Mortgage Calculator
Estimate monthly mortgage payments from home price, down payment, rate, and loan term.
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About this calculator
A mortgage payment is usually quoted as principal and interest. Many lenders also collect property tax, homeowners insurance, and HOA dues in the same monthly amount. This calculator shows both the loan payment and an estimated total housing payment.
How to calculate
Enter the home price, down payment, annual interest rate, and term in years. Add yearly tax, yearly insurance, and monthly HOA if you want those included. The loan amount is price minus down payment.
Loan = Price − Down payment
M = P × r(1 + r)ⁿ / ((1 + r)ⁿ − 1)
Housing payment = M + tax/12 + insurance/12 + HOA
Examples
$400,000 home, $80,000 down, 6.5% for 30 years
The loan is $320,000. Principal and interest are about $2,022.62 per month before tax and insurance.
FAQ
Is PMI included?
No. Private mortgage insurance is often required when the down payment is under 20%. Add it yourself if your lender charges it.
How is this different from the loan calculator?
The loan calculator starts from a known loan amount. This one starts from a purchase price and down payment, and can fold in tax, insurance, and HOA.