Calculate your monthly mortgage payment including principal, interest, taxes, and insurance.
This mortgage calculator helps you estimate your monthly home loan payment. Enter your home price, down payment, loan term, and interest rate to see your monthly payment breakdown including principal, interest, property taxes, and homeowners insurance.
The calculator also shows you the total amount you'll pay over the life of the loan and how much of that goes toward interest versus principal.
Your monthly mortgage payment typically consists of four main components, often referred to as PITI:
The purchase price of your home directly impacts your loan amount and monthly payment. A higher home price means a larger loan and higher monthly payments.
A larger down payment reduces your loan amount and can help you avoid private mortgage insurance (PMI). Most lenders recommend at least 20% down to avoid PMI.
Your interest rate significantly affects your monthly payment and total interest paid. Even a small difference in rate can save or cost you thousands over the loan term.
Common loan terms are 15 or 30 years. A shorter term means higher monthly payments but less total interest paid. A longer term means lower monthly payments but more interest over time.
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