Loan

Mortgage Calculator

Calculate your monthly mortgage payments including taxes, insurance, and PMI

100% FreeAccurate ResultsComplete Breakdown

Disclaimer

This calculator is for educational purposes only. Results are estimates based on your inputs. Consult a qualified financial advisor for personalized advice. Read full disclaimer

Mortgage Details

Home Price ($)

Down Payment ($) - 20.0%

Interest Rate (%)

Loan Term (Years)

Annual Property Tax ($)

Annual Home Insurance ($)

PMI Rate (% per year, if applicable)

PMI is typically required if down payment is less than 20%

Monthly Mortgage Payment Formula

Calculate your monthly mortgage payment including principal and interest

M = P \times \frac{r(1+r)^n}{(1+r)^n-1}

Where:

M

Monthly payment amount

P

Principal loan amount (home price - down payment)

r

Monthly interest rate (annual rate ÷ 12)

n

Total number of monthly payments (years × 12)

Example:

For a $240,000 loan at 6.5% APR for 30 years, the monthly P&I payment would be $1,516.80

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