Mortgage Calculators
Work out what a home really costs each month — before you make an offer, before you refinance, before you sign. Free, no sign-up, no email needed.
Mortgage Calculator — monthly payment, taxes & PMI
$400,000 home, 20% down, 6.5% example rate, 30 years: $2,572.62 a month, with principal and interest, taxes and insurance broken out.
Calculate →Home Affordability Calculator
How much house can you afford? On $80,000 a year with $400 a month of debts and $40,000 down, this example works out to a $259,492.69 home.
Calculate →Refinance Calculator
Refinancing a $300,000 balance from 7.5% to 6.0% saves $418.32 a month in this example, and the $5,000 closing costs pay for themselves in about 12 months.
Calculate →Amortization Calculator
See every payment on a $320,000 loan at a 6.5% example rate over 30 years: $2,022.62 a month, $408,142.36 of interest in total, month by month.
Calculate →Extra Payment Calculator
Paying $200 extra a month on a $320,000 loan at a 6.5% example rate saves $105,428.67 of interest and cuts 79 months off the loan.
Calculate →Rent vs Buy Calculator
Renting at $1,800 a month for 5 years costs $114,677.33 in this example. Buying the $400,000 home works out to a net cost of $78,202.70.
Calculate →Down Payment Calculator
10% down on a $400,000 home is $40,000, leaving a $360,000 loan at 90% loan-to-value — and PMI to pay until the balance falls.
Calculate →PMI Calculator
10% down on a $400,000 home at a 6.5% example rate means $150.00 a month of PMI, dropping off in month 95 — about 7 years 11 months in.
Calculate →What does a mortgage cost each month?
Most people start with one question: how much is the mortgage payment on a $400,000 house? Take a $400,000 home with 20% down ($80,000), so the loan is $320,000. At a 6.5% example rate over 30 years, principal and interest come to $2,022.62 a month. Add property taxes of $400.00 a month ($4,800 a year) and homeowners insurance of $150.00 a month ($1,800 a year), and the total is $2,572.62 a month. With 20% down there is no PMI. The same home with only 10% down ($40,000) has a $360,000 loan, principal and interest of $2,275.44, plus $150.00 a month of PMI, for a total of $2,975.44 a month. Try both on the Mortgage Calculator — 6.5% is an example rate, not a live market rate, so change it to the rate a lender quotes you.
Guides
- How Mortgage Payments Work — principal, interest, taxes, insurance and PMI, line by line.
- How Much House Can I Afford? — the 28/36 rule, worked out on an $80,000 salary.
- Refinance: When Does It Pay? — break-even months, and why a longer term can cost more.
Why use these calculators?
Every result shows the maths behind it: the formula, the numbers used, and where the method comes from. Nothing is hidden, and nothing is made up. A mortgage calculator is only useful if you can see what goes into the monthly payment — principal and interest, property taxes, homeowners insurance, HOA dues and PMI — so each tool breaks those out line by line. If a number is a rough estimate, like the PMI rate or the property tax rate, the page says so in plain words, next to the number.
Before you buy, the home affordability calculator answers the question most buyers ask first: how much house can I afford on my salary? On $80,000 a year with $400 a month of other debts and $40,000 saved for a down payment, the worked example on that page comes to a $259,492.69 home. Already own a home? The refinance calculator shows whether a lower rate is worth the closing costs, and the extra payment calculator shows what an extra $200 a month does to a 30-year loan.
Sources and method. Standard amortization formula: monthly rate r = annual rate / 12, n = years × 12, payment M = P × r × (1+r)n / ((1+r)n − 1). PMI usually ends when the loan balance reaches 80% of the home value (Consumer Financial Protection Bureau guidance). Affordability uses the 28/36 rule of thumb used by many lenders. Rates in examples are examples only, not live market rates. Results are estimates, not financial advice.
Estimate, not financial advice. This calculator uses the standard amortization formula and the numbers you type in. It is not a loan offer and not financial advice. A lender will check your credit, income and debts and quote its own rate and fees before you borrow.