Mortgage Calculator - Home Loan Planner

Estimate your monthly mortgage payments, total interest, and see a detailed amortization schedule. Plan your home purchase with confidence by including property taxes, insurance, and HOA fees.

Calculate Your Mortgage

Home Price ($)

Down Payment ($)

Enter 20% or more to avoid PMI

Annual Interest Rate (%)

Loan Term (Years)

Annual Property Tax ($)

Annual Home Insurance ($)

Annual PMI (%) - Optional

Typically 0.3% - 1.5% if down payment < 20%

Monthly HOA Fees ($) - Optional

Your Mortgage Summary

Enter home details to calculate your mortgage

Mortgage Insights & Tips

Understanding Your Loan

Principal vs. Interest: In the early years of your mortgage, a larger portion of your payment goes towards interest. As the loan matures, more of your payment goes towards reducing the principal balance.

Loan Term Impact: A 15-year mortgage has higher monthly payments but significantly less total interest paid compared to a 30-year mortgage. Choose a term that balances affordability with total cost.

Escrow Account: Lenders often set up an escrow account to collect property taxes and home insurance premiums as part of your monthly payment, ensuring these are paid on time.

Smart Home Buying Tips

Save for a Larger Down Payment: Aim for 20% or more to avoid PMI and potentially secure a lower interest rate.

Improve Your Credit Score: A higher credit score can qualify you for better interest rates, saving you tens of thousands over the loan term.

Factor in All Costs: Remember to budget for closing costs, moving expenses, and ongoing maintenance in addition to your mortgage payment.