Mortgage Calculator
Estimate your monthly mortgage payment, total interest, and loan-to-value ratio from home price, down payment, rate and term.
Estimate your mortgage payment
Property tax and insurance are optional annual figures.
Result
Formula used
P&I = L × r × (1+r)n ÷ ((1+r)n − 1)
- L
- Loan amount = home price − down payment
- r
- Monthly interest rate
- n
- Loan term in months
- LTV
- Loan amount ÷ home price × 100
How to use this calculator
- Enter the home price and your planned down payment.
- Enter the interest rate and loan term.
- Optionally add annual property tax and home insurance for a fuller monthly estimate.
- Press Calculate.
FAQ
Frequently asked questions
What is included in this mortgage payment estimate?
The principal and interest payment, plus optional monthly property tax and home insurance if you enter annual figures for them.
How is the monthly mortgage payment calculated?
Using the standard loan amortization formula on the loan amount (home price minus down payment), the annual interest rate, and the loan term in months.
What is loan-to-value (LTV)?
LTV is the loan amount divided by the home price, expressed as a percentage. A lower LTV generally means a larger down payment relative to the home price.
Does this include private mortgage insurance (PMI)?
No. PMI varies by lender and down payment size, so it isn't included automatically — add it to the optional insurance field if you know the amount.