How to use Mortgage Calculator
- Enter home price, down payment, rate, and term.
- Add taxes/insurance if you want a PITI-style estimate.
- Review monthly payment and total interest.
Worked examples
Concrete numbers and cases you can check against the tool above.
$400,000 at 6.5% for 30 years
Principal & interest is about $2,528 per month before taxes and insurance. Over 360 payments you would schedule ~$510,000 in interest if you never prepay. A 15-year term at the same rate jumps the payment (about $3,484 P&I) and slashes interest. Add estimated tax/insurance to compare against rent.
When to use Mortgage Calculator
Home shopping hinges on payment comfort, not just list price. Estimating P&I plus taxes and insurance gives a fuller monthly picture.
Common use cases
- Ballpark payments at different down payment levels.
- Compare 15-year vs 30-year tradeoffs.
- Include escrow-style tax and insurance estimates.
- Check affordability before touring listings.
Inputs and outputs
- Home price, rates, terms, tax/insurance amounts
Privacy
This tool runs entirely in your browser. Your data never leaves your device — nothing is uploaded to our servers.
Frequently asked questions
- What is P&I?
- Principal and interest — the loan payment portion before taxes, insurance, or HOA fees.
- Are estimates guaranteed?
- No. Actual quotes depend on credit, fees, escrow, and lender rules.
- Is my data private?
- Yes. Numbers never leave your browser.