Mortgage Calculator
Monthly mortgage with tax, insurance and HOA.
Monthly breakdown
Loan totals
About this tool
Mortgage Calculator shows the full monthly cost of buying a home, not only the loan payment. Enter the price, down payment, interest rate and term, then add property tax, insurance and HOA or service fees to see each part of the payment.
How to use Mortgage Calculator
- Enter the home price, down payment, term and rate.
- Add yearly property tax, insurance and monthly fees.
- See the total monthly payment and breakdown.
Questions people ask
How is the monthly mortgage payment calculated?
Loan = price − down payment. Principal and interest = L × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r = yearly rate ÷ 12 and n = years × 12. Total monthly = principal and interest + property tax ÷ 12 + insurance ÷ 12 + HOA.
How much down payment do I need?
It depends on the lender and loan type, often 3% to 20%. Under 20%, many lenders add mortgage insurance (PMI), which this calculator does not include. A larger down payment lowers the loan, the payment and total interest.
How much house can I afford?
A common guideline is the 28/36 rule: housing costs under 28% of gross monthly income and all debt payments under 36%. For a 3,000 monthly payment that means a gross income of about 10,700 a month.