Mortgage Payment
Monthly payment with down payment, property tax and insurance.
Monthly payment with down payment, property tax and insurance.
Monthly payment with down payment, property tax and insurance. Fill in the fields above and the result updates instantly, together with the formula behind it.
Monthly total = P × r ÷ (1 − (1 + r)^(−n)) + yearly tax ÷ 12 + yearly insurance ÷ 12, with r = annual rate ÷ 12 and n = years × 12
A $350,000 home, 20% down, 6.5% for 30 years: about $1,770 principal and interest, or $2,220 a month with tax and insurance.
Estimate only. Lenders may add mortgage insurance, HOA dues and fees; fixed rate and equal payments are assumed.
Monthly total = P × r ÷ (1 − (1 + r)^(−n)) + yearly tax ÷ 12 + yearly insurance ÷ 12, with r = annual rate ÷ 12 and n = years × 12. Example: A $350,000 home, 20% down, 6.5% for 30 years: about $1,770 principal and interest, or $2,220 a month with tax and insurance.
You enter: Home price; Down payment (%); Nominal annual interest (%); Loan term (years); Property tax per year (% of price); Home insurance per year. An example value is shown in each empty field, and the result appears as soon as the numbers are valid.
Principal and interest on the loan (home price minus down payment), plus one twelfth of the yearly property tax and home insurance you enter. Mortgage insurance, HOA fees and utilities are not included.
It reduces the amount borrowed, so the payment and the total interest both fall. Try 10%, 20% and 30% to compare.
Yes. Use Copy to copy the result or full example. Share creates a link that puts your chosen values into the URL fragment so another person can reproduce the calculation. Your named saves and recent history stay in your own browser.