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HOME & BORROWING

Mortgage payment calculator

See your full monthly housing estimate and how extra payments could shorten the loan.

Your numbers

Start with the example, then make it yours. Amounts are in US dollars.

Use the loan interest rate, not APR with fees included.
Enter 0 if none.
Enter the quoted amount if required; it is not estimated automatically.
Paid on top of the scheduled loan payment.
Excludes your down payment. Not added to the loan.

How this estimate works

Uses a fixed-rate, fully amortizing loan with monthly interest and payments. Extra principal reduces the balance after each monthly interest charge. Property taxes and insurance are divided by 12; HOA and mortgage insurance are added to the monthly estimate. They are held constant and do not enter the loan amortization. Mortgage insurance does not automatically drop off. Upfront cash is down payment plus the closing costs you enter.

This is a payment estimate, not an affordability decision or lender quote. It excludes maintenance, utilities, tax deductions, rate changes and prepayment penalties. Your lender may use different rounding or payment dates.

CFPB: Understanding monthly mortgage payments ↗

A little more clarity

Does this include taxes and insurance?

Yes, when you enter them. The result separates principal and interest from property tax, home insurance, HOA and mortgage insurance so you can see the full starting monthly estimate.

How do extra payments help?

Extra principal reduces the balance sooner, which reduces future interest under the fixed-rate assumptions. Taxes, insurance and other ownership costs can continue after the loan ends.

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