Mortgage Calculator
Educational estimate · Not financial advice
Estimate a principal and interest payment based on loan amount, interest rate, and term.
Enter your numbers and calculate.
How to use this calculator
Enter the amount financed, rate, and term. Remember that taxes, insurance, HOA dues, and PMI may add to the monthly cost.
Formula and assumptions
The calculator uses a standard fixed-rate amortization formula for principal and interest only.
Example
A buyer can estimate the difference between a 15-year and 30-year loan by changing the term.
Limitations
- Does not include taxes, homeowners insurance, HOA dues, or PMI.
- Rates and closing costs vary by lender.
- Not a loan approval or affordability decision.
This calculator is for general education only. It is not financial, legal, tax, credit, mortgage, or investment advice.
Related resources
Calculator FAQ
Are the results exact?
No. Results are estimates based on the inputs and simplified assumptions.
What should I do after calculating?
Use the result to compare scenarios, then verify current rates, fees, taxes, and terms before making decisions.