Online Mortgage Calculator
Estimate your monthly home loan payments.
Mortgage Calculator
Estimate your monthly home loan payments
How Does the Mortgage Calculator Work?
Buying a home is one of the biggest financial decisions you'll ever make. Our Online Mortgage Calculator helps you estimate your monthly mortgage payments with ease. It takes into account the home price, your down payment, the loan term (e.g., 15 or 30 years), the interest rate, and your estimated annual property taxes.
The standard mortgage amortization formula is used to calculate the principal and interest portion of your payment. We then add the monthly equivalent of your property taxes to give you a realistic "PITI" (Principal, Interest, Taxes, Insurance) estimate.
Frequently Asked Questions
Traditionally, a 20% down payment is recommended to avoid paying Private Mortgage Insurance (PMI). However, many loan programs allow you to put down as little as 3% to 5%.
The principal is the actual amount of money you borrowed to buy the home. The interest is the cost you pay to the lender for borrowing that money. Early in your loan, most of your payment goes toward interest, while later on, more goes toward the principal.
No, this calculator runs entirely on your device using JavaScript. None of your financial data is transmitted to our servers.