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Mortgage Calculator

Calculate your monthly mortgage payment including down payment.

Additional Monthly Costs (optional)

Total Monthly Payment

-

Principal & Interest: -
Property Tax: - | Insurance: - | HOA: - | PMI: -
Loan Amount: -
Total Interest: -
Total Loan Cost: -

Loan-to-Value (LTV) Ratio: -

Disclaimer: This calculator provides estimates for informational purposes only and does not constitute financial advice. Actual mortgage terms, taxes, and fees vary by lender and location. Consult a mortgage lender or financial advisor before making decisions.

Compare Two Mortgage Scenarios

Scenario A

Scenario B

Free Mortgage Calculator — Estimate Your Monthly Payment

Buying a home is likely the largest financial commitment you'll make, and understanding your true monthly cost upfront is essential for budgeting. Our free Mortgage Calculator estimates your monthly payment based on home price, down payment, interest rate, and loan term — plus optional property tax, home insurance, HOA fees, and PMI for a complete picture, with extra payment and scenario comparison tools.

Why Use This Tool

  • Down payment slider: Instantly see how different down payments affect your payment.
  • Full cost breakdown: Principal, interest, property tax, insurance, HOA, and PMI all included.
  • LTV & PMI guidance: See your loan-to-value ratio and whether PMI applies.
  • Extra payment impact: See how extra monthly payments shorten your loan and save interest.
  • Scenario comparison: Compare two mortgage offers side by side.
  • Multi-currency support: Works with PKR, USD, INR, EUR, GBP, AED, and SAR labels.

Key Features

Down Payment Slider

Drag or type an exact amount.

Full Payment Breakdown

Tax, insurance, HOA, PMI included.

LTV Ratio & PMI Check

See if you'll need PMI.

Amortization Schedule

Yearly principal, interest, and balance.

Step-by-Step: How to Use

Step 1: Enter the home price and select your currency.

Step 2: Adjust the down payment slider or type an exact amount.

Step 3: Enter the interest rate and loan term, plus optional tax, insurance, HOA, and PMI.

Step 4: Results update live — see your full monthly payment, LTV, and amortization schedule instantly.

Benefits

  • Helps you budget accurately before house hunting or applying for a mortgage.
  • Shows how a larger down payment reduces both monthly payment and total interest.
  • Reveals your true monthly housing cost, not just principal and interest.
  • Shows how extra payments can shorten your loan and save on interest.

Common Use Cases

  • Estimating affordability before making an offer on a home.
  • Comparing 15-year vs. 30-year mortgage terms.
  • Understanding how increasing your down payment affects PMI and your budget.
  • Planning the impact of extra monthly payments on payoff time.

Privacy & Security

Estimates your monthly mortgage payment based on home price, down payment, interest rate, loan term, and optional costs like tax, insurance, HOA, and PMI. All calculations happen locally in your browser — nothing is uploaded anywhere.

Frequently Asked Questions

Does this include property tax or insurance? +
Yes, you can optionally enter yearly property tax, yearly home insurance, monthly HOA fees, and monthly PMI — all are added to your total monthly payment.
Loan-to-Value (LTV) is your loan amount divided by the home price. An LTV above 80% (down payment below 20%) typically means PMI is required by lenders.
Extra payments go directly toward principal, which shortens your loan term and reduces total interest paid — the calculator shows both effects.
Yes, use the "Compare Two Mortgage Scenarios" section to enter two loan amounts, rates, and terms and see which costs less overall.
A higher down payment reduces the loan principal, which lowers both your monthly payment and total interest paid.
Commonly 5% to 20% of the home price, varying by lender and loan type.
Yes, drag the slider or type an exact amount — both stay synced.
The standard amortization formula: Payment = P × r × (1+r)^n / ((1+r)^n − 1).
Yes, but increases total interest paid over the loan's life.
Yes, completely free with unlimited calculations.
No, all calculations happen locally in your browser.
Yes, enter your remaining balance as the home price with 0% down payment.
PKR, USD, INR, EUR, GBP, AED, and SAR labels.

Related Tools

Also try our Loan & EMI Calculator, Compound Interest Calculator, and Salary Calculator.

Ready to plan your mortgage? Enter your details above — free and instant.

Share Your Experience

Found this tool useful? Have a suggestion or found a bug? Send your feedback directly to us — we read every message.