Mortgage Calculator
Estimate a monthly mortgage payment from home price, down payment, interest rate, and term, with optional property tax, home insurance, and PMI added to the total.
How the calculation works
The loan amount (home price minus down payment) is amortized using the standard fixed-rate monthly payment formula over the entered term. Optional property tax, home insurance, and PMI are added as simple monthly amounts to estimate the total monthly payment, matching common escrow presentation.
Assumptions
- A fixed interest rate is assumed for the entire loan term.
- Property tax and home insurance are annual figures divided evenly by 12.
- PMI is entered directly as a flat monthly amount, not calculated from loan-to-value.
What is not included
- Closing costs, HOA fees, and adjustable-rate scenarios are not automatically included.
- The calculator does not evaluate loan eligibility, approval, or lender terms.
- This calculator does not provide mortgage, tax, or investment advice.
Educational disclaimer
This is not a loan offer, pre-approval, or guarantee of terms. Actual mortgage terms depend on lender underwriting, credit profile, and market conditions.
This calculator does not provide financial, tax, legal, or real estate advice. Review important home-buying decisions with a qualified professional.
Review the methodology, editorial policy, and disclaimer.
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