Mortgage Calculator: Monthly Payment and Amortization
Free calculator · clear working
Estimate your monthly mortgage payment with principal, interest, property tax, homeowners insurance, HOA dues, and optional mortgage insurance shown separately.
Go to the calculator ↓Runs in your browser. No account needed. Calculator inputs stay on this page and are not sent to a calculation server.
Use the Mortgage Calculator
How to use this calculator
Enter the purchase price and down payment in dollars. Add your own tax and insurance estimates. Mortgage insurance is a monthly dollar amount supplied by you; it is not automatically estimated from the down payment.
Formula and method
Loan amount = home price − down payment. Principal and interest use the fixed-payment loan formula. Estimated monthly housing cost = principal and interest + annual tax ÷ 12 + annual insurance ÷ 12 + monthly HOA + monthly mortgage insurance.
Worked example
A USD 350,000 home with USD 70,000 down leaves a USD 280,000 loan. At 6.5% over 30 years, principal and interest are about USD 1,769.79 per month. Adding USD 4,200 annual tax and USD 1,800 annual insurance brings the estimate to USD 2,269.79 before HOA or mortgage insurance.
Assumptions and limits
Models a fixed-rate, fully amortizing mortgage with monthly payments. Taxes, insurance, HOA, and mortgage insurance stay constant in this scenario. Closing costs, maintenance, utilities, and adjustable-rate changes are excluded. Mortgage insurance is not automatically canceled. This is an estimate, not an approval or offer.
Common questions
Why is my lender's payment different?
A lender may use different tax estimates, escrow adjustments, insurance, fees, or rounding. Compare each component with your Loan Estimate.
Does the amortization table include tax and insurance?
No. The amortization table tracks the loan balance, principal, and interest only. Monthly housing costs are shown separately.
Related calculators
Method reference: Consumer Financial Protection Bureau. Formula and tool checked October 31, 2026. Results are rounded for display.
Related to This Article
More math articles
- How to Simplify Polynomials? (+FREE Worksheet!)
- Top 10 Math Books for Grade 6 Students: Inspiring Masterminds
- 7th Grade IAR Math FREE Sample Practice Questions
- Writing and Evaluating Expressions for 5th Grade: Variables and Rules
- North Carolina Algebra 1 Free Worksheets: Printable NC Algebra 1 Practice, Answers Included
- Free Grade 8 English Worksheets for Alabama Students
- FREE 5th Grade Common Core Math Practice Test
- Distributive, Redistributive, Regulatory, and Constituent Policies
- The Best Grade 3 ELA Practice Tests for Vermont Students
- Function Testing, Damage, and Lubrication
What people say about "Mortgage Calculator: Monthly Payment | Effortless Math"?
No one replied yet.