What share of your income do you actually keep?
Free toolEducational
Mortgage Calculator
Estimate the principal-and-interest payment on a home loan from the price, down payment, rate and term — with a clear note that property taxes, insurance and fees aren't included.
A 20% down payment usually avoids private mortgage insurance.
Assumes a fixed rate for the full term.
Currency
Enter the home price, down payment and rate to estimate your payment.
How it works
The calculator subtracts your down payment from the home price to get the principal, then applies the standard fixed-rate amortization formula to estimate the monthly principal-and-interest payment.
The formula
loan amount = home price − down payment; payment = amortizing P&I
A concrete example
A $350,000 home with $70,000 down (20%) and a 30-year term at 6.5% leaves a $280,000 loan with a monthly principal-and-interest payment of about $1,770.
What this calculator does not tell you
- Property taxes, homeowners insurance, HOA fees and other costs are NOT included and usually add hundreds to a real monthly payment.
- Assumes a fixed rate for the whole term; adjustable-rate and interest-only loans are not modeled.
- This is an educational estimate for planning, not a mortgage quote.
Disclaimer
This calculator provides a general educational estimate based entirely on the values you enter. It is not financial, investment, tax or legal advice, and it is not personalized. Prices, rates and market conditions change. Check with a qualified professional before acting on any estimate. Full disclaimer and our methodology.
Frequently asked questions
Because the estimate includes only principal and interest. Your actual payment typically adds property taxes, homeowners insurance and possibly mortgage insurance, as well as HOA fees if applicable.
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