Mortgage Calculator
Estimate your monthly mortgage payment, including property tax and insurance.
How it works
The loan amount is the price minus your down payment. The monthly principal and interest payment uses the standard amortization formula. Tax and insurance are spread over 12 months.
Formula
M = L × r ÷ (1 − (1 + r)^−n), where L = loan amount, r = monthly rate (APR ÷ 12), n = number of monthly payments
Example
A $300,000 home with $60,000 down at 6.5% for 30 years has a $240,000 loan and a principal and interest payment of $1,516.96 per month.
FAQ
What is not included?
HOA fees, PMI, closing costs and rate changes are not included.
Is this a loan offer?
No. It is an estimate. Your lender provides the official figures.
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Related guides
Guides are coming soon. Visit the guides page.