Mortgage CalculatorSmart Calculations
Editorially reviewed · Last verified August 2026

Free Mortgage Calculator & Home Loan Tools

Estimate monthly payments with principal, interest, taxes, insurance, and PMI. Compare loan types and see how much house you can afford — in your browser, for free.

Calculate Your PaymentAffordability Calculator
6
Payment tools
Included
PITI + PMI
10+
Guides
Your browser
Runs where
Mortgage Calculator dashboard showing monthly payment breakdown

Quick Answer: A mortgage calculator estimates your monthly home loan payment by combining the principal loan amount, interest rate, loan term, property taxes, homeowners insurance, and PMI (if your down payment is under 20%). For a $350,000 home with 10% down at a 6.5% interest rate on a 30-year loan, your estimated monthly payment would be approximately $2,460 including taxes and insurance.

Payment tools on this site

Each tool is free, runs locally in your browser, and uses the formulas on our methodology page. Default interest figures are examples — not a live weekly survey.

Payment estimator

Monthly principal, interest, taxes, insurance, PMI, and HOA from inputs you control.

PITI + PMI

How Much House Can I Afford?

Find a maximum home price from income, debts, and a 28/36-style DTI cap.

28/36-style DTI

VA Loan Calculator

Funding fee, residual income, and a payment estimate for qualifying veterans.

Funding fee model

Refinance Calculator

Current vs new rate, remaining term, and months to break even on closing costs.

Break-even estimate

FHA Loan Calculator

FHA-style payment with upfront and annual MIP included in the illustration.

MIP included

Amortization Schedule

Chart plus month-by-month principal vs interest, with optional extra payments.

Full schedule

30-Year Mortgage Calculator

Payment on a 30-year fixed loan, with taxes and insurance included.

30-year fixed

15-Year Mortgage Calculator

Higher monthly payment, less interest than a 30-year loan.

15-year fixed

Payment on a $300,000 House

Worked monthly payment for a $300k purchase, including a 7% example.

$1,597 P&I at 7%

What each estimate includes

Many simple tools show only principal and interest. Ours also adds the other lines that usually appear in a monthly housing payment — because a real bill is rarely just P&I.

  • Principal & Interest — Based on loan amount, interest rate, and term
  • Property Taxes — Estimated from your home value and location
  • Homeowners Insurance — Typical rates for your home value
  • PMI (Private Mortgage Insurance) — Automatically calculated if down payment < 20%
  • HOA Fees — Optional — add if your property has them
Try the Full Calculator

Sample Calculation

Home Price$400,000
Down Payment (10%)$40,000
Loan Amount$360,000
Interest Rate6.5%
Loan Term30 Years
Monthly Payment$2,955

Including principal, interest, taxes, insurance, and PMI (rounded)

Worked example documented on methodology. Default 6.5% is an illustration, not this week’s PMMS average.

Guides and explainers

Plain-language notes on DTI, PMI, closing costs, and related topics

PMI Rate Guide: 7 Honest Factors Lenders Price In

Sep 12, 2026

When Can I Cancel PMI? 5 Critical 80% / 78% Rules

Sep 12, 2026

Mortgage Recasting vs Extra Payments: 6 Money Tradeoffs

Sep 12, 2026

Are VA Loans Hard to Get?

Aug 25, 2026

Do VA Loans Have PMI?

Aug 25, 2026

VA Funding Fee vs PMI

Aug 25, 2026

The 28/36 Rule Explained

Jan 15, 2026

What is PMI and How to Avoid It

Jan 22, 2026

How to Calculate Your Mortgage Payment

Feb 1, 2026

VA Loan Eligibility Requirements

Feb 8, 2026

Documented formulas

Amortization, PMI bands, and tax defaults are published on the methodology page.

Editorially reviewed

Organization byline — no invented CFA/CFP person or fake testimonials.

Free and private

No signup. Calculator inputs stay in your browser.

Common questions

Estimates, PITI, affordability rules, and PMI

Principal and interest use the standard fully amortizing formula. Taxes, insurance, and PMI use simplified defaults (see Methodology). A lender quote can differ a lot once credit, property, fees, and the actual rate are known. Treat the result as a planning illustration, not a promised payment.
A typical mortgage payment (called PITI) includes four components: Principal (the amount you borrowed), Interest (the cost of borrowing), Taxes (property taxes), and Insurance (homeowners insurance). If your down payment is less than 20%, you will also pay Private Mortgage Insurance (PMI). Some properties also have HOA fees.
A good rule of thumb is the 28/36 rule: your monthly housing payment should not exceed 28% of your gross monthly income, and your total debt payments should not exceed 36%. However, this varies by loan type. FHA loans allow up to 31/43, and some conventional programs go to 45% or higher. Use our affordability calculator for a personalized estimate based on your income, debts, and down payment.
A 15-year mortgage has higher monthly payments but significantly lower total interest costs — often saving $100,000+ over the life of the loan. A 30-year mortgage offers lower monthly payments and more flexibility. If you can comfortably afford the 15-year payment and still maintain emergency savings, it is usually the better financial choice. If cash flow is tight, go with 30 years and make extra principal payments when possible.
The simplest way to avoid PMI is to make a down payment of at least 20%. Other options include piggyback loans (80/10/10), VA loans (no PMI for veterans), or lender-paid PMI (higher rate in exchange for no monthly PMI). Once you have 20% equity, you can request PMI cancellation on conventional loans.
For conventional loans, most lenders require a minimum credit score of 620, though the best rates go to borrowers with 740+. FHA loans accept scores as low as 580 with 3.5% down, or 500-579 with 10% down. VA loans technically have no minimum, though most lenders want 580-620.