Mortgage Calculator

Five things you enter here: the loan amount (home price minus down payment), the interest rate, and the term set the principal-and-interest payment via the standard amortization formula. On top of that, most homeowners also pay property tax, homeowners insurance, and sometimes HOA dues and PMI — add those in the optional fields to see a fuller monthly picture.

Private mortgage insurance protects the lender (not you) when a conventional loan starts with less than 20% down. It typically costs roughly 0.5–1% of the loan amount per year, added to your monthly payment, and can usually be removed once you've built about 20% equity. Your actual PMI rate depends on your credit and lender — this tool lets you pick a rate in the typical range to estimate it, nothing more.

Because a lender prices the real you: your credit score, debt-to-income ratio, points and fees, the exact loan program, and your property's actual tax and insurance bills. This calculator only does the math on the numbers you type — it doesn't know today's rates and never guesses them. Treat your lender's official Loan Estimate as the real figure and this as a planning tool.

It's a trade-off, not a right answer. A 15-year term means a noticeably higher monthly payment but far less total interest and faster equity; a 30-year term means a lower, more flexible payment but much more interest over the life of the loan. Try both terms above and compare the 'total interest' figures — then decide with your lender or a financial advisor what fits your budget.

Completely free with no signup and no usage cap — the math runs entirely in your browser, so nothing you type is sent to us or stored. And to be plain: it's an educational estimate, not financial advice and not a loan offer.