How the mortgage calculator works
Your loan amount is the home price minus your down payment. The calculator uses the standard amortization formula to find the monthly principal and interest, then adds your estimated property tax and home insurance to show a realistic total monthly payment. It also shows how much interest you'll pay over the life of the loan.
Lower your monthly payment
A bigger down payment, a lower interest rate, or a longer term all reduce the monthly payment — though a longer term means more total interest. Shopping around for the best rate can save tens of thousands over 30 years.
Frequently asked questions
Does this include property tax and insurance?
Yes. Enter your annual property tax rate and yearly insurance, and they're included in the monthly figure.
What about PMI or HOA fees?
Those aren't separated here. You can fold them into the insurance field for a rough estimate.
Is my data saved?
No. Everything runs in your browser.