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Mortgage planning, simplified

See the full picture of your home loan.

Adjust the numbers and instantly understand your monthly payment, lifetime cost, and how every payment builds equity.

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Free mortgage calculator guide

Calculate your true monthly mortgage payment

Use this mortgage calculator to estimate principal and interest, property taxes, homeowners insurance, and HOA dues in one clear monthly payment. Explore different home prices, down payments, loan terms, and interest rates before you speak with a lender.

How to use this mortgage calculator

  1. Enter the home price and your planned down payment.
  2. Set the loan term and interest rate using the term slider and numeric rate field.
  3. Add estimated escrow costs for annual property taxes, annual homeowner's insurance, and monthly HOA fees.
  4. Review your total monthly payment, principal-and-interest amount, escrow breakdown, total interest, and payoff date.
  5. Explore the amortization schedule to see how each payment reduces your balance, then save scenarios locally or download the schedule.

For the most useful estimate, use current figures from your lender, county tax office, insurance quote, and HOA documents. Results are estimates and are not a loan offer.

Example: $400,000 home

With a 20% down payment, a 30-year loan, and a 6.50% interest rate, the calculator shows your estimated principal-and-interest payment plus escrow costs. Adjust the assumptions to match your neighborhood and budget.

What is included?

Your estimate includes loan principal, interest, annual property taxes, annual homeowners insurance, and monthly HOA fees. Taxes and insurance are estimates and can vary by location and provider.

Your loan details

Start with an estimate. You can refine it anytime.

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Total monthly payment
$2,022 / mo
● Includes escrow estimates
Principal + interest$2,022
Loan amount$320,000
Total loan payments (P&I)$728,078
Total interest$408,078
Payoff dateSep 2056

Lifetime payment breakdown

Principal · $320,000Interest · $408,078

Monthly payment breakdown

Principal + interest$2,022
Property taxes$400
Homeowner's insurance$150
HOA fees$0
Total estimated payment$2,572

Amortization schedule

See how each payment is split between principal and interest.

360 payments
PaymentPayment amountPrincipalInterestRemaining balance
Your payment breakdown will appear here.

Saved scenarios

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No saved scenarios yet.

Mortgage calculator FAQs

What does escrow mean in a mortgage payment?

Escrow is the portion of your monthly payment set aside for recurring property taxes and homeowners insurance. Some lenders also collect other property-related costs.

How does a down payment change my payment?

A larger down payment reduces the loan principal, which generally lowers principal-and-interest payments and total interest over the life of the loan.

Are HOA fees included in mortgage payments?

HOA fees are usually paid separately, but adding them here gives you a more realistic estimate of your total monthly housing cost.

What is a good down payment for a first-time homebuyer?

The right down payment depends on your budget, loan program, cash reserves, and closing costs. A larger down payment may reduce the loan balance, while some qualified buyers may use programs with lower down-payment requirements.

What credit score do I need to buy a home?

Minimum credit-score requirements vary by lender and mortgage program. Your score can affect eligibility, interest rate, mortgage insurance, and borrowing costs, so compare official lender estimates rather than relying on one general number.

How much house can I afford as a first-time buyer?

Start with the full monthly housing cost—not only principal and interest. Include taxes, homeowners insurance, HOA dues, mortgage insurance if applicable, debts, emergency savings, and closing costs when setting a comfortable budget.

Explore practical guides from the MortgageWise blog to better understand the numbers behind your home-loan estimate.