Mortgage Calculator

Estimate your monthly mortgage payments including principal and interest. Essential tool for prospective home buyers.

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Mortgage Calculator

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Estimate monthly mortgage payments

How It Works

  1. Enter the Home Price.
  2. Enter your Down Payment amount.
  3. Input the Interest Rate and Loan Term (usually 30 or 15 years).
  4. Click "Calculate" to see your monthly P&I payment.

Use Cases

  • Budgeting for a new home purchase
  • Comparing 15-year vs 30-year mortgages
  • Understanding affordability based on salary
  • Refinancing analysis

Frequently Asked Questions

Does this include property tax and insurance?

No, this calculates Principal and Interest (P&I) only. Taxes, insurance, and HOA fees vary widely.

What is a down payment?

It is the upfront cash you pay towards the home price. A larger down payment reduces your monthly instalments.

What is a good rate?

Mortgage rates fluctuate with the economy. Check current market listings for the most accurate rate to enter.