Mortgage Payment Calculator
Calculate your monthly mortgage payment, including principal, interest, property taxes, and insurance. See a breakdown of your payment components and estimate the total cost of your loan.
Mortgage Payment Calculator
Calculate your monthly mortgage payments and see a complete breakdown of costs.
Loan Details
Additional Costs
Monthly Payment Breakdown
How to Use This Calculator
This calculator helps you make informed financial decisions by providing accurate estimates based on the information you provide. Follow these steps:
Enter Your Details
Fill in all required fields with your financial information.
Adjust Parameters
Use sliders and toggles to customize scenarios and assumptions.
View Results
Get instant calculations that update as you change inputs.
Compare Options
Try different scenarios to find the best financial solution.
How to Use This Calculator
- Enter the home price you're considering
- Specify your down payment amount or percentage
- Input the loan term in years
- Enter the interest rate you qualify for
- Adjust property tax and insurance costs if known
- View your estimated monthly payment and payment breakdown
Understanding Your Results
Your mortgage payment consists of several components:
- Principal and Interest: The amount that goes toward paying off your loan
- Property Taxes: Annual taxes divided into monthly payments
- Homeowner's Insurance: Annual premium divided into monthly payments
- PMI (Private Mortgage Insurance): Required if your down payment is less than 20%
The calculator also shows you the total amount you'll pay over the life of the loan and how much of that will be interest. This can help you understand the true cost of your mortgage and make informed decisions about loan terms and down payment amounts.