Mortgage Calculator
Estimate your monthly mortgage payment, total interest, and full amortization breakdown from your loan amount, rate, and term.
+ Add property tax, insurance & HOA (optional)
Estimated monthly payment
$2,505.95
$2,022.62 principal & interest + $483.33 taxes, insurance & fees
$320,000.00
Loan amount
$408,142.36
Total interest
$728,142.36
Total of payments
How the Mortgage Calculator works
Enter the home price, down payment, interest rate, and loan term. The calculator uses the standard amortization formula to find your monthly principal & interest payment, then optionally adds property tax, insurance, and HOA fees for a full monthly payment estimate.
Frequently asked questions
What's included in the monthly payment estimate?
By default, principal and interest. Expand "Add property tax, insurance & HOA" to include an estimated full monthly payment (PITI).
How does the down payment affect my payment?
A larger down payment reduces your loan amount, which lowers both your monthly payment and the total interest paid over the life of the loan.
Should I choose a 15-year or 30-year mortgage?
A 15-year loan has a higher monthly payment but far less total interest. A 30-year loan is more affordable monthly but costs more overall — try both terms to compare.