Mortgage Calculator

Estimate principal-and-interest payments for a home loan and compare term or rate scenarios.

Method and required inputs

Add property tax, insurance, association dues, maintenance, closing costs, and mortgage insurance separately when judging affordability; the loan payment is not the complete housing cost.

The core payment uses principal, interest rate, and term for a fixed-rate amortizing mortgage. Complete housing cost should also include property tax, homeowners insurance, mortgage insurance, association dues, maintenance, utilities, and closing costs.

Read the complete result

Compare the same home price under different down payments and rates. A larger down payment can reduce the loan and possibly mortgage insurance, but using all available cash can leave the household without reserves for closing adjustments, repairs, or income disruption.

Run a stress case

Stress taxes, insurance, maintenance, and rates rather than looking only at principal and interest. Test affordability using documented income and existing monthly obligations, then compare the result with the payment level a lender may approve.

Limits and verification

Actual qualification depends on credit, debt-to-income calculations, program rules, property eligibility, reserves, documentation, fees, and lender overlays. The estimate is not a loan estimate or approval.

This calculator is educational, not a quote, approval, guarantee, tax opinion, or individualized recommendation. Confirm material figures, current rules, and actual product terms before acting.

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