Set your borrowing amount
Home price minus down payment gives your loan amount. Try different terms and a rate quoted by a lender to compare payments.
G-Force Funding tools / Home financing
See the payment. Understand the full cost.
Explore how your home price, down payment and interest rate shape your monthly budget. Add the costs beyond the loan, then see how extra payments could bring your payoff closer.
Your mortgage details
U.S. fixed-rate estimate · USD. All starting values are examples, not current rates or quotes.
Use the note rate, not APR.
Dollar and percentage amounts stay in sync.
Taxes, insurance & other costs
Enter your lender’s estimate if applicable. No premium is assumed.
Mortgage insurance is entered manually; this calculator does not estimate premiums or automatically cancel them.
Plan extra principal payments
Added to every loan payment from the first month. Check any prepayment restrictions with your lender.
No signup required. This calculator does not submit or store your entries.
Estimated monthly housing cost
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- Principal & interest
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- Property taxes
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- Home insurance
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- HOA dues
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- Mortgage insurance
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Includes the costs entered above. HOA dues may be billed separately. Extra principal is shown below.
Loan amount—
Total loan interest—
Estimated payoff—
Principal + interest paid—
Loan totals exclude taxes, insurance, HOA dues, closing costs and other ownership expenses. Taxes, insurance and dues can change.
Enable JavaScript to calculate payments and view the schedule.
Your repayment schedule
See principal, interest and the remaining loan balance. Extra principal is included.
| Period | Payments | Principal | Interest | Balance |
|---|
Build a more complete home budget
Look beyond principal and interest
Use local property-tax estimates, an insurance quote and any HOA dues. Enter mortgage insurance separately if your loan requires it.
See the effect of paying extra
Extra principal can reduce the balance sooner. Compare the estimated interest saved with the monthly cash you would commit.
Planning an investment or commercial purchase?
This calculator estimates a standard home loan. For business-property scenarios and a preparation checklist, use our Commercial Loan Qualification Tool.
Mortgage calculator questions
What does the monthly estimate include?
It adds principal and interest, one-twelfth of annual property taxes and home insurance, monthly HOA dues, and the mortgage-insurance amount you enter. Utilities, maintenance, repairs, closing costs and other insurance are not included. Extra principal appears separately so you can distinguish the scheduled payment from your planned spending.
How is the payment calculated?
For a fixed-rate loan, the monthly principal-and-interest payment is L × r ÷ [1 − (1 + r)−n], where L is the loan amount, r is the annual interest rate divided by 1,200, and n is the number of monthly payments. At a 0% rate, the payment is L ÷ n. The schedule rounds monthly interest and payments to cents and adjusts the final payment.
Does the calculator automatically add or remove PMI?
No. Enter a monthly premium from your lender if applicable. Conventional loans with less than 20% down may require PMI, but premiums and cancellation requirements vary. The housing-cost estimate uses your entered premium; no automatic cancellation date is modeled. FHA, VA and other program-specific fees are not calculated automatically.
Is the interest rate a current mortgage offer?
No. The starting rate is an illustration. Replace it with a lender’s quoted interest rate. APR includes certain borrowing costs and is not the rate used in this payment formula. This tool is an estimate, not an approval, affordability decision or loan offer.
Can I use this for a Canadian mortgage?
This version uses U.S.-style monthly interest calculations and a fixed rate over the full repayment period. Canadian compounding conventions, mortgage terms and renewals may differ, so use a calculator designed for your Canadian loan.
Assumptions and sources
Assumes monthly payments, a constant interest rate, no financed fees, no missed payments and extra principal applied each month. Mortgage-insurance premiums are entered manually. The schedule covers the loan only. Actual lender calculations, escrow requirements and payment timing may differ.
Learn more from the Consumer Financial Protection Bureau: mortgage payment components, private mortgage insurance, and reading a Loan Estimate. Explore more free tools and Finance Guides and Resources.