Mortgage calculator

The Mortgage Calculator is a financial tool designed to help individuals estimate their monthly mortgage payments and understand the costs associated with a mortgage loan. It takes into account factors such as the loan amount, interest rate, loan term, and down payment to provide an estimate of the monthly payment amount.

Mortgage Calculator

Monthly Payment:



  • Loan Amount ($): Enter the total loan amount you plan to borrow in the "Loan Amount ($)" field. This represents the amount of money you will borrow to purchase a home.
  • Interest Rate (%): Input the annual interest rate for the mortgage loan as a percentage in the "Interest Rate (%)" field. This represents the interest rate applied to the loan.
  • Loan Term (Years): Enter the number of years for the loan term in the "Loan Term (Years)" field. This is the duration over which you will repay the loan.
  • Down Payment ($): If you plan to make a down payment, enter the amount of the down payment in the "Down Payment ($)" field. The down payment is the initial payment you make toward the home's purchase price.
  • Property Taxes ($): Enter the estimated annual property tax amount in the "Property Taxes ($)" field. Property taxes can vary based on your location and the value of the property.
  • Home Insurance ($): Input the estimated annual home insurance cost in the "Home Insurance ($)" field. This represents the cost of insuring the property.
  • Private Mortgage Insurance (PMI) (%): If your down payment is less than 20% of the home's purchase price, you may be required to pay PMI. Enter the PMI rate as a percentage in the "PMI (%)" field.
  • Calculate Mortgage: Click the "Calculate Mortgage" button to initiate the calculation.

View the Result:

  • Monthly Mortgage Payment: This is the estimated amount you will pay each month for your mortgage, including principal, interest, property taxes, home insurance, and PMI (if applicable).
  • Total Interest Paid: The calculator will estimate the total interest you will pay over the life of the loan.
  • Total Cost of Mortgage: This represents the total cost of the mortgage, including both the principal amount borrowed and the interest paid over the loan term.


  • Loan Amount: This is the total amount you plan to borrow for the mortgage.
  • Interest Rate: Enter the annual interest rate for the mortgage loan. This rate determines how much interest you'll pay on the loan.
  • Loan Term: This is the number of years over which you'll repay the loan.
  • Down Payment: The down payment is the initial amount you pay toward the purchase price of the home. A larger down payment can reduce your monthly mortgage payment and may eliminate the need for PMI.
  • Property Taxes: Property taxes are assessed by local governments and can vary significantly based on your location.
  • Home Insurance: Home insurance protects your property and belongings. The cost can vary based on factors like location and coverage.
  • PMI: Private Mortgage Insurance is typically required when the down payment is less than 20% of the home's purchase price.

Using this Mortgage Calculator can help you estimate your monthly mortgage payments and understand the financial aspects of purchasing a home. It's a useful tool for prospective homebuyers and those looking to explore different mortgage scenarios.