Mortgage payment calculator
The full monthly payment, not just principal and interest.
Your inputsNothing is saved or sent. Standard amortization formula; mortgage insurance applied only when the down payment is under 20 percent.
How to read it
Principal and interest is set by the loan amount, rate and term. Taxes and insurance are usually collected monthly into escrow and depend on the property, not the loan. Mortgage insurance applies to most conventional loans with less than 20 percent down and to all FHA loans, at rates the lender or FHA sets. HOA dues are paid to the association but lenders count them when qualifying you.
The total interest line shows what the loan costs over its full term if you never pay extra. A shorter term raises the monthly payment and cuts total interest sharply.
An illustration, not a loan offer or an advertised rate. Your rate and costs depend on your application and the lender. See disclaimers.
Questions people ask
What is included in a monthly mortgage payment?
Principal and interest on the loan, plus property taxes and homeowners insurance collected into escrow, mortgage insurance when the down payment is under 20 percent on a conventional loan or on any FHA loan, and HOA dues where they apply. Lenders count all of them when qualifying you.
How much does a shorter term change the payment?
A 15-year loan has a higher monthly payment than a 30-year loan at the same rate but cuts total interest sharply, often by more than half. The calculator shows total interest over the full term for any inputs.
Is this an offer or a rate quote?
No. It is an illustration based on the figures you enter. Your actual rate, payment, closing costs and eligibility depend on your application, the property, the lender and the market on the day you lock.