Mortgage Calculator: Monthly Mortgage Payments

How much will my payments be?

Understanding your monthly mortgage payments will help prepare you for living in—and paying off—your dream home. Keeping home loan payments to 25% or less of your monthly income is generally the best idea.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended as a solicitation for any credit product or to provide credit advice. Calculators and input options are intended solely for general information and educational purposes. Calculations are hypothetical, and based on information and assumptions provided by you. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. You should not take any action on the basis of the information provided through this calculator. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

How to use this calculator

Basic: 

Simply enter the amount you anticipate borrowing for your home and the expected interest rate, and the mortgage calculator will show you about how much your monthly payments will be. You can also quickly compare how different loan amounts and interest rates will affect your monthly payment.

To keep your mortgage payments as low as possible, also consider the term of the loan. A 30-year loan will have a lower monthly payment than a 15-year loan, but you’ll end up paying more interest over the 30-year period.

Advanced: 

If you want a more accurate snapshot of your monthly payment, enter your average yearly property tax and homeowner’s insurance payment.