Calculate your monthly mortgage payment, total interest costs, and loan amortization schedule. Get accurate estimates for conventional, FHA, VA, and USDA loans.
20.00% of home price
Required if down payment < 20%
Disclaimer: This calculator provides estimates only. Actual loan terms, rates, and payments may vary based on your credit score, income, and lender requirements. Property taxes and insurance costs vary by location.
For accurate loan information, please consult with a qualified mortgage lender or financial advisor.
A mortgage payment consists of four main components: principal, interest, taxes, and insurance (PITI). Our mortgage calculator helps you understand how each factor affects your monthly payment and total loan cost.
The principal is the amount you borrow, while interest is the cost of borrowing money. Early payments are mostly interest, while later payments are mostly principal. This is called loan amortization.
Property taxes are typically paid monthly through an escrow account. Homeowners insurance protects your property and is usually required by lenders. Both are included in your monthly mortgage payment.
A larger down payment reduces your loan amount and monthly payment. It also helps you avoid private mortgage insurance (PMI) on conventional loans and can secure better interest rates.
Conventional loans typically require 5-20% down and offer competitive rates.FHA loans allow 3.5% down but include mortgage insurance.VA loans offer 0% down for eligible veterans.USDA loans provide 0% down for rural properties.