How to Calculate Your Mortgage Payment
A mortgage payment includes principal (the loan amount), interest, and often property taxes, homeowners insurance, and PMI (Private Mortgage Insurance). Use this calculator to see your monthly payment, total interest over the life of the loan, and how your payments break down over time.
Enter your loan details below to get an accurate estimate of your monthly mortgage payment and see an interactive amortization schedule showing how your balance decreases over time.
Monthly Payment
$0.00
Principal & Interest
$0.00
Property Tax
$0.00
Home Insurance
$0.00
PMI
$0.00
Total Interest
$0.00
Interest % of Total
0%
Total Payments
$0.00
Pay-off Date
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How to Use the Mortgage Calculator
- Home Price: The total purchase price of the home.
- Down Payment: The amount you'll pay upfront (typically 10-20% of home price).
- Loan Amount: Automatically calculated as home price minus down payment.
- Interest Rate: Your annual mortgage interest rate (check current rates with lenders).
- Loan Term: Number of years to repay the loan (typically 15 or 30 years).
- Property Tax: Annual property tax (typically 1-2% of home value).
- Home Insurance: Annual homeowners insurance premium.
- PMI: Private Mortgage Insurance required if down payment is less than 20%.
The calculator automatically updates as you change values, showing you real-time results and an interactive chart of your loan amortization over time.