Mortgage Calculator
Estimate monthly mortgage payments, total interest, and total cost for a home loan with optional down payment.
Home & loan details
Amount you pay upfront.
Add property tax, insurance, or HOA to estimate full payment.
This calculator uses a standard fixed‑rate mortgage formula for principal and interest. It is a planning tool only and does not replace lender quotes or professional advice.
Results
Actual lender offers may include additional fees, different compounding rules, or rate adjustments. Always compare with an official loan estimate.
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Frequently Asked Questions
Does this mortgage calculator include taxes and insurance?
By default it focuses on principal and interest. You can optionally add an estimate for taxes and insurance to see a closer total payment.
Can I use this for refinancing scenarios?
Yes. Enter your remaining balance as the loan amount along with your new interest rate and term to estimate refinance payments.
Understanding Your Mortgage Payments
A typical mortgage payment is made up of principal (paying down the amount you borrowed) and interest (what you pay the lender for the loan). Many homeowners also pay property taxes and insurance each month, either directly or through their lender.
This mortgage calculator focuses on fixed‑rate mortgages with regular monthly payments, which are common for home buyers. It's a quick way to explore options before getting a formal quote.
Example: 30‑Year Fixed Mortgage
For a $400,000 home with an $80,000 down payment (loan amount $320,000) at 6.5% over 30 years, your principal & interest payment lands in the mid‑$2,000s per month. Taxes, insurance, and HOA fees will increase the total.
Tips Before You Commit
What to check
- • Whether your rate is fixed or can change over time
- • Any lender fees, closing costs, or prepayment penalties
- • How much your budget can comfortably handle month to month
What this tool doesn't cover
- • Adjustable‑rate (ARM) scenarios
- • Stamp duty, legal fees, or other one‑off costs
- • Tax deductions or local incentives
Always review exact figures with your lender or broker. This calculator is for rough planning only and does not constitute financial or mortgage advice.