Mortgage Payment Calculator

A mortgage payment calculator helps you estimate the monthly cost of a home loan using three core inputs: the loan amount (principal), the interest rate, and the loan term. Even small changes to any of these variables can make a noticeable difference, so a quick calculator is useful for comparing scenarios before you commit to a budget.

This calculator focuses on principal and interest, which is the standard amortized loan payment. It does not include taxes, insurance, or HOA fees unless explicitly listed. That means the result is a clean baseline for the loan itself, not the full monthly housing cost. If you want a complete estimate, you should add your expected property taxes, homeowners insurance, and HOA separately.

You can use the tool to answer questions like: How much does a 0.5% interest change affect my payment? How does a 30-year term compare to a 15-year term? What happens if I borrow a bit less or make a larger down payment? The calculator gives you the monthly payment and can be paired with an amortization view to understand how much of each payment goes toward interest versus principal over time.

The result is an estimate based on the inputs you provide. Real mortgage offers can include points, discounts, or lender-specific fees that affect your effective cost. Use this estimate as a starting point for planning and comparisons, then verify exact numbers with your lender.

If you are buying a home, consider running a few scenarios: your target home price, a conservative rate, and a higher rate to stress-test your budget. That way, you can see how resilient your plan is if rates shift or if your down payment ends up smaller than expected.