Mortgage Payment Calculator
Estimate monthly principal and interest for a fixed-rate home loan.
Estimate the monthly principal-and-interest payment on a fixed-rate mortgage. Enter the amount borrowed, annual interest rate, and loan term.
What the payment includes
The result includes principal and interest only. A real housing payment may also include property taxes, homeowners insurance, mortgage insurance, HOA dues, flood insurance, or other costs.
Fixed-rate mortgage formula
The calculator uses the standard amortizing-loan payment formula. The monthly interest rate is the annual percentage divided by 12, and the number of payments is the term in years multiplied by 12.
Loan amount versus home price
Enter the amount you plan to borrow, not necessarily the purchase price. If you are making a down payment, subtract it from the price before entering the loan amount.