How it works
A mortgage is an amortizing home loan. Monthly principal and interest follow the standard payment formula. Property tax, insurance, HOA, and other costs are added as housing expenses; PMI is included only while loan-to-value is above 80% of the original price.
Loan = Price − Down, A = P · i(1+i)^N / ((1+i)^N − 1)
When to use
Use this tool when you need to: default: {price} home, 20% down, 6.5% for 30 years, plus typical tax and insurance.
How to use this tool
- Enter your values in the fields above.
- Review the formula and any mode options for your problem.
- Read the result and the step-by-step solution.
Default: {price} home, 20% down, 6.5% for 30 years, plus typical tax and insurance.
Frequently asked questions
- What is the Mortgage Calculator?
- A mortgage is an amortizing home loan. Monthly principal and interest follow the standard payment formula. Property tax, insurance, HOA, and other costs are added as housing expenses; PMI is included only while loan-to-value is above 80% of the original price.
- How do I use the Mortgage Calculator?
- Enter the required values, then calculate. The Mortgage Calculator shows results, formulas, and step-by-step work when available. No account is required.
- What formula does the Mortgage Calculator use?
- Loan = Price − Down, A = P · i(1+i)^N / ((1+i)^N − 1)
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