Mortgage Calculator
Calculate your monthly mortgage payments
Loan Details
Results
Enter details to calculate
About this Tool
The Mortgage Calculator helps you estimate your monthly mortgage payment, including principal and interest. It's an essential tool for homebuyers to understand the financial commitment of a home loan.
Common Use Cases
Home Buying
Estimate your monthly payments to determine how much house you can afford.
Refinancing
Compare your current mortgage with new offers to see if refinancing can save you money.
Loan Comparison
See how different loan terms (e.g., 15-year vs. 30-year) or down payments affect your monthly payment and total interest.
Pro Tips
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The 20% Rule
A down payment of at least 20% helps you avoid Private Mortgage Insurance (PMI), which can add to your monthly cost.
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PITI is Key
Your full monthly housing payment will also include property taxes and homeowners insurance (PITI). This calculator only shows principal and interest.
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Shop for Rates
Getting quotes from multiple lenders can save you a significant amount of money over the life of your loan.