Mortgage Calculator

Estimate your monthly mortgage payment, total interest, and total cost over the life of the loan. Enter the home price, down payment, interest rate, and term to see a full breakdown.

Home Price ($)

Down Payment ($)

Interest Rate (% APR)

Loan Term (years)

Monthly Tax + Insurance ($) — optional

$2,069.79

Estimated Monthly Payment (P&I + Tax/Insurance)

Principal & interest: $1,769.79

$280,000.00

Loan Amount

$357,124.57

Total Interest

$637,124.57

Total Paid (P&I)

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Your feedback helps us improve Mortgage Calculator.

Why use Mortgage Calculator?

This calculator estimates a fixed-rate mortgage payment using the standard amortization formula, based on the loan amount (home price minus down payment), interest rate, and term. It separates the principal & interest portion from an optional tax/insurance estimate, since those vary by location and aren't part of the loan itself.

Key benefits

Standard fixed-rate amortization math
Separates principal & interest from tax/insurance estimate
Shows total interest paid over the full loan term

Features

15/20/30-year term options
Down payment and loan amount breakdown
Optional monthly tax/insurance addition

Popular use cases

Estimating affordability before house-hunting
Comparing monthly payments across different down payment amounts
Understanding total interest cost over a 30-year vs. 15-year term

How to use Mortgage Calculator

1
Enter the home price and down payment
Enter the purchase price and how much you'll put down.
2
Enter the rate and term
Enter the interest rate and loan term (15, 20, or 30 years).
3
Add tax and insurance (optional)
Include a monthly estimate for property tax and homeowners insurance for a fuller monthly total.

Frequently asked questions

Does this include property tax and PMI?

You can add an estimated monthly tax and insurance amount manually; PMI (private mortgage insurance, often required with less than 20% down) is not automatically calculated and should be added to that field if applicable.

How is the monthly payment calculated?

Using the standard fixed-rate amortization formula, based on the loan amount (home price minus down payment), interest rate, and term.

Is this a loan offer or pre-approval?

No — this is an estimate for planning purposes only. Actual rates and terms depend on your lender and credit profile.

Last reviewed: July 2026

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