Mortgage Calculator

2025 Mortgage Calculator: Simple, Accurate & Packed With Helpful Insights

Trying to figure out your mortgage payment shouldn't feel like solving a puzzle. Our free, easy-to-use mortgage calculator focuses on what really matters: giving you a clear, quick estimate that actually reflects what you'll pay each month.

What Your Monthly Mortgage Estimate Includes

We designed this tool to give you a full breakdown of your monthly costs, not just principal and interest. Here’s what you’ll get:

• Principal & Interest
• Property Taxes
• Homeowners Insurance
• PMI (if your down payment is under 20%)
• County-Specific Loan Limits
• Housing Expense Ratio
• Debt-to-Income (DTI) Ratio

Why Our Mortgage Calculator Stands Out

Most calculators leave out important factors like PMI or DTI. Ours doesn’t. We calculate PMI based on your down payment and credit score range, so you’re not caught off guard later.

You’ll also see your housing ratio and DTI ratio, both of which lenders use to decide how much you can borrow. Knowing these numbers can help you stay within your budget and avoid surprises during pre-approval.

Looking at homes near your max price? We'll also show you if you're over your local conforming loan limit, so you can plan ahead and avoid jumbo loan requirements.

Mortgage Calculator Instructions

To enhance your experience when using our mortgage calculators, we use your browser to remember your settings and payment inputs. If you navigate around or come back later, we'll populate our calculators with your most recent payment request.

How to Use Our Mortgage Calculator

Our mortgage calculator provides the power to easily switch from conventional loans to our signature government loan calculators.

Not all payment calculations are the same. FHA, VA, USDA, and conventional loans each have intricacies unique to themselves. Use the tabs located above the purchase price to toggle from one calculator to another.

Purchase Price

As you might expect, Purchase Price is the price you're paying for your home. All payment calculations begin here. Type, paste in a value, or use the slider to initiate your payment calculation.

Down Payment

Your Down Payment is the amount of money out of pocket you are paying for your home. Typical down payments are 5%, 10%, or 20% of the home's purchase price.

Type or paste a value to declare your down payment or simply select a preset percentage. The loan amount we use to calculate your monthly payment results from subtracting your down payment from the inputted purchase price.

Interest Rate

Your Interest Rate is determined by your mortgage lender. The lower the better.

Mortgage rates are typically offered in 1/8th percentage (0.125%) increments.

Use the + or - buttons to adjust your rate up or down 0.125%.

Some lenders may occasionally offer a rate designed to entice, such asx.99%. In this case, you can manually enter an interest rate.

Loan Term

The Loan Term is the number of months it will take to repay your loan in full. A typical mortgage term is 30 years, so we default to this. 15 years is next common. Use the preset loan term buttons to easily compare the impact the term will have on your payment.

If you need to, you can use the dropdown to select any term up to 360 months (30 years). This might be handy if you are refinancing and do not want to extend your term back out to 30 years or want to have your loan paid off by a certain date, like before you retire.

Property Taxes

Property Taxes vary greatly depending on your location. Somewhere in the range of 1% to 3% of the purchase price annually is normal.

When you make property tax changes, we will remember your tax rate as a percentage of your purchase price. That way when you increase or decrease your purchase price the property taxes will adjust accordingly.

Homeowner's Insurance

Your Homeowner's Insurance rate is also dependent upon your location. 0.3% to 1% of your home's price is normal.

Like property taxes, we'll remember your insurance rate and adjust the annual premium as you make purchase price changes.

You have the option to lock property tax and insurance amounts when changing the purchase price. This is handy if you are exploring payments for a specific property at different purchase prices and don't want these amounts to change.

Other Types of Mortgage Calculators

Not every mortgage follows the same formula. While our main calculator covers conventional and jumbo loan programs, we also offer specialized tools for popular government-backed loans like FHA, VA, and USDA.

• FHA Loans: FHA mortgages come with both upfront mortgage insurance and monthly premiums. It can feel complex, but our calculator takes care of the details to give you a clear picture of your payment.
• USDA Loans: These loans are known for their $0 down payment option and unique extended loan terms (33 or 38 years for USDA Direct). Our calculator factors in all the USDA-specific rules so you don’t have to guess.
• VA Loans: With no monthly mortgage insurance, VA loans are a standout option for eligible veterans and service members. However, they do include a one-time funding fee, which we calculate for you automatically.

Whatever your loan type, our calculators help you break down your payment with ease.

Supplemental Mortgage Calculators

Sometimes you need more than just a monthly mortgage estimate. Whether you’re refinancing, comparing loan terms, or exploring affordability, our growing collection of tools is designed to help.

If there’s a mortgage calculator you’d love to see, let us know. We’re always building new tools to make the homebuying process clearer and more personalized.

In the meantime, check out our full list of calculators to explore your options.