Estimate Your Monthly Mortgage Payment
This mortgage calculator estimates what you would pay each month for a home loan, including principal, interest, property tax and home insurance. Enter the home price, your down payment, the interest rate and the loan term to see a clear monthly figure, plus the total interest you would pay over the life of the loan. Everything is calculated in your browser, so nothing you type is uploaded or stored.
How a mortgage payment is built
A typical monthly payment has several parts, often called PITI: principal, interest, taxes and insurance. Principal is the portion that pays down what you borrowed. Interest is the cost of borrowing, highest at the start of the loan and shrinking over time. Property tax and home insurance are usually collected monthly and held in an escrow account by your lender.
How the math works
Your loan amount is the home price minus your down payment. The calculator applies the standard amortization formula using your annual interest rate divided across twelve monthly payments and the number of months in your term. A larger down payment lowers the loan amount and the monthly payment, while a longer term lowers the monthly payment but increases the total interest you pay.
Tips to lower what you pay
- Increase your down payment to borrow less and often avoid private mortgage insurance.
- Shop for a lower rate — even a small rate difference changes the total by thousands.
- Consider a shorter term if you can afford the higher monthly payment, since it cuts total interest sharply.
- Make extra principal payments to shorten the loan and save on interest.
Estimates only — not financial advice. Real payments depend on your lender, loan type, credit, private mortgage insurance, HOA fees and local tax rates. Use this as a planning guide and confirm figures with a qualified lender.