What This Calculator Does
This calculator estimates the monthly principal and interest payment on a home mortgage loan, based on the home price, your down payment, the interest rate, and the loan term.
The Method
After subtracting your down payment from the home price to get the loan amount, it applies the standard amortizing loan formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the loan principal, r is the monthly interest rate, and n is the total number of monthly payments.
What’s not included: This estimate covers principal and interest only. It does not include property taxes, homeowners insurance, mortgage insurance (PMI), or HOA fees, all of which affect your actual total monthly housing cost. Rates and terms vary by lender and borrower profile.
This tool is for general educational and planning purposes only and does not constitute financial or lending advice.