Mortgage Calculator
This mortgage payment calculator helps home buyers estimate their monthly mortgage payment using a property’s purchase price, down payment, interest rate, and loan term. Whether you’re buying your first home or planning a move, this home loan calculator provides a quick way to understand what your principal and interest payment may look like before speaking with a lender. Results are estimates for planning purposes only and do not include property taxes, homeowners insurance, PMI, or other costs that may affect your total monthly mortgage payment.
How to Read These Numbers
This mortgage calculator is designed to help home buyers understand their estimated monthly mortgage payment based on basic loan details.
Loan Amount represents the amount being financed after subtracting the down payment from the home’s purchase price. This principal balance is the foundation of any home loan and directly affects your monthly payment.
Estimated Monthly Mortgage Payment shows the calculated principal and interest (P&I) payment based on the interest rate and loan term you entered. This figure reflects the core mortgage payment only and does not include property taxes, homeowners insurance, PMI, HOA fees, or other costs that may impact your total monthly housing payment.
Because mortgage rates, loan programs, and lender terms vary, these results are estimates for planning purposes only and should not be considered a loan quote or approval.
Use this mortgage payment calculator as a starting point to evaluate affordability, compare loan scenarios, and prepare for conversations with lenders when buying a home.