How to use the mortgage calculator
- Enter the home price and your down payment.
- Add the interest rate, loan term, property tax, insurance and any HOA fees.
- See your total monthly payment, a cost breakdown and your payoff schedule.
About the Mortgage Calculator tool
Your mortgage payment is more than just the loan. Most homeowners also pay property tax and home insurance every month, and if your down payment is under 20% you'll usually pay private mortgage insurance (PMI) too. This calculator adds everything up so you can see what a home will really cost you each month.
100% free
No limits, no watermarks and no sign-up.
Private
Results are estimates for information only, not financial advice.
Fast
No uploading or waiting in a queue. Results in seconds.
Works everywhere
Windows, Mac, iPhone, Android and Chromebook.
Frequently asked questions
What is PMI?
Private mortgage insurance protects the lender if you stop paying. It's usually required when your down payment is less than 20%, and it can be removed once you owe less than 80% of the home's value.
How much should I put down?
20% avoids PMI, but many loans allow 3–5% down. A bigger down payment means a smaller loan and lower monthly payments.
Should I choose a 15-year or 30-year mortgage?
A 15-year mortgage has higher monthly payments but usually a lower rate and far less total interest. A 30-year mortgage keeps monthly payments lower.
Is this my exact payment?
It's an estimate. Taxes, insurance and rates vary by location and lender, so ask your lender for an official quote.