Mortgage Calculator
Enter the home price, down payment, interest rate, and loan term, and this calculator estimates your monthly mortgage payment, the total interest you'll pay, and the overall cost — with optional property tax, home insurance, and HOA fees. It runs entirely in your browser: free, instant, and no sign-up.
Estimated monthly payment
$2,022.62 / month
- Principal & interest
- $2,022.62 / mo
- Total interest
- $408,142.36
- Total of 360 payments
- $728,142.36
Frequently asked questions
The principal-and-interest portion uses the amortization formula M = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount (home price minus down payment), r is the monthly rate (annual ÷ 12 ÷ 100), and n is the number of monthly payments. Property tax, insurance, and HOA are added on top. This tool does it instantly.
A 20% down payment is a common benchmark because it usually avoids private mortgage insurance (PMI), but many loans allow less. A larger down payment lowers both your monthly payment and the total interest you pay over the life of the loan.
Yes — you can add annual property tax, annual home insurance, and monthly HOA fees, and they're folded into the monthly estimate. Leave them blank to see just principal and interest.
It's a close estimate using a fixed rate and the standard amortization formula. Your real payment can differ with PMI, escrow changes, points, a variable rate, or lender fees, so treat it as a guide rather than a quote.
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