Mortgage Calculator
Estimate your monthly mortgage payment and view the full amortization schedule.
Enter your numbers and select Calculate to see results.
About This Calculator
This mortgage calculator estimates your total monthly payment on a fixed-rate home loan, including principal and interest (P&I), and optionally property taxes, homeowners insurance, and HOA dues. Enter your home price, down payment, interest rate, and loan term to see a monthly breakdown and a year-by-year amortization schedule showing how your balance declines over time.
How This Is Calculated
M = P [ i(1+i)^n ] / [ (1+i)^n − 1 ]
- M
- — Monthly principal & interest payment
- P
- — Loan principal (home price minus down payment)
- i
- — Monthly interest rate (annual rate ÷ 12)
- n
- — Total number of monthly payments (years × 12)
A $320,000 loan at 6.5% for 30 years (360 payments) has a monthly rate of 0.5417%, producing a principal & interest payment of about $2,022.
Assumptions
- Uses a fixed interest rate for the full loan term.
- Property tax and insurance are estimates you provide; actual bills vary by county and provider.
- Does not include private mortgage insurance (PMI), which typically applies when the down payment is below 20%.
- Does not include one-time closing costs.
Frequently Asked Questions
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Last updated January 15, 2026. Results are estimates for informational purposes only — read our disclaimer.