Mortgage Calculator

Estimate your monthly mortgage payment and the full breakdown of carrying costs — principal & interest, property tax, home insurance, PMI, HOA, and other recurring expenses.

Your Result

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ResultWhat it means?
< $800 / moComfortableMonthly principal & interest is well within typical housing budgets.
$800 – $1,500 / moModerateMonthly principal & interest is in line with median housing costs in many markets.
$1,500 – $2,500 / moStretchedMonthly principal & interest is high — lenders may flag the debt-to-income ratio.
> $2,500 / moUnaffordableMonthly principal & interest exceeds typical affordability guidelines.
—Out of rangeEnter values above to see your monthly payment and its interpretation.

Mortgage Formula

M=L · r(1+r)ⁿ ⁄ ((1+r)ⁿ − 1)

Standard fixed-rate amortizing payment formula. M = monthly payment, L = loan amount, r = monthly interest rate, n = number of monthly payments.

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