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Mortgage Calculator

Estimate a fixed-rate mortgage, including optional ownership costs.

Enable JavaScript to use this calculator. Your inputs stay in this browser.

Formula / Calculation Method

Payment = P × r / (1 − (1 + r)^−n). Monthly rate r = annual rate / 12.

Example Calculation

A 100,000 loan at 0% for 10 years has a monthly principal payment of 833.33.

Understanding the Result

Taxes and insurance are annual amounts. HOA and PMI are monthly amounts. PMI is held constant; cancellation rules vary. Closing costs, rate changes and extra payments are excluded.

What is the Mortgage Calculator?

Estimate a fixed-rate mortgage, including optional ownership costs.

How to Use

Start with the purchase price and cash down payment. Enter the quoted fixed annual interest rate and loan term in years. Add annual tax and insurance estimates, then monthly HOA and PMI costs if applicable.

Select Calculate after entering your values. Text tools update as you type. Reset restores the starting fields.

Interpreting the Calculation

The principal-and-interest payment repays the loan. The larger monthly estimate includes the ownership costs you entered. In early periods, interest usually makes up a larger share of each payment; the schedule shows that balance shifting over time.

Common Questions

Why can my lender quote a different payment?

Lenders can include fees, different accrual conventions, escrow adjustments and mortgage-insurance rules. Compare the same loan amount, term and included costs.

What assumptions does this tool use?

Taxes and insurance are annual amounts. HOA and PMI are monthly amounts. PMI is held constant; cancellation rules vary. Closing costs, rate changes and extra payments are excluded.

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