Buying
Mortgage calculator
Mortgage calculator
Use our mortgage calculator to make estimating your monthly mortgage payment easy. Just edit the home value, your down payment amount, the type of mortgage, and the interest rate.
Mortgage information
Home price
$
Down payment
$
or%
Mortgage type
30-year fixed
20-year fixed
15-year fixed
Intrest rate
%
Include PMI
Include property tax
Include homeowner’s insurance
Include HOA dues
Show tax, insurance, and HOA fees
Total monthly payment breakdown
Principal and interest
$0Explanation of mortgage terms
Home price
The dollar amount you expect to pay for a home. You can find a perfect home that’s within your budget
Down payment
The initial cash payment, usually represented as a percentage of the total purchase price, a home buyer makes when purchasing a home.
Mortgage types
Your loan program can affect your interest rate and monthly payments. Choose from 30-year fixed, 15-year fixed, and 5/1 ARM in the calculator.
Interest rate
The ongoing cost of financing a home purchase. This is generally shown as an annual percentage of the outstanding loan.
Private Mortgage Insurance
PMI calculated annually as a percentage of your original mortgage amount based on your credit rating and down payment. The additional cost does not apply toward your mortgage payoff.
Homeowner’s insurance
Generally a requirement for any home mortgage. Costs and coverage vary by state and the value of the home. Get professional advice to make sure you have the proper coverage.
Homeowner’s Association fees
HOA fees are due in exchange for being part of a homeowner’s association. By purchasing a property in such a community, the homeowner is agreeing to the HOA’s rules and fees.
Monthly payment
The amount you pay each month for your mortgage, homeowner’s insurance, and HOA fees. This payment should be no more than 25% of your monthly take-home pay.
Property taxes
Taxes levied based on the government’s appraisal of your property. These are usually included as part of your monthly mortgage payment. Property taxes vary depending on location and home price.