MTG

Mortgage Calculator

Your monthly home payment: principal and interest, plus property tax and insurance, and what the loan costs in interest.

Finance & InvestmentTop 100 · #3Runs in your browser

Result…

$
%
%

The yearly rate on the loan (not the APR).

years
% / yr

Of the home price each year. Optional: 0 leaves it out.

$/ yr

Optional: 0 leaves it out.

$/ mo

Paid on top each month, straight off the principal.

 

…

How it's calculated

M = L × i ÷ (1 − (1 + i)^−n)
L = price − down payment, i = yearly rate ÷ 12, n = years × 12
Monthly total = M + property tax ÷ 12 + insurance ÷ 12

The monthly payment on a fixed-rate mortgage, with the property tax and insurance most lenders collect alongside it. The chart shows each year split into principal and interest: early years are mostly interest. An extra monthly payment goes straight to principal and shortens the loan.

Your numbers, step by step

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