Mortgage Calculator
Estimate monthly mortgage payments including principal, interest, taxes, and insurance.
Region: Global
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Mortgage payments by loan amount
All mortgage payment tables →Quick Tip
Enter the home price and your deposit (down payment) as a percentage.
About This Tool
Why use Mortgage Calculator?
A mortgage calculator turns a home price, deposit, interest rate and loan term into the monthly payment you will actually budget for. This one also adds property tax and home insurance, so you can see the full monthly housing cost rather than principal and interest alone.
The principal and interest part uses the standard amortization formula M = P × r(1 + r)^n ÷ ((1 + r)^n − 1), where P is the loan amount, r is the monthly interest rate and n is the number of monthly payments. For example, a 400,000 home with 20% down leaves a 320,000 loan; at 6.5% over 30 years that is about 2,022.62 a month before tax and insurance.
Key Benefits
Full monthly cost
Principal, interest, property tax and insurance are shown separately so you know where each part of the payment goes.
Total interest over the loan
See how much the loan costs in interest across the whole term, not just the monthly figure.
Instant what-if scenarios
Move the sliders to compare rates, terms and deposits without re-entering anything.
How to use Mortgage Calculator
- 1
Enter the home price and your deposit (down payment) as a percentage.
- 2
Add the interest rate you have been quoted and the loan term in years.
- 3
Enter the yearly property tax rate and annual home insurance, or set them to 0 if they are not paid with your mortgage.
- 4
Compare the total monthly payment and total interest, then try a shorter term or bigger deposit.
Best use cases
Use mortgage calculator during loan comparison when you need a quick answer without installing software.
It fits savings planning workflows where speed and clear outputs matter.
The tool is also useful for budget review when you want results in one place.
Because the interface is focused, it helps reduce manual busywork across financial planning and numeric decision making.
Mortgage Calculator FAQs
How is a monthly mortgage payment calculated?
The principal and interest payment uses the amortization formula M = P × r(1 + r)^n ÷ ((1 + r)^n − 1). Property tax and insurance are then divided by 12 and added to get the total monthly cost.
How much does a shorter mortgage term save?
A lot. A 250,000 loan at 6.5% costs about 1,580 a month over 30 years with roughly 318,900 in total interest. Over 15 years the payment rises to about 2,178, but total interest falls to roughly 142,000.
How much deposit should I put down?
A larger deposit lowers the loan amount, the monthly payment and often the interest rate. In many countries a deposit of 20% or more also avoids mortgage insurance.
Does this include closing costs?
No. Closing costs, transfer taxes, legal fees and moving costs are paid upfront and are not part of the monthly payment, so budget for them separately.
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