Example 1 — Typical mortgage
- Amount: 400,000
- Rate: 7%
- Term: 25 years
Payment 2,827.12
Total 848,135.04
Interest 448,135.04
A classic scenario: at 7% over 25 years, interest ends up exceeding the amount borrowed.
Mortgage calculator — monthly payment
See your mortgage payment plus what owning actually costs each month — tax, insurance, HOA included. Got a price and down payment? We'll throw in the loan amount and LTV too.
We calculate the payment (principal + interest), and if you want, layer in realistic housing costs: property tax, home insurance, and HOA/admin. From price and down payment you'll get the loan amount and LTV. Extra payments show a lightweight savings estimate versus the base schedule — the full table lives in a separate calculator.
Result
Enter data and click Calculate.
How results are calculated
Payment (P+I) = annuity from principal, annual rate, and term (monthly).
Housing cost = payment + tax/12 + insurance/12 + HOA.
With price and down payment: loan = price − down, LTV = loan ÷ price × 100%.
Total paid / interest come from a light simulation (optional monthly extra) — the full table lives in the amortization schedule calculator.
How to use the calculator
- Enter the loan amount (or later price and down payment), annual interest rate (%), and term in years.
- Optionally open Additional options: price/down, annual tax and insurance, monthly HOA, extra payment, start date.
- Compare P+I with total housing cost, and LTV when price is set.
- For a detailed schedule with extras, open the amortization schedule calculator.
Usage examples
Example 2 — Price, down payment, housing costs
- Price 500,000, down 100,000 (LTV 80%)
- 6.5%, 30 years
- Tax 6,000/yr, insurance 2,400/yr, HOA 250/mo.
Payment ≈ 2,528
Housing ≈ 3,478
LTV 80%
The mortgage payment alone is not the full budget — tax, insurance, and HOA raise the monthly cost.
Example 3 — With monthly extra
- Amount: 250,000
- 8%, 20 years, start Jan 1, 2026
- Extra +300/mo.
Lower interest vs base
Shorter payoff term
A light comparison versus no extras — open the amortization schedule for the full table.
How to read this calculator
- This calculator combines the mortgage instalment with the broader context of housing cost, so the result is wider than the pure principal-and-interest payment alone.
- If you enter the property price and down payment, you can also see how the financing setup relates to concepts such as LTV.
- If you need a simple cash-loan style payment without the property context, the simpler Loan instalment calculator is a better fit.
Related concepts
- A mortgage instalment is not always the same as the full monthly housing cost if taxes, HOA/service charges, insurance, or other fixed costs are added.
- LTV describes the loan-to-value relationship, while creditworthiness describes whether that financing level is realistic for your budget.
FAQ
What's an equal (amortizing) payment?
It's the usual schedule: the payment stays the same for the whole term, but the mix of principal and interest inside it shifts — mostly interest early on, mostly principal near the end.
Why is total interest so high over 25–30 years?
Interest accrues on the outstanding balance every month, and over a long term the balance falls slowly at first. A longer loan means more months of interest accrual, even at a lower monthly payment.
What changes if I enter property price and down payment instead of loan amount?
The calculator computes the financed amount as price minus down payment and uses that instead of the "Loan amount" field. Handy when you know the property price and have a down payment already planned.
Is this an APR calculation?
No — you can add housing costs (tax, insurance, HOA) for a realistic monthly budget, but that's not a lender's APR/APRC. For fee-heavy offer comparisons, try the total cost of loan calculator instead.
What about low-down-payment insurance and origination fees?
Bank origination and mortgage insurance (PMI/MI) are not separate fields here. The insurance field is annual homeowner’s insurance. Compare fee-heavy offers in the total cost of loan calculator.
Fixed or variable rate?
The calculator assumes a fixed rate for the whole term. With a variable rate (e.g. index + margin), the real payment will move as reference rates change.
How would overpaying affect this loan?
Under Additional options, enter a monthly extra — you’ll see interest saved and a shorter term. For a full month-by-month table, open the amortization schedule calculator.
Where does the currency come from?
Calcboxer sticks to one currency across the whole page, so switching it in the header instantly reformats the result — no mixing currencies in the same view.