Enter values and select Calculate to see your result.
Monthly Principal & Interest
Enter the home loan amount, interest rate, and term to estimate the monthly principal-and-interest payment.
View formula
Monthly payment uses the standard fixed-rate amortization formula.
How to use the Mortgage Calculator
Estimate a fixed-rate mortgage's principal-and-interest payment from amount, rate and term.
- Enter mortgage amount, annual rate and term.
- Calculate the principal-and-interest payment.
- Add taxes, insurance and HOA costs separately for a full budget.
Mortgage Calculator formula
Fixed-rate mortgage payment applies monthly amortization to amount, rate and payment count.
Worked example
Inputs: $300,000 at 6.5% for 30 years.
What to expect: Principal-and-interest payment is approximately $1,896 per month before taxes, insurance and HOA.
How to read your result
A payment is only one part of housing cost; maintenance and closing costs also affect affordability.
Frequently asked questions
Does it include property tax?
No. It estimates principal and interest only.
Can I compare 15 years?
Yes. A shorter term usually costs more monthly but less total interest.