Finance Calculators
Mortgage Calculator
Estimate your monthly mortgage payments.
Applied upfront and excluded from financed principal.
Calculation assumptions
- *Mortgage payment shown here is principal and interest only.
- *Property tax, homeowners insurance, HOA dues, PMI, and closing costs are not included.
- *Down payment reduces the financed principal but is not mixed into the recurring cost chart.
- *Actual mortgage offers can differ because of fees, escrow rules, insurance, PMI, lender policy, and local laws.
Enter your values and press Calculate.
Results and breakdowns will appear here after a valid calculation.
What this mortgage estimate includes
This calculator is intentionally scoped to principal and interest so the core loan math stays transparent. That makes it useful for comparing financing scenarios before you layer on location-specific housing costs like taxes or insurance.
The result is not the same as a full escrow payment. Property tax, insurance, HOA dues, PMI, closing costs, and lender fees can materially change the monthly cost.
Mortgage formula and example
Mortgage principal is home price minus down payment. The monthly principal-and-interest payment uses the fixed-payment formula: Payment = P x r x (1 + r)^n / ((1 + r)^n - 1).
Example: a $300,000 home with $60,000 down leaves a $240,000 loan. At 6.5% for 30 years, the estimated principal-and-interest payment is about $1,516.96 per month.
Assumptions, use cases, and common mistakes
Use this page to compare loan terms, down payments, and interest-rate scenarios before requesting lender quotes. Results are estimates, not mortgage approvals.
- Do not treat principal and interest as the full housing payment.
- Do not forget escrow, property tax, insurance, HOA dues, or PMI.
- Do not compare offers without checking APR, points, fees, and rate-lock terms.
- Verify important decisions with lender documents, official calculators, or a qualified professional.
Transparency note
Accuracy and limitations
Calzivo tools are built for practical estimates, conversions, and checks. Some tools use standard formulas or simplified assumptions, and results can be affected by input accuracy, rounding, units, local rules, or changing official requirements.
Finance results are planning estimates, not financial advice. Actual costs or returns can change because of fees, taxes, rates, timing, provider rules, and personal circumstances.
Reference check
Sources and references
These references provide background context for the topic. They do not replace official advice or documents for personal decisions.
- Loan Estimate Explainer
Consumer Financial Protection Bureau
How to Use This Tool
Use these steps to enter the right inputs and interpret the result correctly.
Enter the home price, down payment, interest rate, and term.
Use the monthly P&I result as the loan-only portion of your housing budget.
Check the amortization schedule to see how balance declines over time.
Related Tools
Other helpful tools in the Finance Calculators category.
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Check how much loan you can afford based on income.
APR Calculator
Calculate the annual percentage rate for loans.
Tax Calculator
Estimate your income tax and take-home pay.
Related Guides
Background reading and explanations related to Mortgage Calculator.
How to Calculate EMI (Step-by-Step + Real Loan Examples)
A step-by-step guide to loan math.
APR vs Interest Rate Explained
Understand interest rate, APR, fees, and why monthly payment still matters.
Loan Eligibility Factors Explained
See how income, obligations, tenure, rates, and lender assumptions affect eligibility estimates.
Frequently Asked Questions
Common questions about Mortgage Calculator and how to read the result.
Why are taxes and insurance missing?
Those costs vary by property and location. This tool keeps the loan payment clean and visible instead of mixing recurring housing costs into the same number.
What does principal and interest mean?
Principal is the amount borrowed after the down payment. Interest is the cost charged by the lender for borrowing that principal.
Does this include PMI?
No. PMI is not included because it depends on down payment, loan type, lender rules, and local market requirements.
How does down payment affect the result?
A larger down payment lowers the financed principal, which usually lowers the monthly principal-and-interest payment and total interest.
Is the interest rate the same as APR?
Not always. APR may include certain fees and borrowing costs, while this mortgage calculator uses the interest rate you enter.
Is this mortgage estimate an approval?
No. Lenders also review credit, income, property details, documents, insurance, escrow, fees, and internal policy.