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2026-09-14T00:00:00|6.968|0.023|6.274|0.035|6.725|-0.009|6.623|0.032||

Mortgage Calculator: Estimate Your Monthly Payment

Estimate principal, interest, taxes, insurance, HOA fees, and PMI. Adjust the values to instantly update your projected monthly payment.

Mortgage Calculator

Purchase price
Cash paid upfront
Loan duration
Annual rate
Optional
For estimation only
Monthly tax
Monthly insurance
Optional
Often needed under 20% down
Estimated monthly payment
$0.00
Principal & Interest$0.00
Property Tax$0.00
Homeowner's Insurance$0.00
HOA Fees$0.00
PMI$0.00
Amortization Schedule

Mortgage Payment Breakdown

Your monthly mortgage payment may include more than principal and interest.

Principal Loan

The amount borrowed from the lender, excluding interest.

Interest

The lender's cost for providing the loan, based on the annual rate.

Homeowner's Insurance

Insurance that may protect your home and personal property.

Property Taxes

Local taxes commonly included in monthly escrow payments.

Mortgage Insurance

May apply when the down payment is below the lender's threshold.

HOA Fees

Monthly association dues, when applicable.

How to Use Our Mortgage Calculator

  • Home Price: Enter the purchase price.
  • Down Payment: Enter cash paid upfront.
  • Loan Term: Choose 15 or 30 years.
  • Interest Rate: Use your expected mortgage rate.
  • Taxes and Insurance: Enter monthly estimates.
  • HOA and PMI: Add them when applicable.

The Underlying Formula

M = P × [ r(1+r)ⁿ / ((1+r)ⁿ − 1) ]

The Benefits of Using a Mortgage Calculator

A calculator helps you compare homes, loan terms, down payments, and rates before speaking with a lender. Results are estimates and should not be treated as a loan offer.

More Calculators

Official Government Resources

CFPB — Owning a Home
Consumer Financial Protection Bureau guide to buying a home, comparing loan offers, and understanding closing.
HUD — Buying a Home
Department of Housing & Urban Development resources for homebuyers, including FHA program information.
VA — Home Loans
Official VA home loan program information, eligibility, and Certificate of Eligibility requests.
Freddie Mac — Rate Survey
Weekly Primary Mortgage Market Survey, a benchmark for national average mortgage rates.
FHFA — Loan Limits
Federal Housing Finance Agency conforming loan limits by county, updated annually.
IRS — Mortgage Interest Deduction
IRS guidance on deducting home mortgage interest, points, and eligible mortgage-related expenses.

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