How to use the Mortgage Calculator
Fill in the fields on the left. Results, charts and the breakdown update instantly as you type or move a slider. Pick your country at the top of the page to switch currency.
Formula
Monthly payment = P&I + property tax ÷ 12 + insurance ÷ 12 + PMI + HOA
P&I = P × r × (1 + r)^n ÷ ((1 + r)^n − 1)
PMI applies when the down payment is below 20%.
Frequently asked questions
What is PMI?
Private mortgage insurance protects the lender when your down payment is below 20%. It typically costs 0.3–1.5% of the loan per year and can be removed once you reach 20% equity.
15-year or 30-year mortgage?
A 15-year mortgage has a higher payment but usually a lower rate and far less total interest. A 30-year loan keeps payments low and flexible.
Results are estimates for information only and are not financial, tax or legal advice. Tax rules, interest rates and fees change, so confirm important numbers with your bank, employer or a qualified adviser. Read our disclaimer.