Mortgage Calculator
Calculate your monthly mortgage payment including principal, interest, taxes, insurance, and more.
Loan Details
$
$
20.0% of home price
$
$
$
Payment Breakdown
Principal & Interest
$1,516.96 (81.3%)Property Tax
$250.00 (13.4%)Home Insurance
$100.00 (5.4%)81%
13%
Amortization Schedule
Monthly Payment
$1,866.96
Loan Summary
Loan Amount$240,000
Total Interest$306,107
Total Paid$672,107
How This Calculator Works
This mortgage calculator uses the standard amortization formula to calculate your monthly payment. The formula takes into account your loan amount (home price minus down payment), interest rate, and loan term to determine your principal and interest payment.
Additional costs like property taxes, homeowners insurance, and PMI are added to give you the total monthly payment. These estimates are based on typical U.S. market rates and may vary by location and lender.