Mortgage Calculator
Estimate your full monthly payment — principal, interest, taxes and insurance.
Estimated monthly payment
$0.00
Loan amount$0
Principal & interest$0
Property tax (monthly)$0
Insurance (monthly)$0
Total interest over full term$0
Formula: P × r(1+r)ⁿ / ((1+r)ⁿ − 1), where P = loan amount, r = monthly rate, n = number of payments.
How this calculator works
Your monthly payment has up to four parts, often called PITI: principal (paying back the loan), interest (the lender's charge), property taxes and insurance. The calculator above applies the standard amortization formula to the loan amount — the home price minus your down payment — then adds your estimated monthly tax and insurance costs.
Two quick levers that save the most
- Term length. A 15-year loan usually carries a lower rate and can cut total interest by more than half compared with 30 years, at the cost of a higher monthly payment.
- Down payment. Putting 20% down removes PMI, which typically costs 0.5%–1.5% of the loan per year.
For a deeper dive, read our guide: How mortgage rates are set — and how to get a lower one.