Mortgage Calculator
Calculate your monthly mortgage payments and visualize the total cost of your home loan over time.
- NOT FINANCIAL ADVICE
- EDUCATIONAL USE ONLY
- ESTIMATES ONLY
- INCLUDES TAX & INSURANCE
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Advanced Options (Taxes & Insurance) ▼
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Monthly Principal & Interest
$0.00
Estimated Total Monthly
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Includes P&I, Taxes, and Insurance.
Total Principal
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Total Interest
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Total Loan Cost
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How is a Mortgage Calculated?
A mortgage payment is primarily determined by the loan amount, the interest rate, and the length of the loan. Most mortgages use an amortization schedule, meaning you pay a fixed amount each month, but the portion going toward interest vs. principal shifts over time.
Key Terms
- Principal: The actual amount of money you borrowed to buy the home.
- Interest: The cost charged by the lender for borrowing the money.
- PMI: Private Mortgage Insurance, typically required if your down payment is less than 20% of the home price.
- Escrow: Often includes property taxes and homeowners insurance collected by the lender.