Mortgage Calculator
Estimate your monthly mortgage payment, loan amount, and total interest based on your home price, down payment, interest rate, and loan term. You can also include estimated property taxes, homeowners insurance, and HOA fees for a more complete estimate of your monthly housing costs.
How the Mortgage Calculator Works
The Mortgage Calculator estimates your monthly mortgage payment based on your home price, down payment, interest rate, and loan term. It calculates the amount you need to borrow, your monthly principal and interest payment, and the total interest you would pay over the selected loan period.
You can also enter estimated annual property taxes, homeowners insurance, and monthly homeowners association (HOA) fees. These expenses are added to your estimated monthly payment to give you a more complete picture of your potential housing costs.
The calculator also estimates the total principal and interest paid over the life of the loan, along with the additional costs entered. Actual mortgage payments and ownership expenses may vary depending on your lender, loan terms, property, taxes, insurance, and other fees.
How to Use the Mortgage Calculator
- Enter the home price and the down payment you plan to make. The calculator uses these amounts to determine your estimated loan amount.
- Enter the annual interest rate and select your loan term, from 10 to 40 years.
- Optionally, enter your estimated annual property taxes, annual homeowners insurance, and monthly HOA fees. Select Calculate Mortgage to view your estimated monthly payment, total interest, and total costs over the loan term.
For a more accurate estimate, use the interest rate and expense amounts that best reflect your situation. If you leave optional expenses at zero, they will not be included in the results.