Mortgage Calculator

How to Use This Mortgage Calculator

Enter your home price, down payment, interest rate, and loan term to instantly see your estimated monthly mortgage payment. The calculator breaks down your total cost including principal and interest over the life of the loan.

Understanding Your Results

Your monthly mortgage payment includes principal (the amount that reduces your loan balance) and interest (what the lender charges to borrow money). Property taxes, homeowners insurance, and PMI are not included in this calculation but will affect your total monthly housing cost.

Tips for Getting a Better Mortgage Rate

A higher credit score, larger down payment, and shorter loan term can all help you qualify for a lower interest rate. Even a small reduction in your rate can save you tens of thousands of dollars over the life of your loan. Consider getting pre-approved by multiple lenders to compare offers.