Mortgage Calculator

Use the home loan calculator to estimate your total mortgage payment, including taxes and insurance. Simply enter the price of the home, your down payment, and details about the home loan, to calculate your mortgage payment, schedule, and more.
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Your mortgage payments over 30 years will add up to $0.

Terms to Know

Down Payment

Most people hear “20% down,” but the truth is many loan programs allow much less, sometimes as low as 3.5% (or 0% with a USDA loan for qualified buyers). Your down payment simply reduces the total amount you’re borrowing, which means the more you put down, the lower your monthly payment will be. And if a higher price point fits your goals, a larger down payment can help you get there.

Loan Term

Your loan term plays a big role in your monthly payment. The calculator lets you compare options like a 30-year or 15-year fixed loan so you can see what fits your budget and long-term plans.

Loan Type

There are a few different loan types, but the two most common are fixed-rate and adjustable-rate mortgages (ARMs). A fixed-rate loan keeps the same interest rate for the life of the loan — predictable, steady, and easy to plan for. An ARM starts with a lower rate for a set number of years, then adjusts annually. For example, a 5/1 ARM locks in your rate for the first five years and can change after that. The biggest advantage of an ARM is that lower initial rate, which can be helpful depending on your goals and timeline.

Interest Rate

This number comes pre-filled with the current average mortgage rate. Your actual rate will depend on things like your credit, loan type, and down payment, but this gives you a solid starting point.

Property Tax Rate

The calculator includes an estimate for property taxes based on the home’s value. If you already know your area’s tax rate or want to adjust it, you can easily edit that in the advanced options.

Home Insurance

Homeowners insurance is usually required by your lender and protects both you and your home. The calculator includes an estimate, but you can adjust this number in the advanced settings to fit your specific quotes or needs.

HOA Fees

If the home is part of an HOA, there may be monthly, quarterly, or annual fees that help maintain the neighborhood or shared amenities. You can include those here so your payment estimate is accurate and reflects the true cost of ownership.