Mortgage Calculator
Use the Mortgage Calculator when you want to see how the figures change under a particular set of assumptions. Enter the values you know, review the result and compare a second scenario if you are weighing an option.
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Last reviewed January 15, 2026 — see our editorial & accuracy policy.
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.
How to use the Mortgage Calculator
Enter the values requested by the tool and start with one realistic example. Read the result together with its unit or label, then change one input at a time if you want to compare options. Keeping a note of the original figures makes the calculation easier to check later.
Use the result as a planning estimate rather than a quote or guarantee. Rates, fees, tax rules and personal circumstances can change the final figure.