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What will my home payment be?

Mortgage calculator. See the full monthly cost.

Enter the home price, down payment, rate, and term. See the monthly payment with taxes and insurance, plus a look at how it fits your income.

Open the calculator

Results are estimates for planning. They are not financial, tax, or legal advice.

From home price to monthly payment.

Work through three groups of inputs. The results update as you type.

1

Enter the home and loan details

Add the home price and the down payment, as a dollar amount or a percent. Then set the interest rate, pick a 15, 20, 25, or 30 year term, and choose a loan type.

2

Add taxes, insurance, PMI, and HOA

Enter the yearly property tax and home insurance, and the monthly PMI and HOA fees. Leave PMI at $0 to let the calculator estimate it when it applies.

3

Add your income and debts

Enter your yearly income and your other monthly debt payments. These are used for the affordability numbers.

4

Read the results

See the total monthly payment and its parts, the affordability ratios, the loan summary, and a rate comparison.

How the estimate is worked out.

The loan amount is the home price minus the down payment. The principal and interest payment uses the standard fixed-payment formula with your rate and term. Yearly property tax and home insurance are divided by 12 and added, along with PMI and HOA fees, to give the total monthly payment.

If you leave PMI at $0, the loan type is Conventional, and your down payment is under 20% of the price, the calculator estimates PMI at 0.5% of the loan amount per year. The loan type choice does not change the rate or any other math. Enter your own PMI amount if you know it.

The affordability section compares the monthly payment to your monthly income. The housing ratio is the payment divided by income. The debt-to-income ratio adds your other monthly debts. The required income line divides your yearly housing cost by 28%. Labels like Excellent, Good, Moderate, and Stretch come from fixed cutoffs in the calculator. The payoff date counts forward from today by the number of years in the term.

Common questions

What is included in the total monthly payment?
It adds principal and interest, one twelfth of the yearly property tax, one twelfth of the yearly home insurance, PMI, and HOA fees.
How does the down payment percent work?
The dollar amount and the percent stay in sync. Change one and the other updates based on the home price.
When does the calculator add PMI?
Only when you leave PMI at $0, choose Conventional, and put down less than 20%. It then estimates PMI at 0.5% of the loan per year. Otherwise it uses the amount you typed.
What do the debt-to-income and housing ratios mean?
The housing ratio is your monthly housing payment as a share of monthly income. The debt-to-income ratio adds your other monthly debts. The calculator labels each one using fixed cutoffs.
What does the rate comparison show?
It shows the principal and interest payment at your rate, half a point lower, half a point higher, and one point higher, so you can see how the payment moves.
Does the loan type change the result?
Only through the PMI estimate. Picking FHA, VA, or USDA turns off the automatic PMI estimate. It does not apply program rules or fees.

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