Mortgage Calculator
Estimate mortgage borrowing, monthly housing cost, and total interest with home price, down payment, tax, and insurance inputs.
Start with home price and down payment, then add rate, taxes, and insurance for a more realistic monthly estimate.
$320,000.00
$2,022.62
$2,572.62
$408,142.36
About the mortgage calculator
How this calculator works
Mortgage decisions are easier when the monthly payment is shown alongside the actual loan amount and the broader housing-cost estimate.
This page keeps home price, down payment, rate, term, tax, and insurance together so the result is more practical than a bare principal-and-interest figure alone.
Where it is useful
It is useful for early home-buying research, lender comparison, and quick budget checks before moving to a full amortization schedule.
The calculator stays intentionally lightweight while still covering the core monthly cost inputs many people want to see together.
- Estimate housing cost before making an offer or speaking with a lender.
- Compare how down payment size changes the loan amount and payment.
- Include tax and insurance when sketching a monthly home budget.
Example calculations
3 examples$400,000 home with $80,000 down at 6.5% for 30 years
$2,022.62 principal and interest
Add $4,800 tax and $1,800 insurance
$2,572.62 estimated monthly housing cost
Lower down payment
Higher monthly payment and total interest
larger loan amount
Common uses
3 ideas- Estimate housing cost before making an offer or speaking with a lender.
- Compare how down payment size changes the loan amount and payment.
- Include tax and insurance when sketching a monthly home budget.
FAQ
3 answersHow does the mortgage calculator estimate monthly payment?
The calculator first estimates the loan amount from home price minus down payment, then applies a fixed-rate mortgage payment formula.
Does the mortgage calculator include taxes and insurance?
Yes. The page adds annual property tax and annual insurance into the estimated monthly housing cost so the result is closer to what homeowners budget for.
Why must the down payment be less than the home price?
The down payment must be smaller than the home price. Otherwise there is no mortgage balance left to finance.