Estimate your monthly mortgage payment, including principal and interest, property taxes, homeowners insurance, HOA dues, and the total long-term cost of your home loan.
Enter your mortgage details and click Calculate to estimate your monthly payment and long-term loan cost.
This mortgage calculator estimates your home loan payment based on home price, down payment, interest rate, and loan term. It also adds common housing costs such as property taxes, homeowners insurance, and HOA dues to show a fuller monthly housing estimate.
If you enter an extra monthly payment, the calculator estimates how much faster you could pay off your mortgage and how much interest may be saved over time.
Principal and interest are calculated using the standard amortizing loan formula:
M = P × [r(1 + r)n] / [(1 + r)n - 1]
Where:
Total monthly payment is then estimated by adding monthly property taxes, monthly insurance, and monthly HOA fees.
Your real monthly housing cost may be much higher once taxes, insurance, and HOA fees are included.
Putting more down lowers the loan amount, which can reduce monthly payment and total interest over time.
Shorter mortgages usually have higher monthly payments but much lower total interest compared with longer terms.
Even modest extra monthly payments toward principal may shorten the loan and lower total interest.
A mortgage payment usually includes principal and interest. In many cases, taxes and homeowners insurance are also collected through escrow, and some properties may also have HOA dues.
The right down payment depends on your finances, loan type, and goals. A larger down payment generally reduces the amount borrowed and can lower monthly costs.
No. This version does not include private mortgage insurance. If needed, PMI can be added later as another monthly field.
Yes. In most standard mortgages, extra principal payments reduce the balance faster, which can lower total interest and shorten the loan term.