Mortgage Calculator
Estimate your monthly mortgage payment including taxes and insurance.
Mortgage Calculator
Enter your values and calculate
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How This Calculator Works
A mortgage calculator estimates your monthly home loan payment. It uses the standard amortization formula on the loan principal (home price minus down payment), then adds monthly property tax and insurance. The pie chart shows how much of your total cost goes toward principal, interest, and taxes/insurance over the life of the loan.
Formula
M = P × [r(1+r)^n] / [(1+r)^n − 1]
Example
On a $400,000 home with 20% down ($80,000) at 6.8% for 30 years, the loan amount is $320,000. Principal and interest run about $2,094/mo; adding $400/mo tax and insurance brings the total to roughly $2,494/mo.
Practical Use Cases
- Budgeting for a home purchase
- Comparing 15 vs 30-year terms
- Estimating total interest paid