Mortgage Payment Calculator
Estimate a monthly mortgage payment from home price, down payment, interest rate, term, taxes, insurance, and HOA/condo fees.
Enter your numbers
Use the defaults as a sample scenario, then edit any field to compare outcomes.
Planning estimate only. Results update locally in your browser.
Understand the result
Use this section for the assumptions, tradeoffs, charts, and questions to ask before acting.
Educational estimate only — not financial, legal, tax, mortgage, or lending advice. Confirm lender rules, taxes, insurance, penalties, and legal/tax implications with qualified professionals.
What this means
$2,528 is the loan payment before taxes, insurance, fees, and any mortgage insurance. Your all-in estimate is $3,178, including about $650 in monthly ownership costs and an estimated $116,950 needed at closing. The entered down payment is already at or above the usual 80% LTV mortgage-insurance checkpoint.
Decision memo
Copy or print a local-only worksheet for lender shopping, household planning, or refinance comparisons.
| What changes | Baseline | New scenario | Difference |
|---|---|---|---|
| Home price → loan amount | $500,000 | $400,000 | $100,000 down |
| Monthly cash flow | $2,528 | $3,178 | $650 taxes/fees/insurance |
| Cash to close | $100,000 | $116,950 | $16,950 estimated costs/prepaids |
- Baseline
- $500,000
- New scenario
- $400,000
- Difference
- $100,000 down
- Baseline
- $2,528
- New scenario
- $3,178
- Difference
- $650 taxes/fees/insurance
- Baseline
- $100,000
- New scenario
- $116,950
- Difference
- $16,950 estimated costs/prepaids
| Down payment | Loan | LTV | PMI/default insurance | Monthly payment | Cash to close |
|---|---|---|---|---|---|
| 3% ($15,000) | $485,000 | 97% | $222 | $3,938 | $31,950 |
| 5% ($25,000) | $475,000 | 95% | $218 | $3,870 | $41,950 |
| 10% ($50,000) | $450,000 | 90% | $206 | $3,701 | $66,950 |
| 15% ($75,000) | $425,000 | 85% | $195 | $3,531 | $91,950 |
| 20% ($100,000) | $400,000 | 80% | $0 | $3,178 | $116,950 |
| 25% ($125,000) | $375,000 | 75% | $0 | $3,020 | $141,950 |
- Loan
- $485,000
- LTV
- 97%
- PMI/default insurance
- $222
- Monthly payment
- $3,938
- Cash to close
- $31,950
- Loan
- $475,000
- LTV
- 95%
- PMI/default insurance
- $218
- Monthly payment
- $3,870
- Cash to close
- $41,950
- Loan
- $450,000
- LTV
- 90%
- PMI/default insurance
- $206
- Monthly payment
- $3,701
- Cash to close
- $66,950
- Loan
- $425,000
- LTV
- 85%
- PMI/default insurance
- $195
- Monthly payment
- $3,531
- Cash to close
- $91,950
- Loan
- $400,000
- LTV
- 80%
- PMI/default insurance
- $0
- Monthly payment
- $3,178
- Cash to close
- $116,950
- Loan
- $375,000
- LTV
- 75%
- PMI/default insurance
- $0
- Monthly payment
- $3,020
- Cash to close
- $141,950
Watch-outs
- A lender quote should spell out whether mortgage insurance is monthly, upfront, financed, refundable, or cancellable.
- The 80% LTV checkpoint is a planning shortcut; loan program rules, appraisals, financed premiums, and cancellation timing can differ.
- Cash-to-close estimates can miss transfer taxes, legal/title costs, inspections, rate-lock fees, and lender-specific escrows.
- If this is for Canada, use the Canada-specific calculator for semi-annual compounding, term, stress-test, and default-insurance assumptions.
Formula
Loan amount = home price − down payment.
Monthly principal and interest uses the standard amortization payment formula.
Estimated monthly payment = principal & interest + estimated PMI/default insurance + property tax + insurance + HOA/condo fees.
