Mortgage Calculator
Estimate your monthly mortgage payment, taxes, insurance, PMI, HOA fees and total interest.
Educational estimate only. This is not financial, investment, tax, legal or lending advice, a quote or a guarantee. Read the disclaimer.
Your inputs
| Month | Payment | Principal | Interest | Balance |
|---|
Showing the first 12 scheduled payments.
How this calculator works
P is the loan amount, r is the annual interest percentage ÷ 100 ÷ 12, and n is the term in years × 12. Monthly housing cost adds annual property tax ÷ 12, annual insurance ÷ 12, monthly HOA and monthly PMI to M. Interest is M × n − P. Total paid includes these entered housing costs for the entire term, assumes they stay constant, and does not stop PMI automatically. Closing costs, down payment, maintenance, rate changes and lender escrow adjustments are excluded. The table previews up to the first 12 payments; it is not a full amortization schedule.
Dollar results are in USD and generally rounded to the nearest whole dollar; salary equivalents and percentage outputs use two decimal places. Calculations retain JavaScript floating-point precision between steps rather than rounding every payment to cents. Displayed components may not sum exactly to displayed totals. Payoff times use whole monthly payment periods. Defaults are examples, not current rates or recommendations.
Full methodology · About the publisher and corrections
Content and calculation checks: October 12, 2026. Educational estimates; no independent professional certification is claimed.
Worked example: $400,000 mortgage at 6.5%
Using the default example — a $400,000 loan, 6.5% fixed rate and 30-year term — principal and interest is about $2,528 per month. Adding $6,000 per year in property tax and $1,800 per year in homeowners insurance raises the modeled monthly housing payment to about $3,178 before any HOA dues or PMI.
Over 30 years, the model estimates about $510,178 in interest. That comparison shows why even a modest change in rate, loan amount or term can materially change lifetime borrowing cost.
Practical guide
What to compare before choosing a mortgage
- Rate: compare the same loan amount and term at several interest rates.
- Term: shorter terms usually increase the monthly payment but can reduce lifetime interest.
- Non-loan housing costs: include realistic property tax, insurance, HOA and PMI estimates rather than comparing principal and interest alone.
- Cash needs: this calculator does not include closing costs, maintenance or the down payment itself.
For the purchase-price side of the decision, use the Home Affordability Calculator. If you already have a mortgage, compare extra-payment scenarios with the Mortgage Payoff Calculator.
How to use the result
Change one assumption at a time to compare scenarios. For example, test a lower rate, larger contribution, different term or extra payment. This makes the calculator most useful as a decision-support tool rather than a single-number answer.
Important financial decisions can depend on taxes, fees, eligibility rules, lender policies, market returns and personal circumstances that this simplified calculator does not capture.
Frequently asked questions
Is this mortgage calculator free?
Yes. SumStride calculators are free to use and do not require an account.
Are the results exact?
No. Results are estimates based on the values you enter and the assumptions described on this page. Real-world fees, taxes, rates, policies and timing can differ.
Does SumStride save my inputs?
No account is required. The calculator runs in your browser; SumStride does not need your entered values to perform the calculation.