FinanceUpdated 2026-04-12
Mortgage Calculator
Enter home price, down payment, rate, term, and monthly costs to estimate mortgage payments.
Result
Loan amount
$320,000.00
Principal and interest
$2,075.51
Estimated monthly total
$2,550.51
Total interest
$427,185.01
Formula Explanation
Mortgage payment uses the fixed-rate amortization formula and adds optional monthly tax and insurance costs.
How to Use
- Enter the home price and down payment.
- Add the interest rate and term.
- Include monthly property tax and insurance estimates.
Examples
Example: A $400,000 home with $80,000 down at 6.75% over 30 years has about $2,075 principal and interest.
FAQ
Does this include PMI?
No. Add PMI separately if it applies to your loan.
Why include tax and insurance?
They are common monthly housing costs and help estimate a more realistic monthly total.