Mortgage Payment Calculator
Estimate mortgage principal and interest plus optional monthly tax and insurance.
- Last reviewed
- August 26, 2026
- Cost
- Free to use
- Data
- Runs in your browser
- Reviewed by
- Anton Jonson
Mortgage Payment Calculator
Methodology
How this calculator handles inputs
This calculator uses the values you enter above and applies the formula explained in the guide below. Results update in the browser and are intended for quick planning, comparison, and sanity-checking.
- Use consistent periods, currencies, and units across inputs.
- Review any assumptions before using the result in a decision.
- Recalculate when rates, prices, tax rules, or business terms change.
Important note
This tool provides general planning information only. It is not tax, legal, financial, accounting, or investment advice. Check the current rules for your location and speak with a qualified professional before making a high-stakes decision.
Guide
How it works
Use this calculator to estimate a mortgage payment from home price, down payment, interest rate, term, property tax, and insurance. It separates principal and interest from the broader estimated monthly payment.
What this calculator does
The mortgage payment calculator estimates housing loan payments.
It uses:
- home price
- down payment
- interest rate and term
- monthly tax and insurance
The result shows loan amount, principal and interest payment, and estimated monthly payment.
How to use the mortgage payment calculator
Enter the home price, down payment, annual interest rate, and loan term. Add estimated monthly property tax and insurance if you want a broader monthly housing cost.
For property investment loans, compare this with the Mortgage Repayment Calculator or Loan-to-Value Calculator.
Mortgage Payment Formula
Loan amount = home price - down payment
Principal and interest = P x [r(1+r)^n] / [(1+r)^n - 1]
Example calculation
If:
- Home price = 400,000
- Down payment = 80,000
- Loan amount = 320,000
- Interest rate = 6%
Then:
Loan amount = 400,000 - 80,000 = 320,000
The loan amount is then amortized over the selected mortgage term.
What is a mortgage payment?
A mortgage payment is the regular payment made on a home loan. The principal and interest portion repays the loan, while tax and insurance may be included separately in monthly housing costs.
Some payments may also include mortgage insurance or association fees.
Interpreting your result
Focus on total monthly affordability, not only principal and interest. Taxes, insurance, repairs, and other housing costs can materially affect the budget.
When to use this calculator
Use this calculator when you want to:
- estimate mortgage payment
- test down payments
- compare loan terms
- plan housing budget
Common mistakes
Common mistakes include:
- ignoring tax and insurance
- underestimating maintenance
- comparing payment only
- assuming approval is guaranteed
FAQs
Does this include property tax?
Yes, if you enter a monthly property tax amount.
Does this include insurance?
Yes, if you enter a monthly insurance amount.
What if down payment equals home price?
The loan amount becomes zero, so no mortgage is needed.
Is this financial advice?
No. It is a planning estimate only.
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