Real Estate
Mortgage Payment Calculator
Monthly principal and interest from price, down payment, rate, and term.
Free mortgage payment calculator. Enter the purchase price, down payment, interest rate, and term to get your monthly principal-and-interest payment, total interest, and loan amount.
Principal & interest only (7.00% over 30 yrs). Add taxes, insurance, and HOA for the full monthly cost.
How it works
Enter price and down payment
Input the purchase price and your down payment percentage.
Enter rate and term
Add the interest rate and the loan term in years.
Read your payment
The calculator returns the loan amount, monthly principal-and-interest payment, and total interest over the life of the loan.
Frequently asked
How is a mortgage payment calculated?
Monthly principal and interest = loan × [r(1+r)^n] ÷ [(1+r)^n − 1], where r is the monthly rate (annual ÷ 12) and n is the number of payments (years × 12). This calculator runs that amortization formula for you.
Does this include taxes and insurance?
No — this is principal and interest only. Your full monthly housing cost (often called PITI) adds property taxes, homeowners insurance, and any HOA or PMI. Use the rental cash flow calculator to factor those in for an investment property.
How does the down payment change the payment?
A larger down payment means a smaller loan, which lowers the monthly payment and total interest. This calculator lets you adjust the down-payment percentage to see the trade-off instantly.
What's the difference between rate and APR?
The interest rate drives the payment math; APR also folds in certain loan fees to reflect the true yearly cost. This calculator uses the interest rate for the payment — compare APRs separately when shopping lenders.