Mortgage Calculator
Calculate monthly mortgage payments with taxes, insurance, PMI, and amortization schedule.
Monthly Payment
$2,022.62
Free Mortgage Calculator
Estimate your monthly mortgage payment by entering the home price, down payment amount, loan term, and interest rate. Include optional property tax and home insurance estimates for a complete monthly housing cost picture. If your down payment is less than 20%, PMI (Private Mortgage Insurance) typically applies until you reach 20% equity.
The monthly payment formula is M = P[r(1+r)^n] / [(1+r)^n - 1], where P is the loan principal, r is the monthly interest rate (annual rate divided by 12), and n is the total number of payments. This calculator provides estimates — actual payments vary based on lender terms, escrow arrangements, and other factors. Consult a licensed mortgage professional for personalized advice.
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