Mortgage Calculator

Calculate monthly mortgage payments, total interest, amortization schedule, and affordability with comprehensive financial analysis

Loan Details

Home Purchase Price ($)

Down Payment ($)

20.0% down • Loan: $240,000

Interest Rate (% APR)

Current avg: 6.5-7.5%

Loan Term (Years)

Additional Monthly Costs

Annual Property Tax ($)

$250/month

Annual Home Insurance ($)

$100/month

Monthly HOA Fees ($)

Financial Information

Annual Gross Income ($)

Used to calculate debt-to-income ratio

How to Use

Step 1: Enter Home Price: Input the purchase price of the home you're considering

Step 2: Set Down Payment: Enter your down payment amount (recommend 20% to avoid PMI)

Step 3: Input Interest Rate: Enter the annual interest rate (APR) offered by your lender

Step 4: Choose Loan Term: Select mortgage duration (typically 15 or 30 years)

Step 5: Add Property Costs: Include annual property tax, insurance, and HOA fees

Step 6: Enter Income: Provide your annual income to calculate debt-to-income ratio

Step 7: Calculate & Review: See monthly payment breakdown, amortization schedule, and recommendations