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Mortgage Calculator
Calculate a mortgage payment and a monthly housing budget with taxes, insurance, and other recurring costs.
- Total monthly housing cost
- 1,438.92
- Principal and interest payment
- 1,438.92
- Total loan interest
- 278,011.65
How the calculation works
Monthly housing budget = amortizing payment + annual taxes/12 + annual insurance/12 + other monthly costs.
Inputs
- Home price
- Down payment
- Annual interest rate, %
- Term, months
- Annual property tax
- Annual insurance
- Other monthly costs
Calculation details
A fixed nominal annual rate is divided by 12. Payments are at month end; daily accrual and intermediate rounding are not modeled.
Enter fees separately where provided. Insurance, penalties, and taxes are not included in the interest rate.
Property tax and insurance are user inputs because rates and exemptions depend on the property and jurisdiction.
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Updated: 2026-10-02