Free Mortgage Calculator Online
Estimate your monthly mortgage payment with taxes and insurance included
Complete Mortgage Analysis
Understand every component of your monthly housing cost
See exactly how your monthly payment splits between principal, interest, property tax, and homeowners insurance.
Enter your down payment as a dollar amount or a percentage of the home price, whichever is more convenient.
View the total amount paid over the life of the mortgage and how much goes to interest versus principal.
About Our Mortgage Calculator
Our free mortgage calculator provides a comprehensive estimate of your monthly home loan payment. Include property taxes and insurance for a realistic view of your total housing cost. All calculations happen instantly in your browser.
Frequently Asked Questions
How much down payment do I need?
Down payment requirements vary by loan type. Conventional loans typically require 5 to 20 percent, FHA loans as little as 3.5 percent, and VA loans may require zero down.
A larger down payment reduces your monthly payment and total interest paid over the life of the loan.
Use this calculator to compare scenarios with different down payment amounts to find what works for your budget.
What costs are included in the monthly payment?
The calculator includes principal and interest by default. You can optionally add annual property tax and homeowners insurance for a more complete estimate.
Private mortgage insurance (PMI), HOA fees, and other costs are not included but can be significant for some borrowers.
Always check with your lender for a full breakdown of all costs associated with your specific mortgage.
How does the loan term affect my payment?
A shorter loan term means higher monthly payments but significantly less total interest paid. A 15-year mortgage typically saves tens of thousands in interest compared to a 30-year mortgage.
Longer terms lower your monthly payment but increase the total cost of the home over time.
Try different term lengths in the calculator to see the trade-off between monthly affordability and total cost.
Is this calculator accurate for my actual mortgage?
This calculator provides a close estimate based on the standard mortgage amortization formula. Actual payments may vary slightly based on your lender, fees, and exact terms.
Factors like points, origination fees, and PMI are not included in this estimate.
Use the results as a planning tool and verify final numbers with your mortgage lender.