Mortgage Calculator

Calculate your mortgage to estimate your monthly mortgage payments

$
USD
Down Payment
$
USD
%
%
Years

Show Advanced Options

Total Mortgage Amount
$0
Total Interest Paid
$0
Principal & Interest / Month
$0
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Click to generate after every change

How to calculate mortgage using our calculator?

Our mortgage calculator is very easy and simple to use, here's the steps:

  • Insert your home price in "Home Price" field.
  • Insert how much is the down payment in USD or in percent in "Down Payment" field.
  • Choose your mortgage interest rate in "Interest Rate" field.
  • Choose your mortgage term in years in "Mortgage Term" field
  • Click on "Generate Schedule" button to generate an amortized table for your payments, if you want to print the table click on "Print Table" button.

For the advanced options like taxes and fees click on "Show Advanced Options" and follow these steps:

  • If you have to pay property tax per month, insert how much in "Property Tax" field.
  • If you have to pay homeowner's insurance per month, insert how much in "Homeowner's Insurance" field.
  • If you have to pay HOA's fees per month, insert how much in "HOA fees" field.
  • Your taxes and fees will be added to your monthly payment

Frequently asked questions

What Is a Mortgage?

A mortgage is basically a loan from a bank or other financial institution that helps a borrower purchase a home. The difference between mortgage and a loan is that the mortgage is using the home you're buying as collateral, which means if you don't repay the money you have borrowed plus interest the bank or the financial institution will have the right to take your property.

What Down Payment Mean?

Down payment is an initial payment you put towards the price of a home you want to buy, it will reduce the amount of money that you will borrow, the lower the mortgage amount borrowed means lower monthly payments.

What Are Interest Rates?

Almost every mortgage includes interest, the interest is the profit that lenders (i.e Bank) will put depends on your mortgage term and amount.

What Are Property Taxes?

Property taxes are fees paid by real estate owners to a local authority based on the value of your property. Your property taxes are added to your mortgage payment incrementally each month.

What Is Homeowner's Insurance?

Homeowner's insurance are the coverage to repair your home or rebuild it in case of vandalism and theft, fire, weather etc...

What Is HOA?

HOA is a homeowners association is an organization that creates and enforces rules for a community, if you buy a house or a property within HOA's jurisdiction you'll become a member automatically and you're required to pay HOA fees. HOA fees cover Grounds maintenance and landscaping, Snow removal, Trash removal, Electricity and other utilities.