Loan payment
Principal and interest are calculated using the loan amount, annual interest rate, and selected loan term.
Free Mortgage Calculator
Mortgage Payment Calculator
Estimate principal and interest, property taxes, homeowners insurance, mortgage insurance, HOA fees, and the likely total monthly housing payment.
Step 1 · Enter loan details
Estimate the monthly mortgage payment
Use the expected home price, down payment, interest rate, loan term, taxes, insurance, and other recurring housing costs.
What the calculator includes
See more than principal and interest.
A mortgage quote may focus on the loan payment, but the amount leaving the household budget can also include taxes, insurance, mortgage insurance, and association fees.
Housing add-ons
Annual taxes and homeowners insurance are converted to monthly amounts, then combined with monthly mortgage insurance and HOA fees.
Long-term interest
The calculator estimates total interest across the full loan term when payments remain fixed and are made as scheduled.
Method and privacy: Calculations run in the browser using a standard fixed-rate amortization formula. The page can estimate PMI, compare dollar and percentage inputs, include extra principal, and build a year-by-year schedule. Entries are not sent to MegaTools.tools or saved to an account by this page.
Helpful next steps
Move from payment estimate to a better home decision.
Check how the payment fits the budget
Compare monthly income, debts, down payment, and ownership expenses before choosing a target price.
Home affordability calculator↗
Estimate cash needed at closing
Review common buyer expenses beyond the down payment, including lender, title, prepaid, and settlement costs.
Closing cost estimator↗
Review mortgage and insurance options
Future partner comparisons can appear here after reputable programs are selected and disclosures are finalized.
Comparison resources↗
Some future recommendations may use affiliate links. Paid relationships should be disclosed clearly and never affect calculator results.
Related home finance tools
Continue the calculation.
Common questions
Mortgage payment calculator questions.
Does this calculator include property taxes and insurance?+
Yes. Enter annual property taxes and homeowners insurance, and the calculator converts both to monthly amounts. Mortgage insurance and HOA fees can also be added.
What is included in principal and interest?+
Principal reduces the loan balance. Interest is the cost charged by the lender. The calculator estimates both using a fixed-rate amortization formula.
Why might the lender quote be different?+
Actual payments can differ because of lender fees, escrow rules, changing taxes or insurance, mortgage insurance details, rate locks, loan type, credit, and property-specific costs.
How does an extra monthly payment affect the loan?+
Extra principal can reduce the balance faster, shorten the payoff period, and lower total interest. The calculator updates the estimated payoff time and amortization schedule when an extra amount is entered.
Does this tool save my financial information?+
No account or server-side saving is built into this page. Calculations run in the browser during the current session.