Finance calculator

Mortgage Calculator

Free Mortgage calculator. Estimate monthly mortgage payments from the home price, down payment, interest rate, taxes, and insurance.

Last updated August 24, 2026

Finance calculator

Mortgage Calculator

Estimate monthly mortgage payments from the home price, down payment, interest rate, taxes, and insurance.

How this calculator works

This calculator estimates monthly housing payments including principal, interest, property tax, and insurance. Enter the home price, down payment, annual interest rate, loan term, property tax, and insurance to see the monthly PITI-style payment. Use it when comparing homes, checking affordability, or planning a budget before applying for a mortgage. The key inputs are home price, down payment, interest rate, loan term in years, annual property tax, and annual insurance. The output is the estimated monthly payment broken into principal, interest, tax, and insurance. Real-world applications include home buying, refinancing comparisons, and long-term budget planning. The calculator applies the standard monthly amortization formula to the loan amount, then adds monthly tax and insurance estimates. It does not include PMI, HOA fees, or closing costs. Use lender quotes for final decisions.

Methodology

The calculator subtracts the down payment from the home price, applies the standard monthly amortization formula to the principal and interest, then adds monthly property tax and insurance estimates.

Examples

  • Estimate a monthly PITI-style payment before comparing homes.
  • Compare how a larger down payment changes the principal and interest portion.
  • Check how annual tax and insurance estimates affect the monthly housing number.

Common questions

Does this mortgage estimate include PMI or HOA fees?

No. This tool estimates principal and interest plus annual property tax and homeowners insurance. PMI, HOA dues, flood insurance, and closing costs can change the real payment, so use lender quotes for final decisions.

Why is my payment higher than the principal and interest estimate?

Mortgage payments often include escrow items. Property taxes and insurance are annual costs divided by 12, so they can add hundreds of dollars per month even when the loan payment looks affordable.

Is a 30-year term always better than a 15-year term?

A 30-year term lowers each payment but usually costs much more interest over time. A 15-year term costs more each month but can save substantially if you can afford it comfortably.