Mortgage Calculator

Estimate your monthly mortgage payment including principal, interest, taxes, and insurance. Adjust loan amount, interest rate, and term to see how each factor affects your payment.

How the mortgage calculator Works

This tool uses the following formulas to compute results:

  • Monthly payment: M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]
  • P = loan principal, r = monthly interest rate, n = number of payments
  • Total interest = (Monthly payment × n) − P

About Mortgage Calculator

Estimate your monthly mortgage payment including principal, interest, taxes, and insurance. Adjust loan amount, interest rate, and term to see how each factor affects your payment.

Use the inputs above to calculate your result instantly. Results update automatically as you type. All calculations happen in your browser, so your data is never sent to a server.

Frequently Asked Questions

What is included in a mortgage payment?

A typical mortgage payment (PITI) includes Principal, Interest, Taxes, and Insurance. PMI may also be required if your down payment is below 20%.

How does the interest rate affect my payment?

Higher rates increase monthly payments and total interest paid. Even a 1% rate change can significantly impact cost over a 30-year loan.

Should I choose a 15 or 30 year mortgage?

A 15-year mortgage has higher monthly payments but much lower total interest. A 30-year mortgage offers lower payments but costs more over time.

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