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Compare monthly payment scenarios across different price points.
Mortgage Calculator
Estimate monthly mortgage payment including principal, interest, and optional tax/insurance costs.
Estimated monthly cost
$2,804.95
- Loan principal
- $360,000.00
- P&I payment
- $2,334.95
- Estimated total interest
- $480,583.13
What it does
This calculator estimates mortgage payments from home price, down payment, interest rate, and term, with optional monthly tax and insurance costs.
How to use it
- 1.Enter home price and down payment.
- 2.Enter annual interest rate and loan term in years.
- 3.Optionally add monthly property tax and insurance.
- 4.Review monthly payment and total interest.
Real-world examples
Down-payment planning
Estimate how increasing down payment changes monthly burden.
Refinance analysis
Evaluate whether a new rate can lower payment or lifetime interest.
Common mistakes
- - Forgetting to include taxes and insurance in monthly housing cost.
- - Comparing only interest rate without considering term length.
- - Using gross income assumptions without full budget stress testing.
Why it matters
Mortgage payments are often the largest recurring household expense. Clear projections reduce risk and improve long-term financial planning.
FAQs
What is included in mortgage payment here?
The calculator shows principal and interest by default, with optional monthly property tax and insurance added to total monthly cost.
How does down payment affect mortgage cost?
A higher down payment reduces loan principal, usually lowering monthly payment and total interest.
Can this replace lender disclosures?
No. Use this for planning, then confirm final terms, fees, and escrow details with your lender.