Calculate your monthly mortgage payments with our mortgage calculator:

Enter the house price, interest rate, length of the loan, your down payment, insurance and taxes to see how much your monthly mortgage payment will be:

Mortgage Calculator

Monthly Insurance & Taxes


Total Monthly Payments
Including Taxes, Insurance, and Mortgage Insurance if applicable


Buying a home is an exciting venture, but it often comes with a lot of financial considerations. One crucial aspect is understanding how a mortgage works and how much it will cost you over time. This is where a mortgage calculator becomes your best friend.

Toy house and calculator on table close-up

What is a Mortgage Calculator?

A mortgage calculator is a handy tool that helps you estimate your monthly mortgage payments based on various factors like loan amount, interest rate, and loan term. It takes the complexity out of the math and gives you a quick snapshot of what to expect.

Key Components of a Mortgage Calculator

  1. Loan Amount
    This is the total amount of money you’re borrowing to buy your home. It includes the property’s purchase price and any additional costs, minus your down payment.
  2. Interest Rate
    The interest rate is the cost of borrowing money. It’s expressed as a percentage and greatly influences your monthly payments. A lower interest rate generally means lower monthly payments and less interest paid over the life of the loan.
  3. Loan Term
    The loan term is the number of years you’ll be repaying the loan. Common terms are 15, 20, or 30 years. Shorter terms usually mean higher monthly payments but less interest paid overall.
  4. Property Taxes and Home Insurance
    Your monthly mortgage payment may also include property taxes and home insurance. The calculator allows you to estimate these costs based on your location and the value of your home.

How to Use a Mortgage Calculator

Input Your Loan Details: Start by entering the loan amount, interest rate, and loan term into the calculator.

Include Additional Costs: If applicable, add estimated property taxes and home insurance. These costs can vary, so it’s helpful to get accurate figures.

Calculate Your Monthly Payment: Hit the calculate button, and voila! The calculator will generate an estimated monthly payment for you.

Why Use a Mortgage Calculator?

  1. Budget Planning
    Knowing your monthly mortgage payment helps you budget more effectively. It allows you to assess if you can comfortably afford the home you’re considering.
  2. Compare Scenarios
    Play around with different loan amounts, interest rates, and terms to see how they affect your payments. This helps you find the best combination that suits your financial goals.
  3. Avoid Surprises
    Understanding the financial commitment upfront helps you avoid unexpected financial surprises down the road. You’ll have a clear picture of what to expect each month.


a mortgage calculator is a simple yet powerful tool that empowers you to make informed decisions when it comes to buying a home. By understanding the key components and using the calculator wisely, you can embark on your homeownership journey with confidence and financial clarity.

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