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Mortgage Calculators

Mortgage Calculator

Enter a home price, down payment, rate, and term and MortgageLab estimates your full monthly payment — principal, interest, property tax, insurance, PMI, and HOA.

Monthly mortgage payment estimate

Estimated payment, per month

$2,875.44

Loan amount
$360,000
Down payment
20%
Total interest
$459,160

Monthly payment breakdown

Principal & interest$2,275.44
Property tax$450.00
Home insurance$150.00

Estimate using fixed-rate amortization plus the taxes, insurance, PMI, and HOA you enter. PMI is included only when the down payment is under 20% and is not auto-cancelled here. Not a rate lock, pre-approval, or financial advice.

About this calculator

A free mortgage payment calculator that turns a home price into an estimated monthly housing cost. It amortizes the loan at a fixed rate, then adds the recurring escrow pieces of a real payment: property tax, homeowners insurance, PMI when the down payment is under 20%, and HOA dues. It also shows the loan amount and total interest paid over the life of the loan. Everything runs in your browser; the result is an estimate, not a rate lock, pre-approval, or financial advice.

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Questions

Is the mortgage calculator free?
Yes. It is free, needs no account, and calculates entirely in your browser — none of the figures you enter are uploaded or stored.
What does the monthly payment include?
Principal and interest from a fixed-rate amortization, plus the property tax, homeowners insurance, PMI, and HOA dues you enter. Together these make up the PITI-plus payment most lenders quote.
When is PMI included?
Private mortgage insurance is added only when your down payment is under 20% of the home price. It is charged as a flat annual percent of the loan amount and is not auto-cancelled in this estimate, so it may run high once you cross 20% equity.
Why might the estimate differ from a lender quote?
The tool uses the rate, taxes, and insurance you enter and assumes a fixed rate for the whole term. It does not model points, lender fees, adjustable rates, or escrow shortfalls, so treat it as a close estimate.