Mortgage Calculator

Use this free mortgage calculator to estimate monthly principal and interest, total interest, loan-to-value, and optional property tax, insurance, PMI, and HOA costs.

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Formula steps Estimate limits shown Examples included Private history

Home price ($)Down payment ($)Interest rate (%)Loan term (years)Property tax per year ($)Insurance per month ($)PMI per month ($)HOA per month ($)

Estimated monthly payment$2,637.62

$400,000 home, $320,000 loan at 6.5%

Principal and interest: $2,022.62
Total interest: $408,142.36
Loan-to-value: 80%
Taxes and insurance: $540.00

This estimate is not a lender Loan Estimate and does not include closing costs or escrow changes.

Formula steps

Loan amount = $400,000 - $80,000 = $320,000.
Calculate monthly principal and interest with the fixed-payment formula.
Divide annual property tax by 12.
Add monthly tax, insurance, PMI, and HOA to principal and interest.

How to use the mortgage calculator

Enter the requested dollar amounts, rates, terms, tax settings, or contribution details.
Use rates as percentages, such as 6.5 for 6.5%, and check whether a field asks for a monthly or annual amount.
Press the calculate button to see the answer, supporting metrics, and formula steps.
Use the result as a planning estimate only, then copy it if the assumptions look right.

Common uses

Estimate monthly mortgage principal and interest from home price, down payment, rate, and term.

Add common monthly ownership costs such as property tax, insurance, PMI, and HOA dues.

Compare how down payment or rate changes affect monthly payment and total interest.

Check loan-to-value before discussing PMI or lending options.

Examples

Starter estimate $400,000 home, $80,000 down, 6.5%, 30 years

Monthly P&I plus optional escrow-style costs

Lower rate check $320,000 loan, 5.9%, 30 years

Compare payment and total interest

15-year comparison $320,000 loan, 6.1%, 15 years

Higher payment, lower total interest

Frequently asked questions

Quick answers about formulas, rates, payment assumptions, estimate limits, examples, and private in-browser history.

What can I use the Mortgage Calculator for?

Use it for quick planning, comparison, and what-if estimates before you check exact numbers with a lender, tax professional, payroll provider, or financial adviser.

How does the Mortgage Calculator calculate the result?

The calculator uses the fixed-payment loan formula for principal and interest, then adds monthly property tax, insurance, PMI, and HOA amounts you enter.

Is this financial, tax, or legal advice?

This is a planning estimate, not a loan estimate. It does not include lender underwriting, closing costs, escrow changes, local tax rules, mortgage insurance rules, or adjustable-rate terms.

Are my finance inputs private?

Yes. The calculator runs in your browser tab. Recent answers stay only on the page while you use it and are not sent to a server.