Z

Mortgage Calculator

Calculate your monthly mortgage payments with our free home loan calculator. Get detailed breakdowns of principal, interest, and total costs for better home buying planning.

💡 Planning Tool: This calculator provides estimates for planning purposes. For official loan terms, consult with mortgage lenders directly.

🏠 Loan Details

Total price of the home

Amount you pay upfront

Your mortgage interest rate

Annual property taxes

Annual homeowners insurance

Required if down payment < 20%

Additional principal payment

Payment Breakdown

🏠

Enter your loan details to calculate monthly mortgage payments

Understanding Mortgage Payments

🏦 Principal & Interest

  • • Principal: Amount borrowed
  • • Interest: Cost of borrowing money
  • • Early payments are mostly interest
  • • Later payments are mostly principal
  • • This is called amortization

💰 Additional Costs

  • • Property taxes
  • • Homeowners insurance
  • • PMI (if down payment < 20%)
  • • HOA fees
  • • Maintenance and repairs

📈 Factors Affecting Rate

  • • Credit score
  • • Down payment amount
  • • Loan term length
  • • Loan type (FHA, VA, conventional)
  • • Current market conditions
Advertisement Space
native - Google AdSense Ready

Mortgage Shopping Tips

Before You Shop:

  • • Check your credit score
  • • Save for down payment
  • • Gather financial documents
  • • Determine your budget
  • • Research different loan types

Comparing Offers:

  • • Look at APR, not just interest rate
  • • Compare closing costs
  • • Consider points and fees
  • • Read all loan terms carefully
  • • Get multiple quotes

Planning Tool Only

This calculator provides estimates for planning purposes. Actual loan terms, rates, and payments will vary based on lender requirements and market conditions.

Always consult with qualified mortgage lenders for official loan quotes and advice.