What is the Mortgage Calculator?
Estimate your full monthly mortgage payment including principal, interest, property tax and homeowners insurance. Money decisions are easier when you can see the numbers. Our finance calculators use the same standard formulas banks and financial planners use — amortization, compound interest and present-value math — so you can compare options before you commit.
How to use the Mortgage Calculator
- Enter your home price, your down payment, your interest rate, your loan term and the remaining fields.
- Results update automatically as you type; you can also press Calculate.
- Read the output: total monthly payment, principal & interest, loan amount, total interest over the loan.
- Use the 📊 chart to see the result visually, then copy or share it.
Formula and method
Worked example
With home price = $350,000, down payment = 20 %, interest rate = 6.5 %, loan term = 30 years, property tax per year = $4,200, the Mortgage Calculator returns total monthly payment: $2,244.79; principal & interest: $1,769.79; loan amount: $280,000.00.
Tips for better results
- Compare at least two scenarios (for example, a 15- vs 30-year term) before deciding.
- Small rate differences compound: a 0.5% lower rate can save thousands over a long loan.
- Results are estimates; your lender’s fees, taxes and exact day-count rules may change the final figure.
⚠️ These results are for educational purposes and are not financial advice. Confirm figures with your lender or a licensed financial professional before making decisions.
Frequently asked questions
What does the Mortgage Calculator do?
Estimate your full monthly mortgage payment including principal, interest, property tax and homeowners insurance.
How is it calculated?
The Mortgage Calculator uses this method: Loan = Price × (1 − Down%); P&I = Loan × r ÷ (1 − (1 + r)^−n); Monthly total = P&I + Tax/12 + Insurance/12.
Can you show an example?
With home price = $350,000, down payment = 20 %, interest rate = 6.5 %, loan term = 30 years, property tax per year = $4,200, the Mortgage Calculator returns total monthly payment: $2,244.79; principal & interest: $1,769.79; loan amount: $280,000.00.
Is the Mortgage Calculator accurate?
It uses standard published formulas and is tested against known values, but results are estimates for guidance. These results are for educational purposes and are not financial advice. Confirm figures with your lender or a licensed financial professional before making decisions.
Is this tool free and private?
Yes — the Mortgage Calculator is completely free with no sign-up, and it runs entirely in your browser, so the values you enter are never uploaded to our servers.
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