Mortgage Calculator
Estimate the true monthly cost of a home loan — principal, interest, property tax and insurance — in one place. Enter the home price, down payment, interest rate and term, then add your annual property-tax and insurance estimates to see your total monthly outlay and lifetime cost.
How to use
- 1
Enter the home price
Type the purchase price of the property. Defaults to 400,000 to make the example tangible.
- 2
Enter the down payment
Specify the cash you will put down upfront. The percentage of the home price is shown live — below 20% most lenders require PMI.
- 3
Set the rate, term, tax and insurance
Enter the annual interest rate, the term in years, and your annual property-tax and home-insurance estimates. The monthly breakdown adds all four together.
- 4
Read the breakdown and schedule
The total monthly payment is split into principal & interest, tax and insurance. The first 12 months of the amortisation schedule appear below.
Common use cases
- Compare monthly payments on a 15-year vs 30-year mortgage before committing.
- Stress-test affordability at a higher interest rate before locking in.
- See how a larger down payment reduces both the loan size and the monthly payment.
- Budget for the full monthly housing cost (PITI) — not just the loan repayment.
Limitations
- This calculator produces an estimate only and is not professional financial, tax or investment advice. Always confirm the underlying formulae with your accountant, bank or financial advisor before making decisions.
- Private mortgage insurance (PMI), HOA dues, flood insurance and closing costs are not included. Add PMI manually if your down payment is below 20%.
- Property tax and insurance are split evenly across 12 months. Real escrow payments may differ based on local assessment cycles.
- The model uses a fixed-rate annuity structure. Adjustable-rate mortgages (ARMs), interest-only periods and balloon payments are not supported.
Frequently asked questions
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