US Mortgage Calculator

This mortgage calculator helps estimate your monthly principal and interest payment. Enter the loan amount, annual interest rate, and loan term to see the estimated monthly payment, total repayment, and total interest. You can also add annual property tax and monthly HOA fees to estimate a more realistic monthly housing cost.

In the U.S., a mortgage payment is only one part of the full cost of homeownership. The loan amount is usually the home price minus your down payment. The interest rate may depend on market conditions, credit score, loan type, down payment, and debt-to-income ratio. The loan term also matters: a 30-year mortgage usually has a lower monthly payment but higher total interest, while a 15-year mortgage usually has a higher payment but lower long-term interest cost.

Try changing the interest rate, term, property tax, and HOA fee to see how sensitive your monthly cost is. If you are preparing to buy a home, compare this estimate with homeowners insurance, PMI, utilities, maintenance, and emergency savings. This calculator and explanation are for general information only and are not mortgage, investment, tax, or legal advice. Confirm details with a lender, mortgage broker, or qualified financial professional before making decisions.

When rates are moving quickly, run a few stress tests: raise or lower the rate by 0.5% to 1% and see whether the payment still fits your cash flow and debt-to-income ratio. The CFPB describes DTI as monthly debt payments divided by gross monthly income; mortgage payments, auto loans, student loans, and credit card minimums can all affect that number. In higher-cost cities, qualifying for a payment is not the same as living comfortably with it.