Principal
The amount you owe on the home loan.
Free Mortgage Calculator
Estimate your monthly mortgage payment, including principal, interest, property taxes, and home insurance. Plan your home buying journey with confidence.
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Mortgage Calculator
Enter your home details below to calculate your monthly mortgage payment.
Your Estimated Monthly Payment
$2,522.62
Principal & Interest
$2,022.62(80.2%)
Property Tax
$300.00(11.9%)
Home Insurance
$200.00(7.9%)
Total Loan Amount
$320,000
| Loan amount | $320,000.00 |
|---|---|
| Monthly principal & interest | $2,022.62 |
| Monthly property tax | $300.00 |
| Monthly home insurance | $200.00 |
| Number of payments | 360 |
| Total interest paid | $408,142.36 |
| Total of all payments | $908,142.36 |
This is an estimate. Your actual payment may vary based on your lender and other factors.
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What Is a Mortgage Calculator?
A mortgage calculator helps you estimate your monthly mortgage payment based on the home price, down payment, interest rate, loan term, property taxes, and homeowners insurance. It gives you a clear picture of what you can expect to pay each month and helps you plan your budget before buying a home.
How Is Your Mortgage Payment Calculated?
Your monthly mortgage payment typically includes four main components:
Interest
The cost of borrowing the money.
Property Tax
Local taxes based on your home's value.
Home Insurance
Protects your home and belongings.
Mortgage Calculator Guide
Learn how to use a mortgage calculator, understand your monthly payments, and get tips for a smarter home purchase.
Frequently Asked Questions
Many conventional loans ask for 5–20% of the home price, while some government-backed programs allow as little as 3–3.5%. Putting down 20% lets you avoid private mortgage insurance (PMI) and lowers your monthly payment.
A good rate depends on the market, your credit score, your down payment, and the loan term. Compare offers from several lenders on the same day, since rates change daily, and look at the APR rather than the headline rate.
From application to closing usually takes about 30–45 days. Getting pre-approved first, and sending your documents quickly, is the best way to keep the process moving.
Yes, it can. Property tax is based on your home's assessed value and your local tax rate, so both reassessments and rate changes can raise or lower your bill from one year to the next.
Usually yes. Most lenders collect property tax and insurance with your monthly payment and hold them in an escrow account, then pay the bills on your behalf when they come due.