Skip to main content
DailyBox

Mortgage Calculator

Estimate your monthly home payment from price, down payment, rate and term.

Inputs

Optional

Optional

Optional

Result

Enter your values to see the result.

How it works

The loan amount is the home price minus your down payment. The monthly payment covers principal and interest; property tax and insurance, if you enter them, are spread over twelve months and added on top.

  • P = price − down payment
  • payment = P × i ÷ (1 − (1 + i)^−n)
  • monthly total = payment + (tax + insurance) ÷ 12

Assumptions

  • Interest is compounded monthly (annual rate ÷ 12) and payments are made at the end of each month.
  • The interest rate stays fixed for the whole term.
  • Each payment is rounded to the cent and the last payment is adjusted, so totals can differ by under about $1 from the unrounded formula.
  • Fees, insurance and taxes are not included unless you enter them. Your lender’s figures may differ slightly.

Every calculation runs in your browser. Nothing you enter is uploaded.

Related tools

All calculators