About the mortgage calculator
Buying a home is usually the largest purchase of a lifetime. This tool estimates your monthly mortgage payment after your down payment, and shows how much interest you will pay in total. Try different down payments and terms to find a payment that fits your budget.
Formula used
Loan = Price − Down payment. Monthly payment uses the standard amortization formula.
How to use
Fill in the fields above and the results update instantly. Change any value to compare scenarios. Results are estimates for planning and education and may differ from figures provided by banks, tax offices or doctors.
Frequently asked questions
How much should I put down?
Many lenders ask for 10–20%. A larger down payment lowers the loan and the interest paid.
Are taxes and insurance included?
No. Property tax, insurance and fees are extra and vary by location.