Mortgage Calculator
Estimate your monthly mortgage payment, including property tax and home insurance, and see how much interest you will pay over the full term.
How the mortgage calculator works
Your monthly payment has two main parts: principal (the money you borrowed) and interest (the cost of borrowing). The calculator applies the standard amortization formula to spread the loan across all payments, then adds an estimated monthly amount for property tax and insurance, which many lenders collect into an escrow account.
Tips to lower your mortgage payment
- Increase your down payment to reduce the loan amount.
- Compare rates — even 0.5% difference changes thousands over 30 years.
- Choose a shorter term to pay far less total interest.
- Improve your credit score before applying for better rates.
This tool provides estimates for informational purposes only and is not financial advice.