Mortgage Calculator

This mortgage calculator gives you a complete picture of your monthly housing costs — not just principal and interest. Enter your home price, down payment percentage, interest rate, and loan term to see your base payment. Then add property taxes, homeowner's insurance, and HOA fees for the full monthly cost.

What's included in a mortgage payment?

Your mortgage payment consists of four parts, often called PITI: Principal (the loan amount you're paying down), Interest (what the lender charges for the loan), Taxes (property taxes collected by your local government), and Insurance (homeowner's insurance that protects against damage). Many homeowners also pay HOA fees if they live in a community with shared amenities.

How much house can I afford?

A common guideline is to keep your total housing payment below 28% of your gross monthly income, or 25% of your net take-home pay for a more conservative approach. Use this calculator to find the home price that fits your budget — adjust the price until the monthly payment aligns with what you can comfortably spend.

15-year vs 30-year mortgage

A 15-year mortgage has higher monthly payments but saves you significantly on total interest. Try changing the loan term between 15 and 30 years to see the difference. On a $320,000 loan at 6.5%, switching from 30 to 15 years saves over $200,000 in interest — but increases your monthly payment by roughly $800.