Mortgage Calculator

Calculate your monthly mortgage payments and view your complete amortization schedule

Payment Calculator Compare Loans Amortization Schedule FAQ

Monthly Payment Calculator

Home Price

Down Payment

Loan Term

Interest Rate

Property Tax (Annual)

% of home value

Typical range: 0.5% - 2.5%

Home Insurance (Annual)

PMI (if down payment < 20%)

Extra Monthly Payment (Optional)

Payment Breakdown

Principal & Interest: $0

Property Tax: $0

Home Insurance: $0

PMI: $0

Total Monthly Payment: $0

Amortization Schedule

Year	Principal	Interest	Balance

Understanding Your Mortgage

Types of Mortgages

Conventional Loans
FHA Loans
VA Loans
USDA Loans
Jumbo Loans

Key Terms to Know

Principal & Interest
Property Taxes
Homeowners Insurance
Private Mortgage Insurance (PMI)
Escrow Account

Frequently Asked Questions

Monthly mortgage payments are calculated using the loan amount, interest rate, loan term, property taxes, and insurance. The formula includes principal and interest payments, plus monthly portions of annual property taxes and insurance premiums.

Private Mortgage Insurance (PMI) is typically required when your down payment is less than 20% of the home's value. It protects the lender if you default on the loan. PMI can be removed once you reach 20% equity in your home.

The amount of house you can afford depends on your income, debt, down payment, credit score, and current mortgage rates. A common rule is that your monthly mortgage payment should not exceed 28% of your gross monthly income.