Mortgage Calculator
Estimate a mortgage’s principal-and-interest payment and a fuller monthly housing payment that can include property tax, homeowners insurance, HOA dues, and PMI. This is an educational estimate — not a lender quote, underwriting decision, or approval.
Your results will appear here
Enter your assumptions and calculate to see the estimated result and supporting details.
How this calculator works
Enter home price, down payment, annual interest rate, loan term, and optional annual property tax, annual insurance, monthly HOA, and monthly PMI.
The calculator derives loan amount, monthly principal and interest, ancillary monthly amounts, an estimated total housing payment, and amortization summaries.
Formula / methodology
Loan = Home price − Down payment M = P × [r(1+r)^N] / [(1+r)^N − 1] (for r = 0: M = P / N)
- P is loan principal, r is the monthly interest rate (annual rate ÷ 12), and N is the number of monthly payments.
- Amortization tracks balances in cents: interest each month is rounded to the nearest cent, principal is payment minus interest, and the final payment is adjusted so the ending balance is exactly $0.00.
- Taxes, insurance, HOA, and PMI are user estimates and are not rolled into lifetime mortgage interest.
Worked example
A $300,000 loan at 6.5% for 30 years has a principal-and-interest payment of about $1,896.20.
With a $375,000 home price, $75,000 down, $6,000 annual property tax, $1,800 annual insurance, and $100 monthly HOA, the estimated monthly housing payment is about $2,646.20.
Important assumptions
- Not a loan quote and not underwriting.
- Property tax, insurance, PMI, and HOA are user-supplied estimates — not inferred from location or loan-to-value rules.
- Down-payment percentage is informational only and does not imply lending eligibility.
- Amortization uses a documented cents reconciliation policy.
Common questions
The estimated housing payment can include property tax, insurance, HOA, and PMI in addition to principal and interest.
The monthly principal-and-interest payment equals loan amount divided by the number of months. Interest for each period is zero.
A 30-year loan has 360 monthly rows. An annual summary is easier to scan; you can expand the full monthly schedule when you need detail.
Only the amounts you enter. Closing costs, discount points, and lender-specific escrow rules are not modeled.