Mortgage Calculator
Work out what a home will really cost each month. Enter the price, your down payment and the interest rate, and add property tax, insurance and HOA fees for a complete monthly payment.
Free · No sign-up · Files stay on your device
How to use Mortgage Calculator
- 1Enter the home price and down payment.
- 2Enter the interest rate and loan term.
- 3Optionally add taxes, insurance and fees to see the full monthly cost.
Features
- Down payment as amount or percent
- Property tax, insurance, PMI and HOA
- Payment breakdown
- Total interest and payoff date
- Year-by-year balance
What makes up a mortgage payment
Most monthly payments include four parts, often called PITI: principal (paying back the loan), interest, property taxes and home insurance. If you put down less than 20% you may also pay private mortgage insurance (PMI) until you reach 20% equity.
Frequently asked questions
How much down payment do I need?
Many lenders accept 3–10%, but putting down 20% avoids PMI and lowers your payment.
Is a 15-year or 30-year mortgage better?
A 15-year loan has higher payments but saves a large amount of interest. A 30-year loan has lower payments and more flexibility.
Is this the same as a loan EMI?
The principal and interest part uses the same formula. For other loans, use our EMI calculator.