Mortgage Calculator
Estimate your monthly mortgage payment, total interest and full amortization schedule — including property tax, insurance and PMI.
Taxes & insurance (optional)
Enter a home price greater than the down payment and a term of at least 1 year.
Monthly payment
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Monthly breakdown
- Principal & interest
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- Property tax (annual)
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- Home insurance (annual)
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- PMI
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- Loan amount
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- Total interest
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- Total cost
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Amortization schedule
Schedule shows principal and interest only; taxes, insurance and PMI are billed on top.
| Month | Payment | Principal | Interest | Balance |
|---|
This calculator is for illustration only and does not constitute financial advice. Actual rates and payments depend on your lender.
Frequently asked questions
How is the monthly mortgage payment calculated?
The calculator uses the standard amortization formula: M = P × r / (1 − (1 + r)^−n), where P is the loan amount, r the monthly interest rate and n the number of monthly payments. Property tax, insurance and PMI are then added on top.
How much down payment do I need?
Most lenders ask for 3–20% of the home price. Putting down 20% or more usually removes the requirement for private mortgage insurance (PMI) and lowers your monthly payment.
What is included in the monthly payment?
The core payment covers principal and interest (P&I). Many homeowners also pay property tax, home insurance and — with less than 20% down — PMI as part of the same monthly bill. Fill in the optional fields to see the full breakdown.