Mortgage Calculator

How to estimate a mortgage payment

1. Enter the home price and your down payment, as an amount or a percentage.
2. Enter the interest rate and choose the term.
3. Add the yearly property tax and insurance, and any monthly HOA fees, to see the full monthly cost.

Frequently asked questions

What is included in the monthly payment?

Principal and interest on the loan, plus one twelfth of the yearly property tax and insurance, plus HOA fees. Lenders often collect tax and insurance with the payment through an escrow account.

What about PMI?

In the United States, a conventional loan with less than 20% down usually needs private mortgage insurance, often around 0.3% to 1.5% of the loan a year. It is not included here; add it to the insurance amount if it applies.

15 or 30 years?

A 15-year mortgage has a higher monthly payment but a lower rate and far less interest overall. Change the term to compare the two.