What would my monthly mortgage payment be?
Mortgage Payment Calculator
Standard amortization math with your own inputs. The rate is whatever you type; it is never a quote.
Estimated monthly payment
— / month
Enter a loan amount (or price and down payment), a rate and a term.
- Loan amount—
- Principal & interest—
- Taxes—
- Insurance—
- Dues—
- Mortgage insurance—
- Total interest over the term—
- Principal remaining after five years—
Excludes closing costs and fees; assumes a fixed rate for the whole term.
Assumptions and how this is calculated
- Principal and interest uses the standard fixed-rate amortization formula on the loan amount (price minus down payment, or the loan amount you type), at the rate and term you enter.
- Taxes and insurance are entered as annual amounts and divided by twelve; association dues and mortgage insurance are entered monthly. None are pre-filled because they vary by property, location and program.
- Total interest is the sum of interest over the full term with no extra payments, refinance or sale.
- The estimate excludes closing costs, escrow cushions, rate changes on adjustable loans, and any fees. It is not a Loan Estimate.
Estimate only. This calculator is an educational estimate based only on the numbers you enter and the stated assumptions. It is not a loan offer, rate quote, pre-approval, or Loan Estimate, and it does not reflect the actual terms of any loan. Rates, fees, taxes, insurance and lender guidelines vary. Speak with a licensed mortgage professional before making decisions.
Behind the numbers
What is inside a mortgage payment
Principal and interest is the amortized loan payment: the same amount each month on a fixed-rate loan, with the share going to principal rising over time. It depends on three things you control in this calculator: loan amount, rate and term.
The full housing payment adds property taxes, homeowners insurance, association dues and, where it applies, mortgage insurance. These vary by property and location, which is why they are inputs rather than assumptions. Closing costs and fees are separate and appear on a Loan Estimate, not here.
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