Mortgage Calculator

By Home Price


By Monthly Payment

Bi-Weekly Payment

/per year
/per month

Payment breakdown

Amortization schedule

Amortization schedule
Monthly Payment

How is my monthly payment calculated?

Principal and Interest
Private Mortgage Insurance
Property Tax
Homeowners Insurance
Amortization schedule
Principal Remaining Interest Paid Principal Paid
Estimated Payoff
May 2024
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Mortgage Calculator Terms

Our mortgage payments calculator can help you quickly estimate the monthly mortgage payments for your new home, including taxes, insurance and PMI. Here’s the info you’ll need to enter into the mortgage calculator:
By Home Price

Getting preapproved by your preferred lender can give you a more accurate estimate of your monthly mortgage payment, and prepare you to make an offer when you find the right home.

By Affordability

Home buyers can save up to $3,000 on their home mortgage loan by getting multiple mortgage quotes. Compare quotes from top lenders today.

By Monthly Payment

Your monthly payment is affected by many factors. Filling out an application with a preferred lender can give you the most accurate estimate of your monthly payment.

Bi-Monthly Payment

Making two mortgage payments a month can quickly reduce principal and save you thousands in interest over the life of your loan. Find out more.

Home Price

Enter the purchase price of the home you want to buy. You can also enter the amount that you think you will offer.

Down Payment

Enter the amount you have saved for a down payment. Don't forget to subtract funds needed for closing costs.

Interest Rate

Enter a realistic interest rate. Base interest rates will vary by lender, your credit score, and your loan term.

Loan Program

Enter which type of loan program you believe that you qualify for. This may be a conventional, FHA, VA or USDA loan.

Property Tax

Enter your estimated property tax, if you know it. This is the assessed value of the home times the local tax rate.

Home Insurance

Enter your estimated home insurance cost, if you know it. This is typically based on home value and location.

Monthly Private Mortgage Insurance

If your down payment is under 20%, you will have to pay PMI, which can range from .5% to 2% of the loan amount.

HOA Dues

If you buy a home in a neighborhood with a homeowners association (HOA), you'll have to pay monthly or annual dues.

Additional Principal Payment

If you plan on paying extra on your mortgage each month, enter the amount to apply towards your loan principal.

Annual Income

Your annual income will be divided by 12 months for the figure used to determine your ability to repay your loan.

Monthly Debts

Your monthly debts (recurring expenses or payments) include such things like loan or credit card bills that must be paid.


Your DTI is a debt-to-income ratio arrived at by comparing your monthly income and expenses. A lower DTI ratio is better.

Desired Monthly Payment

Your monthly payment should be high enough to pay off your loan in a reasonable time period and reduce interest.

Biweekly Payments

Biweekly payments let you make the equivalent of one extra monthly payment per year, reducing principal and interest.

Estimated Payoff

Your estimated payoff can be calculated at any time by referring to your amortization schedule or asking your mortgage company.

Additional Free Tools

Use our free mortgage calculator tools to estimate your monthly mortgage payments based on your unique loan scenario. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.

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