Real Estate
Mortgage Calculator
Calculate your monthly mortgage payment including principal and interest for any home loan.
Monthly Payment
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How It Works
Monthly mortgage payment uses the amortization formula M = P[r(1+r)^n]/[(1+r)^n-1], where P is the loan amount, r is monthly rate, and n is total payments.
Example
A $350,000 home with $70,000 down at 6.5% for 30 years = ~$1,770/month.
Frequently Asked Questions
Does this include taxes and insurance?
No, this shows principal and interest only. Your actual payment will also include property taxes, insurance, and possibly PMI.
What is a good mortgage rate?
Rates vary by credit score and market conditions. Compare offers from multiple lenders to find your best rate.
How much down payment do I need?
Conventional loans need 3β20%. FHA loans allow 3.5%. Putting 20% down avoids Private Mortgage Insurance (PMI).