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Utilnivo

Finance

Mortgage Calculator

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Estimate monthly mortgage payments from home price, down payment, interest rate, and term. Optionally include property tax, home insurance, and HOA fees for a full monthly breakdown, plus total interest and cost over the loan.

Lenders quote principal and interest from your loan amount, rate, and term. Property tax, homeowners insurance, HOA dues, and mortgage insurance can add hundreds to the monthly bill. Treat the P&I result here as the core loan payment, then add escrows from your Loan Estimate.

Comparing a 15-year and 30-year loan on the same home price shows why many buyers feel stretched on the shorter term even when the rate is lower. Use the calculator to see whether the interest savings justify the higher monthly obligation for your budget.

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Your data never leaves your computer.

What to do next

How to use this tool

1. Enter home price, down payment, APR, and loan term in years. 2. Add optional annual property tax, home insurance, and monthly HOA. 3. Click Calculate mortgage. 4. Review total monthly payment and principal-and-interest split. 5. Enable scenario compare to contrast 15-year vs 30-year, different down payments, or refinance balances (enter remaining loan as home price with $0 down).

Worked example

Example: a $350,000 home with 20% down ($70,000), 6.5% APR, 30-year term, $4,200/year property tax, and $1,800/year insurance → principal and interest near $1,770/month and total housing payment near $2,270/month before PMI—your escrow and rate quote may differ.

When to use this

  • Estimating principal-and-interest before adding taxes and insurance.
  • Comparing 15-year vs 30-year monthly payments on the same loan amount.
  • Testing how a larger down payment lowers the financed balance.
  • Planning a refinance when you know the new rate and remaining balance.

Common examples

  • Buying a $350,000 home with 20% down ($70,000), 6.5% APR, 30 years, $4,200/year tax and $1,800/year insurance → principal and interest near $1,770/month; total housing payment near $2,270/month before PMI.
  • Buying a $500,000 home with 10% down ($50,000), 7% APR, 30 years, $6,000/year tax, $2,400/year insurance, and $150/month HOA → P&I near $2,994/month; estimated total near $3,844/month.
  • First-time buyer: $275,000 home with 5% down ($13,750), 6.75% APR, 30 years, modest tax and insurance → P&I near $1,694/month; total near $2,094/month—PMI often applies below 20% down.
  • $425,000 home with 15% down, 6.75% APR, 30 years → P&I near $2,350/month before tax and insurance.
  • Refinance scenario: $280,000 remaining balance at 5.9% for 25 years → compare to current 6.5% payment on the same balance.

What people search for

Common mistakes

  • Assuming the monthly result includes property tax, insurance, and PMI.
  • Using list price instead of the actual loan amount after down payment.
  • Mixing annual rate with a monthly rate entry field.
  • Ignoring closing costs and escrow when comparing two homes.

Related long-tail tasks

  • mortgage calculator amortization schedule
  • calculate mortgage affordability from income
  • see savings from one extra payment per year
  • compare rent vs buy monthly cost
  • estimate PMI drop-off when LTV reaches 80%

How it works

Enter the home price, down payment, interest rate, and term. The calculator derives the loan amount and uses the standard amortizing loan formula for principal and interest. Optional annual property tax, home insurance, and monthly HOA fees are added to estimate a total monthly payment. Fees, PMI, and taxes beyond your inputs are not included.

Limitations

Monthly payment estimates exclude HOA, PMI changes, escrow adjustments, and property tax reassessments. Not a loan offer or pre-approval.

Privacy and file handling

Your data is processed in your browser and is not uploaded to our server.

Accuracy & methodology

This section documents how the calculator works, what it leaves out, and when results were last reviewed. Figures are educational estimates—not professional advice—and are not labeled "current" unless tied to automatically updated reference data.

Formula source or methodology
Loan amount = home price − down payment. Monthly principal & interest uses the standard amortizing loan payment formula (same as loan calculator). Optional annual property tax, insurance, and HOA are divided by 12 and added to P&I for total monthly housing payment.
Jurisdiction
General mortgage math (not country-specific underwriting rules)
Unit system
Currency for price, down payment, tax, insurance, HOA; years for term; percent for rate
Rounding method
Currency amounts round to two decimal places (half up via Math.round × 100 / 100).
Assumptions
  • Fixed annual interest rate for the full term
  • Level monthly payments (fully amortizing)
  • Down payment is a dollar amount, not a separate percent field
Known omissions
  • Not tax, legal, investment, or lending advice. Confirm material decisions with qualified professionals.
  • Origination fees, points, PMI/MIP, and lender-specific charges unless a field exists
  • Property taxes, insurance, and HOA unless explicitly entered
  • Prepayment penalties and variable or adjustable rates after the initial period
  • Tax deductibility of interest
Test cases (automated)
  • Typical home price, down payment, rate, and term return positive P&I and total interest
  • Down payment greater than home price is rejected
Version & last verified

Logic version 1.0. Content and formulas last verified .

Important notice

Results are estimates for educational purposes and are not financial advice. Taxes, insurance, HOA fees, and lender-specific costs may not be included. Consult a qualified financial professional for personal guidance.

Specialized Mortgage Calculator guides

Explore focused guides for common searches—each page reuses this mortgage calculator with different examples and FAQs.

Related comparisons

Learn how formats and terms differ before you convert or calculate.

Frequently asked questions

What is included in the total monthly payment?

Total monthly payment combines principal and interest with optional monthly shares of property tax, home insurance, and HOA fees.

How is the loan amount calculated?

Loan amount is the home price minus the down payment. The down payment must be less than the home price.

Does this include PMI or closing costs?

No. Results are estimates based on your inputs. PMI, closing costs, and other lender fees are not included.

Part of these workflows

This tool is one step in a longer job. Jump straight to your step or open the full workflow guide.

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