Mortgage Calculator
Estimate your monthly mortgage payment, principal and interest, property taxes, homeowners insurance, HOA fees, total interest, and approximate loan payoff over time.
Estimate Your Mortgage
Purchase details
Loan terms
Enter the interest rate you want to evaluate. This calculator does not retrieve current lender or market rates.
Monthly housing costs
Your mortgage estimate will appear here
Enter the purchase and loan details, then select Calculate Mortgage.
How Is a Mortgage Payment Calculated?
A standard fixed-rate mortgage payment is based on the loan amount, interest rate, and loan term. The principal-and-interest portion stays mathematically consistent under a fixed-rate amortizing loan, while other housing costs such as taxes, insurance, association fees, and mortgage insurance may change independently.
This calculator separates those components so you can see the difference between the loan payment itself and the broader monthly housing cost.
Loan Amount
Home Price − Down Payment
Monthly Rate
Annual Rate ÷ 12
Monthly P&I
P × r(1+r)ⁿ ÷ ((1+r)ⁿ − 1)
Total Housing Payment
P&I + Tax + Insurance + HOA + PMI
Principal vs. Interest
Principal is the amount borrowed. Interest is the cost charged for borrowing that money. Early in a typical amortizing mortgage, a larger share of each principal-and-interest payment may go toward interest. Over time, more of the scheduled payment generally goes toward principal.
Costs Beyond Principal and Interest
Property taxes vary by location and can change over time. Enter your own annual estimate.
Insurance premiums vary by property, coverage, insurer, location, and other factors.
Some properties have association or community fees that are separate from the mortgage itself.
Some loans may require mortgage insurance depending on the loan structure and down payment.
Why Total Interest Can Be Much Larger on Longer Loans
Extending a loan over more years can reduce the required monthly principal-and-interest payment, but it can also mean paying interest for a longer period. Interest rate, loan balance, payment schedule, and extra principal payments all affect the final amount paid.
The calculator’s amortization summary assumes scheduled monthly payments and does not automatically model refinancing, late fees, rate changes, extra payments, or loan modifications.
Mortgage Calculator Questions
Does this calculator use current mortgage rates?
No. It does not connect to lenders, banks, financial markets, or rate APIs. You enter the interest rate you want to evaluate.
Are property taxes and insurance included?
They can be included using the annual tax and insurance fields. The calculator converts those annual amounts to monthly estimates.
Does the result include closing costs?
No. Appraisal fees, lender fees, legal fees, title costs, taxes at closing, prepaid items, points, and other transaction costs are not included.
Can I use the monthly payment as a lender quote?
No. It is a mathematical planning estimate and does not represent a loan offer, pre-approval, lending decision, or guaranteed payment.
Does the calculator include adjustable-rate mortgages?
No. This version assumes a fixed interest rate for the entire loan term. Adjustable-rate products require additional assumptions about future rate changes.