CALCULATOR · FREE免费 · Free
Mortgage Payment Calculator
A mortgage payment is more than principal and interest. Price minus down payment is the loan; rate and term set P&I; property tax, insurance and HOA add on top. Enter them to see the full monthly cost and lifetime interest.
--Loan amount · $
--Monthly P&I · $
--Tax / mo · $
--Insurance / mo · $
--Total / mo · $
--Total interest · $
--Total paid · $
Estimates only; verify on site before ordering or building.
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Example
| Item | Value | Unit |
|---|---|---|
| Home price | 400000 | $ |
| Down payment | 80000 | $ |
| Rate | 6 | % |
| Term | 30 | years |
| Property tax / yr | 1.25 | % |
| Insurance / yr | 1800 | $ |
| HOA / mo | 0 | $ |
| Loan amount | 320000 | $ |
| Monthly P&I | 1918.56 | $ |
| Tax / mo | 416.67 | $ |
| Insurance / mo | 150 | $ |
| Total / mo | 2485.23 | $ |
| Total interest | 370682.2 | $ |
| Total paid | 690682.2 | $ |
Where people go wrong
- Using the home price instead of the loan amount.
- Using the annual rate as the monthly rate.
- Forgetting taxes, insurance and HOA.
FAQ
Does the payment include taxes and insurance?
They are shown separately here; lenders often escrow them, so the actual payment is higher.
How much difference does 15 vs 30 years make?
A 15-year loan has a higher payment but less total interest; change the term in the same calculator to compare.
Should I calculate the down payment percentage?
Down payment divided by price is the percentage; below 20 percent may add PMI, which this tool does not include.