Mortgage Calculator

Estimate your monthly mortgage payment.

Enter your numbers and press Calculate.

About the Mortgage Calculator

This calculator computes the monthly principal-and-interest payment on a mortgage using the standard amortization formula: the loan amount, the monthly interest rate, and the total number of payments. It can also show total interest paid over the full term.

The real monthly cost is usually higher once property taxes, homeowners insurance, and any mortgage insurance or HOA dues are added. Those are often collected together in an escrow account.

How this works

Monthly P&I = P·r/(1 − (1+r)⁻ⁿ); total = P&I + tax/12 + insurance/12.

Assumptions

Principal and interest use a fixed rate.
Property tax and insurance are flat annual estimates and may change.
Does not include HOA fees or mortgage insurance (PMI).

Frequently asked questions

Why is so much of an early payment interest?

Interest is charged on the outstanding balance, which is largest at the start. As the balance falls, each payment shifts toward principal.

How much does the term matter?

A 15-year loan has higher monthly payments than a 30-year loan of the same amount but far less total interest, because the balance is repaid faster.

Does the calculator include taxes and insurance?

It focuses on principal and interest. Add estimates for taxes, insurance, and dues separately for a full monthly figure.

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This calculator provides estimates for educational purposes only and is not personalized financial advice. Rates, taxes, and financial products change — verify with providers and qualified professionals.