Mortgage Calculator

Validate loan affordability by parsing principal, APR, and escrow. Calculate total interest and long-term cost using standard amortization logic.

Home Price

Down Payment

Loan Term

years

Interest Rate

Property Tax

Home Insurance

HOA Fee

Other Cost

Result:

Please configure parameters and execute the action.

About Mortgage Calculator

Use this mortgage calculator to estimate principal and interest payments plus common monthly housing costs. It supports a down payment entered as dollars or percent and optional recurring expenses.

How to Use

Enter home price, down payment, term, and interest rate.

Enter the home price and down payment.
Add loan term and annual interest rate.
Open more options for taxes, insurance, HOA, and other monthly costs.

Examples

Mortgage example

Home price: $400,000
Down payment: 20%
Term: 30 years
Rate: 6.5%

Principal and interest: about $2,023/month

Real-World Usage Scenarios

Down Payment Sensitivity Analysis - Evaluate how shifting from a 10% to a 20% down payment reduces long-term interest liabilities and impacts your monthly debt-to-income ratio.
Comprehensive Monthly Budgeting - Go beyond principal and interest by factoring in HOA fees, property taxes, and insurance to determine the true cost of homeownership.
Loan Term Comparison - Analyze the financial trade-offs between a 15-year and 30-year mortgage to balance lower monthly payments against total interest savings.
Investment Property ROI Modeling - Project monthly cash flow for rental properties by including estimated maintenance and taxes as 'Other Costs' to ensure the investment is viable.

Frequently Asked Questions

Does the interest rate include APR calculation?

The tool uses the annual interest rate for principal and interest calculations. It does not automatically factor in loan origination fees or points typically found in APR.

How are property taxes handled in the result?

Annual property taxes are divided by 12 and added to the 'Total Monthly Payment' to provide a comprehensive estimate of your recurring costs.

Can I calculate interest-only payments?

This calculator is designed for standard amortizing loans where each payment reduces the principal balance over the selected term.

How does the down payment impact the loan amount?

The down payment is subtracted directly from the home price. A larger down payment reduces the total loan amount, which lowers both monthly interest and total debt.

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