Free Financial Calculator
Free mortgage calculator. Estimate your monthly mortgage payment from home price, down payment, interest rate and loan term, including principal, interest, taxes and insurance.
Beyond the principal and interest, home ownership includes taxes and insurance. This calculator shows the total monthly outlay so you can budget realistically before you commit to a purchase or refinance.
A small change in interest rate or term can shift your payment significantly. Run a few scenarios to understand your options and be prepared when you talk to a lender.
Your monthly payment is built from the loan principal, the interest rate, the loan term and, where relevant, property taxes and insurance. The calculator divides the amortized loan into equal monthly installments and can factor in the extra costs of home ownership.
The largest drivers are the loan amount, interest rate and term length. A lower rate or a longer term reduces the monthly payment, while a larger down payment lowers the amount you need to borrow.
A widely used guideline is that your monthly housing costs should stay within about 28%–36% of your gross monthly income. Use this calculator to test different down payments and rates and see what fits your budget.
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