Planning to buy a home? Our Mortgage Calculator shows your estimated monthly payment based on the home price, down payment, interest rate, and loan term.
How to Use
- Enter the home price and your down payment
- Set the interest rate and loan term (15 or 30 years)
- See your monthly payment broken down by principal and interest
- Compare scenarios by adjusting the inputs
Common Use Cases
- Home buying: Know what you can afford before house hunting
- Refinancing: Compare current vs new loan terms
- Down payment planning: See how different down payments affect payments
- Rate comparison: Evaluate offers from different lenders
Frequently Asked Questions
Does this include taxes and insurance? This calculator shows principal and interest only. Your actual payment will include property taxes, insurance, and possibly PMI.
What’s the difference between 15 and 30 year terms? A 15-year term has higher monthly payments but much less total interest paid over the life of the loan.
Try our free Mortgage Calculator now.
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