Mortgage Calculator
Estimate monthly mortgage payments with principal, interest, taxes, and insurance breakdown.
More options (tax, insurance, PMI)
Result
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Enter your home price, down payment, and interest rate, then click Calculate.
P is the loan amount (home price minus down payment), r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments (term in years × 12). Taxes, insurance, and PMI are added to the principal-and-interest payment.
Loan amount equals home price minus down payment. A larger down payment reduces PMI and monthly cost.
Use your quoted annual rate. Shorter terms (15 years) raise monthly payments but cut total interest.
Property tax and insurance are annual amounts divided by 12. PMI applies when down payment is below 20%.
See how each payment splits between principal and interest over the life of the loan.
$350,000 home, $70,000 down (20%), 6.5% rate, 30-year term, $4,200/year taxes, $1,200/year insurance.
Estimated total monthly payment ≈ $2,219 (no PMI at 20% down).
Using list price without accounting for taxes and insurance
Fix: Always review the full PITI (principal, interest, taxes, insurance) total.
Assuming PMI lasts the entire loan
Fix: PMI can often be removed once equity reaches 20%; confirm with your lender.
Ignoring closing costs in affordability math
Fix: Budget 2–5% of purchase price for closing costs in addition to down payment.
Estimate monthly mortgage payments with principal, interest, taxes, and insurance breakdown.
More options (tax, insurance, PMI)
Result
—
Enter your home price, down payment, and interest rate, then click Calculate.