Mortgage Calculator
Monthly payment with taxes, insurance and extra payments. Change the numbers and the result updates instantly.
How it works
Your monthly mortgage payment has four parts: principal, interest, property tax and homeowners insurance (PITI). Principal and interest follow the standard loan formula: payment = loan x r / (1 - (1 + r)^-n), where r is the monthly interest rate and n is the number of monthly payments. Lenders add private mortgage insurance (PMI) when you put down less than 20%.
Example
Example: a $400,000 home with 20% down is a $320,000 loan. At 6.5% for 30 years the principal and interest payment is $2,022.62 a month and total interest over the loan is $408,142. Paying an extra $200 a month shortens the loan by several years and saves tens of thousands in interest. Use the extra payment box to see your own numbers.
Tips
- Change one input at a time to see what moves the result most.
- Use realistic rates. Check current averages before you decide.
- Results are estimates and do not replace advice from a licensed professional.
Frequently asked questions
Is this calculator free?
Yes. There is no sign-up and nothing is stored on our servers; the math runs in your browser.
How accurate is it?
It uses standard formulas, but real offers include fees, rate changes and taxes that can differ. Treat the result as an estimate.
Sources and method
Page last updated November 2026. See our editorial policy and disclaimer.