About Mortgage Calculator
Mortgage Calculator estimates your total monthly house payment. Enter the home price, down payment, interest rate and loan term, then add property tax, homeowners insurance, PMI and HOA fees to see your real monthly cost and how your loan balance falls over time.
How to use Mortgage Calculator
- Enter the home price and your down payment.
- Enter the interest rate and loan term.
- Add taxes, insurance and fees to see your full monthly payment.
Frequently asked questions
What is PMI?
Private mortgage insurance is usually required when your down payment is less than 20% of the home price. It is typically 0.3% to 1.5% of the loan per year.
What is included in the monthly payment?
Principal and interest, plus property tax, homeowners insurance, PMI and HOA dues if you enter them.
How can I lower my mortgage payment?
A bigger down payment, a lower interest rate or a longer term all reduce the monthly payment. Avoiding PMI with 20% down also helps.