Calculate your mortgage payment in a few quick steps.
Fill in the home price and your down payment amount (or percentage, if available).
Choose the loan term in years (for example, 15 or 30 years).
Enter the annual interest rate offered by your lender.
Check the monthly payment and the amortization schedule to understand principal vs. interest over time.
Your monthly payment is calculated from the loan amount, interest rate, and loan term using the standard amortization formula.
Most mortgage payments include principal and interest. Depending on your situation, you may also pay property taxes, homeowners insurance, and PMI.
An amortization schedule shows how each payment is split between interest and principal, and how your remaining balance changes over time.