Becoming a homeowner: simplified
Our free mortgage calculator makes estimating your monthly mortgage payments easy. Just fill the details and the terms of your mortgage—including insurance, tax and interest to get your monthly payment. Our calculator also provides you with a convenient amortization schedule, so you can get a bigger picture of your monthly and yearly payments.
Purchase Price: The cost of your home at the time of purchase
Term: Length of your loan
Property Tax: The amount you expect to pay annually on property taxes, divided by 12 and added your monthly mortgage payment
Property Insurance: The amount you expect to pay annually on property insurance, divided by 12 and added to your monthly mortgage payment
Down Payment: The amount you pay upfront on your home, which is deducted from future mortgage payments
Interest Rate: Percentage of interest applied to your mortgage
PMI: If you pay less than 20% down on your home, lenders require private mortgage insurance as a part of a conventional loan. This protects lenders in case you end up in foreclosure. PMI is calculated as a percentage of the original loan that you pay annually.
Start date: The date your mortgage begins