Mortgage Calculator
Estimate your monthly mortgage payment with principal, interest, property tax, home insurance and HOA.
What this estimate includes
The monthly total combines principal and interest with the property-tax, home-insurance and HOA inputs you provide. The amortization table shows how the balance changes over time, while closing costs remain a separate upfront estimate rather than being hidden inside the monthly payment.
Check before deciding
Your lender's rate, PMI, escrow setup and final closing costs depend on the loan program, property and borrower. Compare the calculator with the official Loan Estimate and Closing Disclosure before choosing an offer.
Frequently asked questions
How is my monthly home loan repayment calculated?
It uses the standard amortising formula based on your loan amount, annual interest rate and tenure, spreading principal and interest evenly across every month of the term.
What are closing costs?
Closing costs are the one-time fees to finalize your mortgage and transfer ownership — lender/origination fees, title insurance, escrow, appraisal and recording. They typically run 2 to 5 percent of the loan amount and vary by state and lender.
What is PITI?
PITI stands for Principal, Interest, Taxes and Insurance — the four parts most lenders combine into your monthly payment, often collecting taxes and insurance in an escrow account. Add HOA dues on top if your home is in an association.
How much down payment do I need?
Conventional loans often allow as little as 3 to 5 percent down, but putting 20% down lets you avoid private mortgage insurance (PMI) and lowers your monthly payment. FHA, VA and USDA programs have their own rules.
Does a lower interest rate make a big difference?
Yes. Over a 25 to 35 year tenure, even a 0.5% difference in rate can change your total interest by a substantial amount. Try nudging the rate to see the impact on both your monthly payment and total interest.
Should I choose a longer or shorter tenure?
A longer tenure lowers your monthly payment but increases total interest paid. A shorter tenure costs more each month but saves significantly overall. Find a balance that fits your budget.