What this mortgage calculator estimates
It calculates a fixed principal-and-interest payment from the loan amount, annual interest rate, and term. Optional recurring housing-cost assumptions are then added separately for a broader monthly estimate.
Money & Finance · Fixed-rate mortgage
Mortgage Calculator
Estimate a fixed-rate mortgage payment from home price, down payment, interest rate, and term. Add your own tax, insurance, HOA, and mortgage-insurance assumptions, then view amortization or test extra principal payments.
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Enter a home price, down payment, rate, and term to calculate a scenario.
More local exports
| Month | Opening balance | Payment | Principal | Extra principal | Interest | Ending balance |
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What may be in the monthly housing cost
Principal and interest are loan payments. Property taxes, homeowners insurance, mortgage insurance, and HOA dues can also affect a household budget. This app uses only the amounts you enter and does not infer local rates or eligibility.
How amortization works
Each modeled payment first calculates interest from the opening balance. The remaining scheduled loan payment reduces principal, so the interest share generally falls as the balance declines.
Extra mortgage payments
Optional extra payments are applied to principal in this model. Monthly extra applies every payment, annual extra applies on payments 1, 13, 25 and so on, and one-time extra applies on payment 1.
Worked example
A $400,000 home with 20% down creates a $320,000 loan. At 6.5% for 30 years, principal and interest are about $2,022.62 per month. With $6,000 annual property tax and $1,800 annual insurance, the modeled monthly housing estimate is about $2,672.62 before HOA or mortgage insurance.
Important limits
This fixed-rate model does not fetch rates, determine loan approval or affordability, calculate APR, points, closing costs, ARM changes, tax deductions, mortgage-insurance rules, escrow rules, or prepayment penalties. Review actual loan documents before making consequential decisions.