Estimate your monthly mortgage payment.
Enter your home price, down payment, interest rate and loan term to estimate your monthly mortgage payment. You can also include property taxes, homeowners insurance, HOA fees and mortgage insurance for a more complete monthly estimate.
Mortgage details
Adjust the values below to explore different mortgage scenarios.
Monthly payment breakdown
Estimated annual loan schedule
See how the estimated balance, principal and interest change over the life of the mortgage.
| Year | Beginning Balance | Principal Paid | Interest Paid | Ending Balance |
|---|
What is included in the monthly estimate?
The calculator begins with principal and interest based on the loan amount, interest rate and term you enter.
If you enter property taxes, homeowners insurance, HOA fees or mortgage insurance, those amounts are added to the estimated monthly payment.
Why might a lender's payment be different?
Actual mortgage payments can vary because of lender calculations, escrow requirements, changing taxes or insurance, mortgage insurance rules, fees and other loan-specific factors.
Use this calculator as an educational estimate and review official lender disclosures before making a borrowing decision.
Common questions
How is the mortgage payment calculated?
Principal and interest are estimated using the standard amortizing loan payment formula based on the loan amount, periodic interest rate and number of payments.
Does this calculator include property taxes and insurance?
Yes. If you enter annual property taxes and homeowners insurance, the calculator converts them to monthly amounts and adds them to the estimated payment.
Does a larger down payment lower the payment?
A larger down payment reduces the amount borrowed, which generally lowers the principal-and-interest payment when the interest rate and loan term remain the same.
Is this an official loan estimate?
No. LoanMathWorks provides educational estimates and is not a lender or broker. Actual rates, payments, fees and loan terms may differ.
LoanMathWorks provides calculators and educational information for general informational purposes only. Results are estimates and are not financial, lending, tax or legal advice. LoanMathWorks is not a lender or broker. Actual rates, payments, fees and qualification requirements may vary.