Mortgage Calculator
Calculate monthly mortgage payments, total interest, and see a complete cost breakdown.
Mortgage Details
Private Mortgage Insurance is typically required if down payment is less than 20%.
Mortgage Summary
Enter your mortgage details and click Calculate
About Mortgage Calculator
Mortgage Calculator is a free online tool that computes your estimated monthly mortgage payment from five core inputs: home price, down payment, annual interest rate, loan term, and optional costs such as property tax, home insurance, and PMI. It applies the standard amortization formula to give you the principal-and-interest portion of the payment, then adds monthly escrow and insurance amounts so the total reflects what most lenders call your PITI — principal, interest, taxes, and insurance.
The tool is designed for the moments before and during house hunting when you need a fast sanity check: does the asking price fit the budget? How much does dropping from 30 years to 15 years shorten the life of the loan? What happens to the monthly payment if the rate moves half a point? Because the down payment field syncs between dollar and percentage, you can model the same scenario two ways without recalculating manually. PMI is applied automatically whenever the down payment falls below 20%, matching the threshold most conventional lenders use.
All calculations run entirely in your browser. No figures, addresses, or loan details are transmitted to any server, stored in a database, or shared with third parties. The calculator is free to use without sign-up, and there is no limit on how many scenarios you can run.
Key Features
Full PITI breakdown
The result separates principal and interest, property tax, home insurance, and PMI into individual line items so you can see exactly where each dollar in your monthly payment goes.
Synced down payment fields
Enter the down payment as a dollar amount and the percentage updates automatically — or vice versa. Changing the home price recalculates the dollar amount on the fly.
Automatic PMI detection
When the down payment drops below 20% of the home price, the tool adds PMI to the monthly total using the rate you specify. When you cross 20%, PMI is removed immediately.
Four loan term options
Switch between 10, 15, 20, and 30-year fixed terms with a single click. The monthly payment and lifetime interest totals update instantly so you can compare payoff timelines side by side.
Total interest and total cost
Alongside the monthly payment you see the total interest charged over the entire loan term and the total cost of ownership including your down payment — numbers lenders do not always volunteer upfront.
Private and free to use
Every calculation is local to your device. Nothing is uploaded, and the tool requires no account or payment.
How to Use
Enter Home Details
Input the home price and your down payment amount. The calculator automatically syncs the dollar amount and percentage fields for convenience.
Set Loan Terms
Enter the annual interest rate and choose your loan term from 10, 15, 20, or 30 years. The default is a 30-year fixed rate mortgage.
Add Extra Costs
Optionally add yearly property tax, home insurance, and PMI rate. PMI is automatically included when the down payment is less than 20%.
Calculate
Click Calculate to see your monthly payment, a detailed monthly breakdown, total interest, and total cost of the mortgage over its full term.
Example
A $400,000 home with 20% down, 6.5% rate, 30-year term, $4,800/year property tax, and $1,200/year insurance. PMI does not apply because the down payment meets the 20% threshold.
Home Price: $400,000
Down Payment: $80,000 (20%)
Interest Rate: 6.5% per year
Loan Term: 30 years
Property Tax: $4,800/year
Home Insurance: $1,200/year
PMI: 0.5% (not applied — DP >= 20%)Loan Amount: $320,000
Monthly P&I: $2,022.62
Property Tax: $400.00/mo
Home Insurance: $100.00/mo
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Total Monthly: $2,522.62
Total Interest: $408,142.36
Total Cost: $988,142.36Common Use Cases
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Checking affordability before making an offer
Enter a listing price and your likely down payment to see whether the monthly PITI fits your budget before spending time on viewings, inspections, or lender conversations.
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Comparing 15-year vs 30-year mortgages
Toggle between loan terms to see how a shorter payoff period increases the monthly payment but dramatically cuts total interest — a trade-off specific to home financing that a general loan calculator does not frame as clearly.
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Modeling the cost of a smaller down payment
See exactly how much PMI adds to your monthly bill when you put down less than 20%, and calculate the break-even point where saving longer for a larger down payment actually costs less in total.
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Estimating costs before refinancing
Run your current balance at today's rate to see whether refinancing into a new fixed-rate loan would lower your monthly payment or reduce the total interest remaining on the loan.
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Planning for rate changes during pre-approval shopping
Lenders quote different rates. Enter each quoted rate to see the dollar difference per month and over the loan's lifetime — turning an abstract percentage into a concrete dollar figure that helps you decide whether to pay points.