal and interest portion of a fixed-rate mortgage payment is calculated using the loan amount, monthly interest rate, and total number of monthly payments.
M = P × [r(1 + r)ⁿ] ÷ [(1 + r)ⁿ − 1]
In this formula, M represents the monthly principal and interest payment, P represents the loan principal, r is the monthly interest rate, and n is the total number of monthly payments.
What Is Included in the Estimate?
- Loan principal and interest
- Estimated annual property taxes
- Estimated homeowners insurance
- Monthly HOA fees, when provided
Factors That Can Affect Your Mortgage Cost
Your actual mortgage payment and borrowing costs can depend on factors such as the interest rate offered by the lender, loan type, credit history, down payment, property taxes, insurance, fees, mortgage insurance, and other loan terms.
Mortgage Calculator Limitations
This calculator provides an estimate based on the information entered by the user. It does not include every possible mortgage cost, fee, tax, insurance requirement, or lender charge.
Disclaimer:
This mortgage calculator is provided for general informational
and educational purposes only. The results are estimates and
are not a loan offer, quote, financial recommendation, or
guarantee of actual mortgage terms. Actual payments and costs
may vary depending on your lender, loan terms, taxes, insurance,
fees, property, and other factors. Consult a qualified mortgage
professional or financial adviser for personalized guidance.