Mortgage payment calculator
Make room for the whole picture. Estimate your monthly payment, then explore how your down payment, rate, and loan term change the numbers.
Make it your own
Change the numbers to explore your scenario.
20.0% of home price
Example inputs are illustrative and are not a rate quote.
Estimated monthly payment
$2,700.44 to the nearest cent
- Principal & interest
- $2,275.44
- Property tax
- $300.00
- Home insurance
- $125.00
Your balance over time
- Loan amount
- $360,000
- Total interest
- $459,160
- Time to pay off
- 30 yr
Estimates assume a fixed interest rate, monthly payments, and unchanging taxes and insurance. Mortgage insurance is included only if you enter it. Lender rounding, payment dates, fees, and loan terms can change your actual costs. This is a planning estimate, not a loan offer.
Build your monthly picture
Start with a home price and down payment. Enter an interest rate and loan term, then add estimates for property taxes, homeowners insurance, HOA dues, and mortgage insurance when applicable. The total includes every cost you enter, even if you pay it separately from your mortgage.
How the estimate works
For a fixed-rate loan, the monthly principal and interest payment is calculated using:
M = P × r / (1 − (1 + r)−n)P is the starting balance, r is the annual interest rate divided by 12 (as a decimal), and n is the number of monthly payments. At 0% interest, the payment is the balance divided by the number of months.
Assumptions to keep in mind
Taxes, insurance, HOA dues, and mortgage insurance stay constant in this estimate. We do not calculate closing costs or automatically estimate mortgage insurance. Enter your own estimates or amounts from your Loan Estimate.
Calculations retain full precision internally; displayed amounts and CSV values are rounded to cents. Your servicer’s rounding and payment timing can produce small differences.
CFPB: Understanding your total monthly paymentGood questions to ask
What does the monthly estimate include?
The main result combines principal and interest with the taxes, insurance, HOA dues, and mortgage insurance you enter. The breakdown shows those parts separately. The amortization schedule covers only principal and interest.
Why can my actual payment change?
This tool assumes a fixed interest rate. Even with a fixed rate, property taxes and insurance costs may change. An adjustable-rate, interest-only, or other nonstandard loan needs a different calculation.
Does this calculator tell me how much I can borrow?
No. It calculates payments from your inputs. It does not assess income, credit, debts, loan eligibility, or a lender’s approval criteria.