Mortgage payment estimate
Enter the home price, down payment, interest rate and term to estimate monthly principal and interest. Property taxes, homeowners insurance, mortgage insurance, closing costs and HOA fees are not included.
Why the down payment matters
A larger down payment reduces the amount borrowed, which generally lowers both the monthly payment and total interest over the life of the mortgage.
Common term examples
15 yearsHigher monthly payment, less total interest
20–25 yearsMiddle-ground repayment period
30 yearsLower monthly payment, more total interest
What is not included?
The result focuses on principal and interest. Real housing costs can also include taxes, insurance, maintenance, mortgage insurance and association fees.