Estimate your monthly mortgage payment, total interest paid, and total cost of your loan based on the home price, down payment, interest rate and loan term.
This tool uses the standard fixed-rate amortization formula to calculate your monthly principal-and-interest payment. It does not include property taxes, homeowners insurance, PMI, or HOA fees, which vary by location and lender — your actual total monthly housing payment will typically be higher than the number shown here.
Does this include taxes and insurance?
No — this shows principal and interest only. Ask your lender for a full payment estimate (often called "PITI": principal, interest, taxes, insurance) before budgeting your final monthly cost.
How much should my down payment be?
20% avoids private mortgage insurance (PMI) on conventional loans in the US, but many buyers put down less. A larger down payment lowers your loan amount, monthly payment, and total interest paid over the life of the loan.