About the Mortgage Calculator
This mortgage calculator estimates principal and interest plus common monthly ownership costs such as property tax, insurance, PMI, and HOA fees.
How to Use It
Enter the home price, down payment, interest rate, and loan term. Add optional taxes, insurance, PMI, or HOA fees to estimate a fuller monthly payment.
Principal & Interest vs Total Payment
Principal and interest are only the loan payment. The total monthly payment may be higher when taxes, insurance, mortgage insurance, or association fees are included.
Down Payment
You can enter the down payment as a percentage or a dollar amount. The calculator subtracts it from the home price to estimate the mortgage loan amount.
Worked Example
For a $400,000 home with a 20% down payment, the estimated loan amount is $320,000. The principal-and-interest payment is then calculated from that loan amount, the stated rate, and the selected term; tax, insurance, PMI, and HOA costs are added separately.
Limitations
This estimate does not include closing costs, adjustable rates, lender fees, local escrow rules, or refinance scenarios. Use it for planning, not as a loan offer.
Method, Limits, and Source
The calculation assumes a fixed interest rate and the inputs shown on this page. Actual mortgage costs can change with the loan product, rate lock, property taxes, insurance, closing costs, and escrow rules. Compare official Loan Estimates from lenders; the CFPB Loan Estimate explainer shows which terms to verify.