Free Mortgage Calculator

Estimate Your Monthly Home Loan Payments

Use our free mortgage calculator to estimate your monthly mortgage payment in seconds. Enter your home price, down payment, interest rate, and loan term to see principal & interest, taxes, insurance, HOA and optional PMI — plus a downloadable amortization schedule.

Mortgage Calculator

Estimate monthly payments including P&I, taxes, insurance, HOA, and optional PMI.

Total Monthly Payment all-in
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Principal & Interest
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Taxes (monthly)
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Insurance (monthly)
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HOA (monthly)
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PMI (monthly)
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Loan Amount
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Amortization schedule (first 12 months)  • 
MonthPaymentPrincipalInterestBalance

Estimates only. Local taxes/insurance/PMI vary by region and lender.

How to use this mortgage calculator

  1. Choose your currency and country (we'll prefill typical interest/tax values).

  2. Enter Home Price and Down Payment.

  3. Adjust Interest Rate and Term.

  4. (Optional) Add Property Tax, Insurance, HOA, and PMI.

  5. Click Calculate to see your total monthly payment and amortization.

What's included in your monthly payment?

  • Principal & Interest (P&I): The loan repayment and interest portion based on your term and rate.

  • Property Taxes: Annual % of value, divided by 12 months (varies by location).

  • Homeowners Insurance: Annual policy cost, divided by 12 months.

  • HOA Fees: Monthly dues if applicable.

  • PMI (Private Mortgage Insurance): Usually required when LTV > 80%; drops off after sufficient equity.

Tips to lower your mortgage payment

  • Increase your down payment to reduce PMI and interest costs.

  • Compare rates from multiple lenders — even a 0.25% difference compounds over 30 years.

  • Consider shorter terms (e.g., 20 or 15 years) if you can handle a higher monthly P&I to reduce total interest.

Common scenarios

  • First-time buyers: Toggle PMI on/off to see the impact of reaching 20% down.

  • Investors: Adjust taxes, insurance, and HOA to model different markets.

  • Refinancing: Enter your new rate and remaining term to compare savings.


Disclaimers

This tool is for educational purposes and provides estimates only. Actual terms depend on your lender, credit profile, loan program, taxes, and insurance quotes.

FAQ

1. How accurate is this mortgage calculator?

It's accurate for the principal & interest math. Taxes, insurance, and PMI are estimates that vary by location and lender.

2. What tax rate should I use?

Pick your country in the preset and refine manually. Local property tax rules differ widely; when in doubt, ask your municipality or lender.

3. What is PMI and when is it required?

PMI is insurance charged on low-down-payment loans. It's typically required when your loan-to-value (LTV) exceeds 80%.

Estimate Your Mortgage Payment

Whether you're buying your first home, refinancing, or budgeting for your dream house, our mortgage calculator helps you break down costs and understand what you'll owe each month. Simply enter your home price, down payment, loan term, and interest rate.

Fast & Simple

Get instant results with a clean and intuitive interface – no signup required.

Accurate Estimates

Built with current market standards to reflect realistic monthly payments.

Helpful Planning Tool

Use your results to compare loan options, prepare for refinancing, or budget smarter.