๐ Mortgage Calculator
A mortgage calculator that computes the monthly principal-and-interest payment based on the loan amount (home price minus down payment). Add your estimated annual property tax and homeowners insurance to see the real total monthly payment including those costs.
How to use
- Enter the home price and down payment (the loan amount is calculated automatically).
- Enter the annual interest rate and loan term.
- Enter your estimated annual property tax and homeowners insurance (rough estimates are fine).
- The loan amount, monthly principal & interest, total monthly payment including tax/insurance, and total interest are calculated automatically.
FAQ
Does this account for the difference between amortizing and interest-only loans?
This tool calculates a standard fixed-payment amortizing loan, where the principal & interest payment stays the same every month.
Can I calculate a loan with no down payment?
Yes โ set the down payment to 0 to calculate the payment for financing the full home price.
What happens if I leave tax and insurance blank?
They're treated as 0, so the total monthly payment shown will just be the principal & interest amount.
Can I use this for a general loan calculation too?
Yes โ set the down payment and tax/insurance to 0 and it behaves like a standard loan calculator. For general-purpose loans, our Loan Calculator is also available.