Mortgage Calculator
Adjust the values below to estimate your total monthly payment and see how much house you can afford.
Mortgage Calculator
Estimate your monthly payments
$400,000
$80,000
Estimated Monthly Payment
$2,548
Principal & Interest$2,023
Property Tax$400
Home Insurance$125
Total Estimated$2,548
How to use this calculator
Our mortgage calculator helps you estimate your monthly mortgage payment. It considers the principal and interest of the loan, plus property taxes and home insurance.
- Home Price: The total purchase price of the home.
- Down Payment: The upfront cash you pay toward the home purchase. A 20% down payment avoids Private Mortgage Insurance (PMI).
- Interest Rate: What the lender charges you to borrow the money.
- Loan Term: How long you have to pay off the loan (typically 15 or 30 years).
- Property Tax Rate: The annual property tax as a percentage of your home's value. The national average is around 1.1%.
- Home Insurance: The annual premium you pay for homeowners insurance coverage.
Keep in mind that actual rates and payments will vary based on your credit score, lender, and market conditions.
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