Mortgage Calculator

Estimate a fixed-rate mortgage payment with principal, interest, taxes, insurance, HOA dues, and optional PMI.

Purchase price before closing costs, such as 425,000 or 1.2M.

Enter a dollar amount or a percent of the home price.

Use the nominal annual rate as a percent, not a decimal.

Common fixed-rate terms are 15, 20, or 30 years.

Optional yearly tax estimate added to the monthly total.

Optional yearly homeowner insurance estimate.

Optional monthly association or condominium dues.

Optional percent of the loan amount per year. Applied only when the down payment is below 20%.

Optional. Used to label an approximate final payment month.

Use 0 to 4 decimal places for displayed currency values.

Breakdown

Enter a home price, down payment, interest rate, and term to estimate the mortgage payment.

Calculator

How it works

This calculator estimates a fixed-rate mortgage where principal and interest are paid on a monthly schedule. Enter the home price, down payment, annual interest rate, and loan term to calculate the loan amount and monthly principal-and-interest payment.

The principal-and-interest portion uses the standard amortization relationship between loan amount, monthly interest rate, and number of payments. A zero-interest loan is divided evenly across the term.

Payment = loan amount × r × (1 + r)n ÷ ((1 + r)n − 1)

Optional taxes, insurance, HOA dues, and PMI are added to the monthly total so you can compare the mortgage payment with common ownership costs. PMI is included only when the down payment is below 20% and a PMI rate is provided.

Question

Assumptions and limitations

Use this for early home-buying scenarios and payment comparisons. It does not model adjustable rates, buydowns, closing costs, escrow account rules, changing tax assessments, lender rounding, PMI cancellation timing, refinance costs, or loan disclosures.

Results are estimates for planning and are not financial, tax, legal, real-estate, or lending advice. Compare the estimate with quotes from qualified lenders and local tax or insurance information before making decisions.

All calculations happen locally in your browser. Your home price, down payment, rate, and dates are not sent to a server.

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