Mortgage Calculator
See what a home will really cost each month. Beyond principal and interest, add property tax, insurance, mortgage insurance and association fees for the full picture.
- Runs in your browser
- No sign-up
- Free to use
Monthly breakdown
Over the life of the loan
Yearly amortisation schedule
| Period | Paid | Principal | Interest | Balance |
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How to use Mortgage Calculator
- Enter the home price and your down payment, as an amount or a percentage.
- Enter the interest rate and choose the loan term.
- Add yearly property tax and home insurance, plus PMI and monthly HOA fees if they apply.
- Review the total monthly payment and its breakdown, and the interest paid over the life of the loan.
Mortgage Calculator features
Full monthly cost
Combines principal and interest with tax, insurance, PMI and HOA in one figure.
Down payment in either form
Type an amount or a percentage; the other updates automatically.
Automatic PMI handling
Mortgage insurance is included only when the down payment is under 20%, and the month it would end is shown.
Payment breakdown chart
See what share of the monthly payment goes to each cost.
Lifetime figures
Loan amount, total interest and the payoff date.
Yearly amortisation table
Principal, interest and balance for every year of the loan.
When to use Mortgage Calculator
- Working out how much house fits a monthly budget.
- Comparing a 15-year and a 30-year mortgage.
- Seeing how a larger down payment changes the payment and removes PMI.
- Checking a lender's quote against an independent calculation.
Mortgage Calculator FAQ
What is included in a monthly mortgage payment?
Principal and interest on the loan, and usually property tax and home insurance collected through an escrow account. Depending on your situation it may also include private mortgage insurance (PMI) and homeowners association (HOA) fees.
What is PMI and when do I pay it?
Private mortgage insurance protects the lender when the down payment on a conventional loan is below 20% of the home price. It typically costs 0.3%–1.5% of the loan amount per year and can be removed once your loan balance falls to about 80% of the home's value.
Is a 15-year or 30-year mortgage better?
A 15-year loan has higher monthly payments but a lower rate and far less total interest. A 30-year loan is easier on the monthly budget and costs much more over time. Enter both terms to compare the figures.
How accurate is the estimate?
Principal and interest are exact for a fixed-rate loan. Tax, insurance and PMI vary by location, property and lender, so use your own figures where you have them. Closing costs are not included.
Does it work for adjustable-rate mortgages?
It assumes the rate stays fixed. For an adjustable-rate mortgage the result applies only to the initial fixed period.
The parts of a mortgage payment
Lenders often describe the monthly payment as PITI: principal, interest, taxes and insurance. Principal and interest repay the loan itself and stay constant on a fixed-rate mortgage. Property tax and insurance are owed to the local authority and the insurer, but are commonly collected monthly by the lender and held in escrow, so they are part of what leaves your account each month and can rise over time.
The down payment influences the cost in three ways: it reduces the amount borrowed, it may qualify you for a better rate, and at 20% or more it avoids mortgage insurance altogether. Because interest is charged on the balance for decades, small differences compound. On a 30-year loan the total interest can approach or exceed the amount borrowed, which is why even a quarter-point difference in rate is worth negotiating.