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Mortgage Calculator

Calculate your monthly mortgage payment including principal, interest, property tax, and home insurance.

Loan Details
Enter your mortgage information

About Mortgage Calculator

A mortgage calculator helps you estimate your monthly mortgage payment. It takes into account the home price, down payment, loan term, interest rate, property taxes, and home insurance to give you an accurate picture of your housing costs.

How to Use

  1. Enter the total price of the home you want to purchase
  2. Input your down payment amount (typically 10–20% of home price)
  3. Select your loan term (usually 15 or 30 years)
  4. Enter the annual interest rate offered by your lender
  5. Optionally add annual property tax and home insurance costs
  6. Click calculate to see your estimated monthly payment

Understanding your monthly payment helps you budget effectively and determine what home price you can afford. Remember that your actual payment may vary based on additional factors like HOA fees or mortgage insurance.

Related Articles

Learn more about the math and strategy behind these numbers

How Much House Can You Actually Afford?
Learn the 28/36 rule and other guidelines for setting a realistic home budget
Refinancing Your Mortgage: When It Makes Sense
Understand break-even points, closing costs, and when refinancing pays off
Understanding Compound Interest: The Most Powerful Force in Finance
See how interest compounds over time and why it matters for long loans

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Take this calculation further

Browse the financial calculators collection for more tools in this subject.

For a related calculation, use Loan Calculator to determine monthly payments and total interest for personal loans, student loans, and more. Alternatively, use Rent vs. Buy Calculator to compare the true long-term cost of renting versus buying a home with break-even analysis.

For the underlying method, read How to Calculate a Mortgage Payment: Principal, Interest, and the Real Monthly Cost or How to Read an Amortization Schedule and Save Interest with Extra Principal.