Finance · Home loan

Mortgage calculator

Estimate your monthly mortgage payment and total interest over the life of the loan.

Loan details

Monthly payment
—
Principal & interest, plus escrow if entered
Loan amount—
Total interest—
Total paid—

Rough sheet

step-by-step
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How the payment is calculated

This calculator uses the standard fixed-rate amortization formula: monthly payment = P × r ÷ (1 − (1 + r)⁻ⁿ), where P is your loan principal (home price minus down payment), r is your monthly interest rate, and n is the number of monthly payments over your loan term. If you enter an annual property tax and insurance amount, that's added on top of the principal-and-interest payment as a simple monthly escrow estimate, not run through the amortization formula itself.

Frequently asked questions

A standard amortization formula for principal and interest, based on your loan amount, interest rate, and term. Optional annual property tax and insurance are added on top as escrow.

Only if you enter an amount in the optional "annual property tax + insurance" field — otherwise the payment shown is principal and interest only.