Principal
The portion of each payment that reduces your outstanding loan balance.
Plan with confidence
Know what home really costs.
Adjust the numbers and see your estimated US monthly mortgage payment instantly.
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This calculator provides estimates for planning only. Actual payments, rates, taxes and fees may vary by lender and location.
Mortgage basics
What goes into a monthly mortgage payment?
Your mortgage bill may include more than the amount you borrowed. A useful estimate combines principal, interest, property taxes, homeowners insurance and any recurring association or mortgage-insurance charges. Together, these costs give you a more realistic view of the monthly commitment.
Interest
The cost charged by a lender for borrowing money, based on your loan rate.
Taxes & insurance
Location- and property-specific expenses often collected through an escrow account.
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Use the estimate well
How to compare mortgage scenarios
Start with a realistic home price and down payment. Then compare the same loan at different interest rates and terms. A shorter term can increase the monthly payment while reducing total interest; a larger down payment can lower the loan amount and loan-to-value ratio.
Remember to use property tax and insurance estimates for the specific ZIP code and home you are considering. These costs can differ substantially across the United States.
Read the complete US mortgage guideBrowse 400 mortgage articles
Common questions
Mortgage calculator FAQ
How is a monthly mortgage payment calculated?
A typical monthly housing payment combines loan principal and interest with estimated property taxes, homeowners insurance, HOA fees and mortgage insurance when applicable.
Does this calculator include property taxes and insurance?
Yes. Enter annual property taxes and homeowners insurance, plus any monthly HOA or mortgage insurance costs, to build a more complete estimate.
Is this mortgage estimate a loan offer?
No. The result is an educational estimate, not a quote, approval or financial advice. A lender can provide figures based on your credit, property and current market conditions.