Finance
Mortgage Calculator
Estimate your monthly mortgage payments, including principal and interest.
$
$
20.0% of home value
Monthly Payment
$0
Loan Amount$0
Total Interest$0
Total Cost of Loan$0
Frequently Asked Questions
How is the monthly payment calculated?
We use the standard amortization formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ], where M is the monthly payment, P is the principal loan amount, i is the monthly interest rate, and n is the number of months.
Does this include taxes and insurance?
This calculator currently estimates Principal and Interest (P&I) only. Property taxes, homeowner's insurance, and HOA fees are not included in this calculation.
What is a down payment?
A down payment is the initial upfront portion of the total amount due. A larger down payment reduces the loan amount and typically lowers your monthly payment.