Mortgage Payment Calculator
Estimate your full monthly payment, principal, interest, taxes, insurance, and HOA, so you can house-hunt with a real budget in mind. Move the sliders and watch your numbers update instantly.
- Principal & interest
- Property tax
- Home insurance
- HOA
Loan amount:
Get pre-approvedHow this estimate works
We start with your home price and subtract your down payment to get the loan amount. Principal and interest are calculated from that loan amount using your chosen interest rate and term with the standard amortization formula, the same math your lender uses.
On top of principal and interest, most buyers also pay property taxes and homeowners insurance, usually collected monthly into an escrow account. We estimate property tax as an annual percentage of the home's price and spread your annual insurance premium across twelve months. If your home is in a community with a homeowners association, we add your monthly HOA dues on top.
The result is a fuller picture of your monthly housing cost, not just the loan payment. Adjust any input to see how a bigger down payment, a shorter term, or a different price changes what you'd pay each month.
This is an estimate only, not a quote, pre-approval, or commitment to lend. Your actual payment depends on final loan terms, your qualifications, the property, and current rates, and may not include every cost (such as mortgage insurance, flood insurance, or lender fees). Interest rates and terms are subject to change. Equal Housing Lender.
Turn your estimate into a real number.
A free, no-obligation pre-approval locks in what you can actually afford, and shows sellers you're ready. Chance will give you a straight answer, fast.