How Much Will My Payments Be?


Use our home loan calculator to estimate your mortgage payment, with taxes and insurance. Simply enter the price of the home, your down payment, and details about the home loan to calculate your mortgage payment breakdown, schedule, and more.

Mortgage calculator


Mortgage calculator help

Our mortgage payments calculator can help you quickly estimate the monthly mortgage payments for your new home, including taxes, insurance and PMI. Here’s the info you’ll need to enter into the mortgage calculator:

Enter the purchase price of the home you want to buy. You can also enter the amount that you think you will offer.
Most home loans require a down payment of at least 3%. A higher down payment will lower your monthly payment.
Your Mortgage Term can affect your interest rate and monthly payments. Insert loan program length in the calculator. Popular loan lengths are 30-years and 15-years.
This is pre-filled with the current average mortgage rate. Your actual rate will vary based on factors like credit score and down payment.
The mortgage payment calculator includes estimated property taxes based on the home’s value. You can edit this in the advanced options.
Home insurance or homeowners insurance is typically required by lenders. You can edit this number in the mortgage calculator advanced options.

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More ways to use our mortgage calculator


A mortgage payment calculator is a powerful real estate tool that can help you do more than just estimate your monthly payments. Here are some additional ways to use our mortgage calculator:

Calculate different scenarios

Considering what to offer on a new home? Use our mortgage calculator to estimate and compare the monthly payments for different offer scenarios. Change the home price in the loan calculator to see if going under or above the asking price still fits within your budget. If you’re looking to see what you can afford to spend on a new home, try our affordability calculator.

You can also use our mortgage payment calculator to see the impact of making a higher down payment. A higher down payment will lower your monthly payments, not only because it reduces the amount of money you borrow, but it can sometimes help you qualify for a lower interest rate. In some cases, a down payment of at least 20% of the home’s purchase price can help you avoid paying private mortgage insurance (PMI).

See where your money is going

A monthly mortgage payment is made up of a number of different costs, and our mortgage calculator’s payment breakdown can show you exactly where your estimated payment will go: Principal and interest (P&I), homeowners insurance, property taxes, and private mortgage insurance (PMI).

Click the “Amortization Schedule” button after you enter your information in the Mortgage Calculator to see an in-depth table showing the principal and interest paid (as well as the remaining balance) for each month.

Estimate the cost of different loan lengths

The loan length you use to finance a new home can make an impact on your monthly mortgage payment. Use our mortgage payment calculator to estimate and compare the cost of different loan lengths. Popular loan lengths are 30-years and 15-years. Simply insert your desired loan length under “Mortgage Term ” and the payment will automatically change to incorporate the average interest rate and term for that loan length.

In general, the longer (higher) the years, you will have the lowest payment amount, but the highest interest rate. A 15-year loan will have a higher payment amount compared to a 30-year loan, but you’ll pay the loan off faster and pay less interest over the life of the loan.

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