Mortgage Calculator

Estimate your monthly mortgage payment, including taxes and insurance, with a full amortization schedule.

Estimate your monthly mortgage payment from the home price, your down payment, the interest rate and the loan term — optionally including property tax and home insurance — and view a year-by-year amortization schedule showing how the balance is paid down.

How it works

Loan amount = Home price × (1 − Down payment % ÷ 100). The monthly principal-and-interest payment (P&I) uses the standard amortization formula: P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where P is the loan amount, r is the monthly rate (the annual rate ÷ 100 ÷ 12) and n is the number of months (term in years × 12, rounded). At a 0% rate the loan is simply divided into equal parts.

The total monthly payment adds one twelfth of the annual property tax and one twelfth of the annual home insurance to the P&I payment.

The schedule is built by simulating every monthly payment: each month, interest is charged on the remaining balance, and whatever is left of the payment reduces the principal. The monthly figures are added up into one row per year. In early years most of each payment is interest; later most is principal.

Amounts are labelled with the site-wide currency chosen in Settings; nothing is converted.

How to use it

Enter the Home price.
Enter the Down payment as a percentage of the price.
Enter the Annual interest rate and the Loan term in years.
Optionally enter the annual property tax and home insurance to see the full monthly cost.
Read the results, and open “View full amortization schedule” to see the year-by-year breakdown.

Options & controls

Loan inputs

Home price: The purchase price, in the current currency. Must be greater than 0. Default: 400,000.
Down payment %: The share of the price you pay up front, as a percentage, for example 20. It must be less than 100. If it is 100 or more, the results are replaced by “Down payment must be less than the home price.” Default: 20.
Annual interest rate (%): The yearly rate, in steps of 0.01. Cannot be negative; enter 0 for an interest-free loan. Default: 6.5.
Loan term (years): The length of the loan. Must be greater than 0; it is converted to whole months. Default: 30.

Optional extras

Annual property tax (optional): Your yearly property tax bill, as an amount, not a percentage. Empty counts as 0. Default: 0.
Annual home insurance (optional): Your yearly insurance premium, as an amount. Empty counts as 0. Default: 0.

Buttons and panels

Copy: Copies the four headline figures as one line of text.
View full amortization schedule: A collapsible section under the results. Click it to open or close the table.
Reset: In the title row. Restores the six sample values.
Assumptions & notes: A reminder that this is a simplified estimate. On phones it sits behind a toggle.

Reading the results

Headline figures

Monthly payment (P&I): The principal-and-interest payment only.
Total monthly payment (incl. taxes & insurance): P&I plus one twelfth of the annual tax and one twelfth of the annual insurance. Same as P&I when both are 0.
Loan amount: The price minus the down payment.
Total interest over the loan: Everything paid in interest across the whole term (not including tax or insurance).

Amortization schedule (one row per year)

Year: The year of the loan: 1 is the first twelve payments.
Principal paid: How much of that year's payments reduced the loan balance.
Interest paid: How much of that year's payments went to interest.
Remaining balance: What you still owe at the end of that year. It reaches 0 in the final row.

Tips & guidelines

A bigger down payment lowers the loan amount and the total interest. Try 10%, 20% and 30% and compare.
Compare terms: a 15-year loan has a higher monthly payment than a 30-year one, but far less total interest.
To see how much a small change in rate costs, adjust the rate by 0.25% and compare Total interest.
Enter the tax and insurance for the home you are considering — the true monthly cost can be much higher than P&I alone.

Limits

Fixed rate only, with equal monthly payments. Adjustable-rate mortgages, interest-only loans and balloon payments are not modelled.
PMI (mortgage insurance), HOA fees, closing costs and maintenance are not included.
There is no support for extra or one-off principal payments, and the schedule is yearly, not monthly.
Lenders' actual payments can differ slightly because of rounding and how they calculate interest.
Leaving the interest-rate box empty may give an unusable result; enter 0 if you mean 0%.

Saved in your browser

Nothing. Values return to the defaults when you refresh.

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