Mortgage Calculator
Estimate your monthly mortgage payment including principal, interest, property tax, insurance, and HOA.
Our Mortgage Calculator helps you estimate a realistic monthly housing payment. Here's how to use it:
Step 1: Enter the home price.
Step 2: Enter your down payment.
Step 3: Enter the mortgage interest rate and loan term in years.
Step 4: Add annual property tax, annual home insurance, and any monthly HOA fee.
Step 5: Click 'Calculate' to see your total monthly payment, principal and interest, loan amount, total interest, and a year-by-year amortization summary.
Monthly principal and interest are calculated using the standard amortization formula:
M = P × r × (1+r)^n / [(1+r)^n - 1]
Where: - P = Loan amount after down payment - r = Monthly interest rate (annual rate / 12 / 100) - n = Total number of monthly payments
Full monthly housing payment is then: Total Monthly Payment = Principal & Interest + Property Tax/12 + Home Insurance/12 + HOA
Total Interest = (Monthly Principal & Interest × n) - Loan Amount
A mortgage calculator is one of the most useful tools for homebuyers because it turns a purchase price into a monthly budget reality. The number that matters most is rarely just the loan payment by itself. For real planning, you usually need the full monthly housing cost: principal, interest, property tax, homeowners insurance, and HOA if applicable.
This calculator focuses on that complete monthly payment view while still showing the loan amount, down payment percentage, total interest paid, and how the mortgage balance declines over time. That makes it useful both for affordability checks and for comparing different home prices, down payments, and interest rates.
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