Guide
Understand your US mortgage result
This US mortgage calculator estimates the monthly principal and interest payment, then adds property tax and homeowners insurance assumptions for a fuller monthly housing-cost estimate.
Results are for general information. Review the site disclaimer before using a result for an important decision.
Start with the amount you borrow
The loan amount is the home price minus the down payment you enter. A larger down payment reduces the amount financed and usually reduces the principal and interest payment.
The estimate assumes a fixed rate and regular monthly payments across the selected term. It does not model adjustable-rate changes, points, closing costs, or mortgage insurance unless you account for them separately.
Add taxes and insurance to see a fuller payment
A mortgage payment is often more than principal and interest. Property taxes and homeowners insurance may be collected through escrow or paid separately, but they are still part of the household cost of owning the home.
Enter local estimates when you have them. Property tax rates, insurance premiums, mortgage insurance, HOA dues, and other costs vary by property and location.
Compare the Loan Estimate before deciding
Use the calculator to compare scenarios, then check the lender's written Loan Estimate for the actual monthly payment, cash to close, fees, mortgage insurance, and rate-lock terms.
A lower monthly principal-and-interest payment is not automatically the lower-cost loan. Compare the rate, term, upfront costs, and total monthly payment together.