Mortgage Calculator
Estimate a monthly mortgage payment including principal, interest, property tax, insurance and HOA fees.
Input Details
Additional Yearly Costs & Fees
Your Results
What Mortgage Calculator does
The number that matters when buying a home is not the loan payment but the total monthly cost, and principal and interest are only part of it. Property tax, buildings insurance and any association fee are paid every month alongside the loan.
This calculator applies the standard amortisation formula to the loan, then adds the recurring costs so you can see the whole figure rather than the smallest one.
- Home price and down payment, as an amount or a percentage
- Loan term and interest rate
- Annual property tax rate, home insurance and monthly HOA fees
- Monthly breakdown, total interest and payoff year
How to use Mortgage Calculator
- 1
Enter the price and down payment
The loan amount is the difference. A larger deposit reduces both the payment and the total interest.
- 2
Enter the rate and term
Use the annual rate the lender quotes. A shorter term raises the monthly payment and cuts the total interest sharply.
- 3
Add the recurring costs
Property tax rate, annual insurance and any association fee. These are often what pushes an affordable loan into an unaffordable month.
- 4
Compare scenarios
Change one input at a time to see what it is worth: a lower rate, a bigger deposit, a shorter term.
When to use it
Working out a realistic budget
Start from what you can pay monthly and work backwards to a price rather than the other way round.
Comparing two offers
See what a rate difference is actually worth over the full term.
Testing a larger deposit
Compare the monthly saving against having the cash available for anything else.
Limits and known behaviour
- Private mortgage insurance is not calculated. In the United States, a down payment under 20% usually triggers PMI, which can add a meaningful monthly amount that this estimate does not include.
- Property tax is estimated from the purchase price. Real assessments are based on the assessed value, which is often different and is revised over time.
- Closing costs, origination fees, points and escrow requirements are not included.
- The rate is assumed fixed for the whole term. Adjustable and tracker mortgages are not modelled.
- Extra payments and overpayments are not modelled.
- Amounts are calculated and displayed in US dollars using US lending conventions. The arithmetic is currency-independent, so the results hold for another currency if you read the symbol as your own.
- Figures are estimates for comparison and planning. They are not financial advice, not a quote, and not an offer of credit.
Privacy and data handling
Runs entirely in your browser
- Every figure you enter stays in this page. What you type about your finances is not transmitted, logged or stored anywhere.
- There is no account, no saved history and no autosave: reloading the page clears the form.
Site-wide data handling, including analytics and advertising, is described in the privacy policy.
Frequently asked questions
Why is my lender's figure higher?
Most often mortgage insurance if the deposit is under 20%, and escrowed taxes and insurance calculated on the assessed value rather than the price. Fees rolled into the payment and different rounding conventions account for the rest.
Should I choose a 15-year or a 30-year term?
A 15-year term has a much higher monthly payment and dramatically lower total interest. The right answer depends on whether the higher payment is comfortable in a bad month, not only whether it is affordable in a good one.
How much difference does the interest rate make?
Enter both rates and compare the totals. On a long mortgage, a difference of half a percentage point typically changes the total interest by tens of thousands.