Mortgage Calculator
Plan your home purchase with confidence. Calculate your monthly mortgage payment and total cost of homeownership.
Loan details
Enter your home purchase information
20.0% of home price
U.S. average is around 1.1% of home value per year
Leave at 0 if your home has no HOA
Only applied while your down payment is under 20%
Extra principal each month pays the loan off faster and cuts total interest
Monthly payment
Your estimated mortgage costs
Total monthly payment
$2,539.28
Principal, interest, taxes, insurance
Monthly breakdown
Loan amount
$320,000
Down payment
$80,000
Total interest
$408,142.36
Total Cost (incl. tax, ins)
$914,142.36
Understanding Your Mortgage
A mortgage is one of the largest financial commitments you'll make. Aim for a down payment of at least 20% to avoid private mortgage insurance (PMI). Consider the total cost of the loan, not just the monthly payment. A shorter loan term (15 vs 30 years) means higher monthly payments but significantly less interest paid over the life of the loan.
Monthly payment
$2,539.28
Total cost
$914,142.36