Mortgage Tools

Mortgage Calculator

Estimate your monthly mortgage payment — including principal, interest, taxes, insurance, and PMI — in seconds.

1
Enter home price
2
Set down payment
3
Choose loan type
4
Review your estimate

What is a Mortgage Calculator?

A mortgage calculator helps you estimate your monthly home loan payment based on the home price, down payment, interest rate, and loan term. It breaks your payment into principal & interest, property taxes, homeowners insurance, and PMI — so you see the real cost of homeownership before you commit.

Results are estimates for planning purposes only. Contact a lender for an official loan quote.

1Home Price

Enter the purchase price of the home. Use the slider or type directly in the field.

2Down Payment

Set your down payment as a % or dollar amount. Below 20% triggers PMI charges.

3Rate & Term

Choose your interest rate and loan term (15 or 30 years). Enable Advanced for more options.

4See Results

View your full monthly breakdown, donut chart, total cost over loan life, and amortization schedule.

Loan Details
Advanced Options
Home Price $400,000
$50K$2M
$
Down Payment $80,000 (20%)
0%100%
%
$
Loan Term
Interest Rate 7.00%
1%15%
%
Advanced Options
Property Tax (annual) $4,800
$0$30K
$
Home Insurance (annual) $1,200
$0$10K
$
HOA Fees (monthly) $0
$
PMI Rate (annual %) 0.80% ⓘ
%
Loan Type
Credit Score Range
Extra Monthly Payment $0 ⓘ
$
Start Date
Amortization Schedule

Year-by-year breakdown of principal, interest, and remaining balance.

Year Principal Interest Total Paid Balance
Show all years
Income Qualification Checker

Lenders typically require your total monthly debt obligations (including the mortgage) to be no more than 28–36% of your gross monthly income. Slide to enter your income and see if you qualify.

$1K$30K

Payment Breakdown

Estimated Monthly Payment
$2,847
Principal + Interest + Taxes + Insurance
$2,847 /month
Principal & Interest: $2,127
Property Tax: $400
Home Insurance: $100
PMI: $0
HOA: $0
Principal & Interest $2,127
Property Tax $400/mo
Home Insurance $100/mo
PMI (if <20% down) $0
HOA Fees $0
Loan Amount$320,000
Total Interest Paid$446,050
Total of All Payments$766,050
Est. Payoff DateJun 2055

*All figures are estimates. Actual payments depend on your lender, credit profile, and local tax rates. Consult a licensed mortgage professional for exact figures.

Mortgage FAQs

Common questions about home loans, payments, and the buying process.

Have more questions? Our mortgage specialists are ready to walk you through your options and help you find the right loan for your situation.

Speak to a Specialist
What is included in a mortgage payment?
A full mortgage payment (PITI) typically includes: Principal — reducing your loan balance; Interest — the cost of borrowing; Taxes — property taxes collected in escrow; and Insurance — homeowners insurance and PMI if your down payment is under 20%. HOA fees are additional if applicable.
What is PMI and how do I avoid it?
Private Mortgage Insurance (PMI) is required on conventional loans when your down payment is less than 20% of the home's purchase price. It protects the lender — not you. You can avoid PMI by putting 20% or more down, or by requesting cancellation once your loan-to-value ratio reaches 80%.
What's the difference between a fixed and adjustable rate?
A fixed-rate mortgage keeps the same interest rate for the entire loan term, giving you predictable payments. An adjustable-rate mortgage (ARM) has a fixed rate for an initial period (e.g., 5 or 7 years), then adjusts periodically based on market rates — which can go up or down.
How much home can I afford?
A common guideline is the 28/36 rule: your monthly housing costs should not exceed 28% of your gross monthly income, and total debt (housing + other loans) should not exceed 36%. Use the Income Qualification Checker above to see where you stand, and speak with a lender for a formal affordability assessment.
Should I choose a 15-year or 30-year mortgage?
A 30-year mortgage offers lower monthly payments and more cash flow flexibility, but you pay significantly more interest over time. A 15-year mortgage has higher monthly payments but you build equity faster and pay far less total interest — often saving six figures over the life of the loan.
What credit score do I need to get a mortgage?
For a conventional loan, most lenders require a minimum credit score of 620–640. FHA loans allow scores as low as 580 (with 3.5% down) or even 500 (with 10% down). VA and USDA loans often have no strict minimum but lenders typically prefer 620+. Higher scores generally mean better rates and lower costs.