Mortgage Calculator

Monthly mortgage payment including principal, interest, property tax and home insurance.

Reviewed by the WorldCalcs team · Methodology · Last reviewed: June 2026

Home priceDown paymentAnnual interest rate (%)Loan term (years)Property tax per yearHome insurance per year

Monthly payment (P&I)

2 022.62

Total monthly (incl. tax + ins.)

2 422.62

Loan amount

320 000.00

Total interest

408 142.36

Works for any currency — results are in whatever currency you enter.

What is a mortgage calculator?

A mortgage calculator estimates the monthly cost of a home loan. It subtracts your down payment from the home price to get the loan amount, calculates the principal-and-interest payment, then adds property tax and home insurance to show your full monthly housing cost.

How it's calculated

Loan amount = home price − down payment. Principal & interest = loan × i × (1 + i)^n ÷ ((1 + i)^n − 1), where i is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of months (years × 12). Total monthly = principal & interest + property tax ÷ 12 + insurance ÷ 12.

Example

A 400 000 home with 80 000 down (20%) at 6% over 30 years gives a loan of 320 000 and a principal-and-interest payment of about 1 918.56. Adding 4 000 a year in property tax and 1 200 a year in insurance brings the total monthly payment to about 2 351.90.

All calculations happen in your browser. Nothing is sent, stored, or tracked.

Results are estimates and may contain errors — for general information only, not professional advice. Always verify before relying on them. Disclaimer

How to use

Enter your home price, down payment, interest rate and term. Optionally add annual property tax and home insurance to see your full monthly cost.

Monthly payment (P&I) is principal and interest only. Total monthly payment adds 1/12 of your annual tax and insurance on top.

Results are estimates and don't include PMI, HOA dues or closing costs.

Frequently asked questions

What is included in the monthly mortgage payment?+

Principal and interest, plus property tax and home insurance when you enter them (often called PITI).

What is principal versus interest?+

Principal repays the amount borrowed; interest is the cost of borrowing. The amortization schedule shows the split each month and year.

Does this include PMI or HOA fees?+

Not separately — you can add such recurring costs to the insurance field to include them in the monthly total.

How does the down payment affect the cost?+

A larger down payment lowers the loan amount, the monthly payment and the total interest.

How does the loan term affect cost?+

A longer term lowers the monthly payment but increases total interest paid.

Does it work for any currency?+

Yes — figures are in whatever currency you enter.