🏠 Mortgage Calculator
Enter your home price, down payment, rate and term
How is a Mortgage Payment Calculated?
Your monthly mortgage payment consists of principal (paying down the loan balance), interest (the cost of borrowing), property taxes, and homeowner's insurance — often called PITI. Our mortgage calculator breaks all of these down so you can see exactly where your money goes each month.
The interest rate has a huge impact on your total cost. On a $280,000 loan, the difference between a 5% and 7% rate over 30 years is over $100,000 in extra interest. This is why even small rate differences matter a lot when choosing a mortgage.
This calculator provides estimates only. Actual mortgage terms, rates, and costs vary by lender, credit score, and loan type. Always consult a licensed mortgage professional before making home buying decisions.