Finance

Mortgage Payment Calculator

Estimate a monthly mortgage payment including principal, interest, taxes, and insurance.

The principal and interest figure is the monthly loan payment alone, while the total figure adds monthly tax and insurance to show the fuller monthly housing payment.

Formula

The loan portion uses the standard amortising payment formula on price minus down payment; tax and insurance are divided by 12 and added.

How it works

Enter the home price and down payment to get the loan amount, then add monthly tax and insurance for a realistic total. Private mortgage insurance, HOA fees, and closing costs are not included.

Worked example

For example, a $350,000 home price with a $70,000 down payment gives a $280,000 loan; at 6.5% over 30 years the principal and interest payment is $1,769.79, and adding $350.00 monthly tax and $150.00 monthly insurance gives a total of $2,269.79 per month.

FAQs

Is this my full monthly housing cost?
Close, but add HOA dues and any mortgage insurance if they apply.

What changes the payment most?
The interest rate and the loan size, followed by the term length.

Should I use the listed rate or my offered rate?
Use the rate you were actually offered for the most realistic figure.

Are these figures financial advice?
No — they are estimates for planning only, not financial advice. Check with a qualified adviser for decisions involving large sums.

Estimates only, not financial advice. Figures are approximate and do not include all fees, taxes, or changing rates unless stated.

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