Mortgage Payment Calculator
Mortgage Payment Calculator
Make informed decisions about your home purchase with our comprehensive mortgage calculator. Get accurate monthly payment estimates including all costs.
What This Calculator Includes
- Principal & Interest: Core monthly payment based on loan amount and interest rate
- Property Taxes: Monthly portion of annual property taxes
- Home Insurance: Monthly homeowner’s insurance costs
- PMI: Private Mortgage Insurance if applicable
- Total Costs: See total interest paid over the life of the loan
Understanding Your Results
The calculator breaks down your monthly payment into its components, helping you understand exactly where your money goes each month. It also shows the total amount you’ll pay over the life of the loan, including all interest.
Tips for Using This Calculator
- Be Realistic: Include all costs like property taxes and insurance for accurate budgeting
- Compare Terms: Try different loan terms (15 vs 30 years) to see the impact on payments and total interest
- Consider PMI: If your down payment is less than 20%, factor in PMI costs
- Shop Around: Use different interest rates to see how rate shopping can save you money