Mortgage Calculator

Mortgage Calculator — Monthly Payment & Schedule

Calculate your monthly mortgage payment, total interest, and view a full amortization schedule with payment chart.

Mortgage Calculator

Home Price ($)

Down Payment ($)

Loan Term (years)

Annual Interest Rate (%)

Annual Property Tax ($)

Annual Home Insurance ($)

Monthly Payment

Principal & Interest

Amortization Schedule

Mortgage FAQs

How is the monthly mortgage payment calculated?

The formula is M = P[r(1+r)^n]/[(1+r)^n-1], where P is principal, r is monthly interest rate, and n is number of payments. This gives the principal and interest portion only — taxes and insurance are added on top.

What is a good down payment percentage?

20% is the traditional recommendation to avoid Private Mortgage Insurance (PMI). However, many loan programs accept 3–10% down. A larger down payment means lower monthly payments and less total interest.