Mortgage Calculator

How this mortgage calculator works

Enter the home price, your down payment, the interest rate and the loan term to get an estimated monthly payment, split into principal & interest plus an allowance for property tax and homeowners insurance. The calculator also builds a year-by-year amortization schedule so you can see how your balance shrinks over time and how much of each payment goes toward interest versus principal in the early years versus the later years of the loan.

A larger down payment reduces your loan amount and can help you avoid private mortgage insurance (PMI) on conventional loans, while a shorter term usually means a higher monthly payment but far less interest paid over the life of the loan.