Mortgage Calculator – Estimate Monthly Payments Free
Calculate your monthly mortgage payment with taxes, insurance, and PMI. Compare loan terms and see your full amortization schedule — free and instant.
What this calculator does
The Mortgage Calculator estimates your result instantly from the values you enter, using standard mortgages formulas. Calculate your monthly mortgage payment with taxes, insurance, and PMI. Compare loan terms and see your full amortization schedule — free and instant. Calculations run in your browser, so nothing you type is sent to a server, and the output is an estimate for planning rather than financial advice.
Your Monthly Payment
Total Estimated Monthly Payment (PITI)
- Principal & Interest $0.00
- Property Tax $0.00
- Home Insurance $0.00
- HOA Fees $0.00
What This Means
About Mortgage Calculator
The Mortgage Calculator estimates a monthly housing payment from home price, down payment, fixed annual interest rate, loan term, annual property tax, annual home insurance, and monthly HOA fees. It also reports principal-and-interest cost, lifetime interest, and loan-to-value ratio.
The lifetime loan-cost figures include principal and interest only. Property tax, insurance, and HOA amounts are included in the monthly estimate but not in the displayed lifetime principal-and-interest total.
Formula & Mathematical Calculation
Loan amount = Home price − Down payment
Monthly P&I = P × [r(1 + r)n] ÷ [(1 + r)n − 1]
Total monthly payment = Monthly P&I + Annual property tax ÷ 12 + Annual insurance ÷ 12 + Monthly HOA
P is the loan amount, r is the annual rate divided by 100 and 12, and n is years × 12. Loan-to-value = Loan amount ÷ Home price × 100.
Calculation Example
Example: A $380,000 home with a $76,000 down payment creates a $304,000 loan. At 6.5% for 30 years, with $4,500 annual property tax, $1,200 annual insurance, and $0 HOA, monthly principal and interest is $1,921.49. Adding $375.00 tax and $100.00 insurance gives a total monthly payment of $2,396.49. Lifetime interest is $387,735.24, total principal plus interest is $691,735.24, and LTV is 80.0%.
Key Benefits
- Combines principal, interest, property tax, insurance, and HOA in the monthly estimate
- Separates monthly principal and interest from other entered housing costs
- Shows lifetime interest and principal-plus-interest cost
- Calculates loan-to-value from home price and down payment
How to Use this Calculator
-
Enter purchase details
Provide the home price and down payment. -
Set rate and term
Enter the fixed annual interest rate and choose 10, 15, or 30 years. -
Add recurring housing costs
Enter annual property tax, annual home insurance, and monthly HOA fees if applicable. -
Review payment and loan metrics
Compare total monthly payment, lifetime interest, principal-plus-interest cost, and LTV.
Assumptions & Limitations
What the calculation assumes
- Every value you enter is treated as an exact, known amount.
- Rates and contributions are assumed to stay constant for the whole period unless the form asks for them separately.
- Results use standard financial formulas and ignore fees, penalties and promotional terms that are not entered above.
- Inflation, tax changes and market volatility are not modelled unless a field for them is provided.
- Amounts are unit-agnostic: results are returned in the same currency you enter.
What it does not cover
- Mortgage Calculator produces estimates for education and planning, not a quote, offer or professional advice.
- Real-world outcomes differ when fees, taxes, rounding rules or provider-specific terms apply.
- Local regulations and tax rules vary by country and change over time; verify current rules for your jurisdiction.
- Figures are only as accurate as the inputs you supply — check them before acting on the result.
- For decisions with lasting financial impact, confirm the numbers with a qualified professional.
Frequently Asked Questions
Free to use, no account needed. Calculations run in your browser, so nothing you type is sent to a server. Results are estimates — how we build and check our calculators.
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Next step: browse the full Mortgages calculators or read the related guides for context before you decide.