Cash to close estimate = down payment + closing-cost placeholder + upfront insurance placeholder + prepaid tax/insurance escrow.
Worked example
A $500,000 home with $100,000 down, a 6.5% 30-year mortgage, $500/month tax, and $150/month insurance gives about $3,178/month total estimated payment.
Important disclaimer
This is an educational calculator, not financial, legal, tax, or professional advice. Mortgage, debt, savings, and budget decisions can depend on lender rules, taxes, fees, insurance, penalties, local laws, risk tolerance, and your personal situation.
FAQ
Does this include every ownership cost?
No. It includes placeholders for mortgage insurance and cash to close, but still excludes maintenance, repairs, utilities, moving costs, and changing taxes or insurance.
What if the interest rate is zero?
The calculator divides principal evenly across the term.
Is this mortgage advice?
No. It is an educational estimate only.
Get a better answer from the Mortgage Payment Calculator
- Start with the example values to see how the tool behaves.
- Swap in your own numbers, even if they are rough first-pass estimates.
- Change one input at a time so you can see what actually moves the result.
What the result means
The result is a home-budget estimate, not a lender promise. It helps you see the monthly payment, cash pressure, and interest tradeoff before you shop or commit.
How to use it
Compare a comfortable case with a stretched case. The gap tells you how much room you have if the rate, taxes, insurance, or closing costs move.
What can change it
Principal and interest are only part of home cost. Taxes, insurance, HOA or condo fees, repairs, mortgage insurance, and closing costs can change the real answer fast.
Example to try
Run the same home price with a lower down payment, then again with a rate 1% higher. The payment gap is the real affordability stress test.
Assumption to challenge
Taxes, insurance, HOA/condo fees, repairs, and mortgage insurance can matter as much as the loan payment. Do not judge affordability from principal and interest alone.
Verify next
Ask a lender for the current rate, closing-cost estimate, property-tax treatment, insurance assumptions, and whether any mortgage insurance applies.
Key terms
Principal & interest
The loan payment before taxes, insurance, HOA/condo fees, and any mortgage insurance.
Loan-to-value
Loan amount divided by home price or appraised value. It often affects mortgage insurance and lender rules.
Cash to close
Down payment plus estimated closing costs, upfront insurance, and prepaid/escrow amounts.
Common uses
- Estimate a monthly payment before shopping.
- Compare down payment options.
- Add taxes, insurance, and HOA to avoid surprises.
Common questions
Is the Mortgage Payment Calculator private?
Yes. CalcShelf calculators run without an account, do not save calculator entries, and do not put raw inputs into shareable URLs or analytics events.
How accurate is the Mortgage Payment Calculator?
It is a home-finance estimate, not a lender quote. Rates, taxes, insurance, fees, insurance premiums, and underwriting rules can change the real payment or approval result.
What should I check after using the Mortgage Payment Calculator?
Verify rate, fees, taxes, insurance, lender rules, cash to close, and any mortgage insurance before acting.
Which calculator should I try next?
Use the related calculators below to cross-check the same decision from another angle before you act.
Method behind the estimate
Mortgage calculators use standard amortization and payment math with user-entered rates, terms, taxes, insurance, and fee assumptions.
Why the detail matters
Results are estimates. Lender rules, payment frequency, penalties, taxes, mortgage insurance, closing costs, and local law can change the real answer.
Privacy guardrail
Your calculator values are for you. CalcShelf does not require an account, save calculator entries, put your numbers into shareable URLs, or use raw inputs as analytics events.
Copy or print safely
Use any copy, print, or worksheet controls as local handoff tools for your own notes, supplier calls, lender questions, or implementation checklist. They are there to help you explain the result to a human.
Before acting
Treat the result as a decision draft, not a verdict. Recheck the source numbers, run a downside case, and verify the real-world rule, quote, label, or spec that controls the final answer.
Last reviewed: May 11, 2026. See methodology and editorial policy for formulas, assumptions, rounding, review approach, and limitations. For borrowing decisions, confirm lender rules, rates, taxes, fees, and legal requirements.