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Mortgage calculator

Estimate your monthly US mortgage payment with principal & interest, property tax, and homeowners insurance. See total interest and lifetime cost.

Home & loan details

Home price ($50K – $5M)

$400,000

Down payment

Down: $80,000

Interest rate (1% – 15% per year)

Loan term

Property tax (% of home value / year)

Home insurance ($ / year)

Results

Loan $320,000 · 360 payments

Total monthly payment: $2,547.62; P&I: $2,022.62Tax: $400.00Insurance: $125.00
Total interest (P&I): $408,142
Total cost (down + all payments): $997,142

Lifetime payment mix

Share of principal, interest, property tax, and insurance over the loan term

32.1%

40.9%

14.4%

Principal 32.1%Interest 40.9%Property tax 14.4%Insurance 4.5%

How it works

Principal & interest use standard fixed-rate amortization: M = P × r(1 + r)ⁿ / ((1 + r)ⁿ − 1), where P is the loan amount, r is the monthly rate (annual ÷ 12), and n is months. Monthly property tax is (home value × annual tax %) ÷ 12; insurance is annual premium ÷ 12. Total cost includes your down payment plus all monthly payments over the term.

FAQ

Does this include PMI or HOA?

No. PMI, HOA fees, and escrow adjustments vary by lender and property. Add those separately if they apply.

Is property tax based on purchase price?

We apply your annual % to the entered home price as a simple estimate. Assessed value and mill rates differ by county—use official tax bills for exact amounts.

Why 15- and 30-year terms only?

These are the most common US fixed-rate terms. Other terms exist; your lender can quote payments for any amortization schedule.

Will my payment match the lender’s disclosure?

Close for P&I if the rate and balance match. Final figures depend on closing costs, escrow, rounding, and day-count conventions—always rely on your Loan Estimate and Closing Disclosure.