Mortgage Calculator
Estimate your full monthly mortgage payment including principal, interest, property tax, and insurance.
About this tool
A mortgage payment is more than principal and interest. Most lenders collect property tax and homeowners insurance in the same monthly payment through an escrow account, and ignoring those two items is the most common reason first time buyers underestimate what a house will actually cost each month.
This calculator shows the full picture: the amortized principal and interest on the loan itself, the monthly escrow portion, the combined payment, and the total interest paid over the life of the loan. Adjust the down payment to see how borrowing less changes both the monthly figure and the lifetime cost.
Frequently asked questions
What is not included in this estimate?
Private mortgage insurance (PMI), which lenders typically require when the down payment is below 20 percent, and HOA dues. Add those separately if they apply to you.
How much house can I afford?
A common guideline is that the full housing payment should stay below 28 percent of gross monthly income. Enter different home prices until the total payment fits that budget.