Use this free mortgage calculator to estimate your monthly house payment. Enter the home price, your down payment, the interest rate you were quoted, and your loan term. Add property tax, homeowners insurance and HOA dues to see the full payment, not just principal and interest.
Mortgage Calculator
Estimate your monthly house payment, including taxes and insurance.
Example numbers only — enter your own rates and amounts. Results are estimates for education, not an offer or financial advice.
How your mortgage payment is calculated
Most U.S. home loans are fixed-rate, fully amortizing loans. Each month you pay the same principal-and-interest amount. Early payments are mostly interest; later payments are mostly principal. Property taxes and insurance are usually collected by your lender through an escrow account and added on top.
Ways to lower your monthly payment
- Put more money down. A larger down payment shrinks the loan, and 20% down usually avoids private mortgage insurance (PMI) on a conventional loan.
- Improve your credit score before applying. Borrowers with higher scores are typically offered lower rates.
- Compare several lenders. Rates and fees can differ noticeably between lenders on the same day.
- Consider the loan term. A 30-year loan has a lower payment; a 15-year loan costs far less interest overall.
Related guides: Best Mortgages, First-Time Homebuyer Programs, FHA Loans.