Mortgage Calculator
Estimate your monthly mortgage payment in seconds. Enter the home price, your down payment, the interest rate and the loan term, and this calculator returns the monthly principal and interest payment along with the total interest you will pay over the life of the loan.
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Last reviewed January 15, 2026.
Method: Monthly payment uses the standard amortization formula M = P·r(1+r)ⁿ / ((1+r)ⁿ − 1), where r is the monthly rate and n the number of payments.
How it works
The standard monthly payment formula for a fixed rate mortgage is:
M = P × [ r(1 + r)n ] ÷ [ (1 + r)n − 1 ]
where M is the monthly payment, P is the loan amount (price minus down payment), r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments (years × 12). Property tax, insurance and HOA fees are not included in this estimate.