Mortgage Calculator
Estimate your monthly mortgage payment.
About the Mortgage Calculator
Work out your monthly mortgage payment free with this mortgage calculator. Enter the home price, down payment, interest rate, and term to see your estimated principal-and-interest payment, loan amount, and total paid over the life of the loan. Compare 15- vs 30-year terms or different down payments to find an affordable home loan.
How to use the Mortgage Calculator
- 1Enter the home price and down payment.
- 2Add the interest rate and term.
- 3See your estimated monthly payment (principal & interest).
Frequently asked questions
Does this include property tax and insurance?
No — it estimates principal and interest only. Your actual payment will also include taxes, insurance, and possibly PMI.
What term should I use?
30 years is most common in the US; a shorter term (e.g. 15 years) means higher payments but far less total interest.
How much house can I afford?
A common guideline is keeping housing costs under 28% of gross monthly income. Work backwards: try prices in the calculator until the payment fits that budget.