Free Mortgage Calculator
Planning to buy a home? Estimate your monthly mortgage payment by entering the loan amount, interest rate, and loan term.
Plan Your Home Purchase
A mortgage calculator is an essential tool for prospective homebuyers. It provides a clear estimate of your monthly mortgage payment, helping you understand how much home you can afford. By experimenting with different loan amounts, interest rates, and terms, you can find a payment that fits comfortably within your budget.
Understanding Your Payment
Your monthly mortgage payment primarily consists of two components: principal and interest. The principal is the amount you borrowed, and the interest is the cost of borrowing that money. Our calculator shows you the combined principal and interest payment. Remember that your actual monthly payment from a lender will likely also include property taxes and homeowners' insurance.