Mortgage calculator
Enter a price, down payment, rate and term to see the monthly payment and what the loan costs over its life. Change any number and the results update.
Results
Save it and go deeper
A full analysis adds every expense, a 30-year projection, what-if sliders, a PDF report and a link to share with partners.
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A $400,000 home with 20% down on a 30-year loan at 6.5%, with $4,800 a year of property tax and $1,800 of insurance.
- Home price
- $400,000
- Down payment
- 20%
- Interest rate
- 6.5%
- Loan term
- 30 years
- Property tax
- $4,800/yr
- Insurance
- $1,800/yr
- HOA
- $0/mo
- PMI
- $0/mo
- Monthly payment
- $2,573
- Principal and interest
- $2,023
- Loan amount
- $320,000
- Total interest
- $408,142
Principal and interest are $2,023 a month, and $2,573 with tax and insurance. Over the full term the loan costs $408,142 in interest, more than the $320,000 borrowed.
How it's calculated
- Principal and interest
- The fixed payment that pays off the loan over the term: loan × r(1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), where r is the yearly rate ÷ 12 and n the number of months.
- Monthly payment
- Principal and interest plus a month of property tax and insurance, HOA dues and PMI.
- Total interest
- Every principal-and-interest payment over the term, minus the amount borrowed.
What's a good result?
For a rental, the rent should cover the whole monthly payment with room left for vacancy, repairs and management; the rental property calculator checks that for you.
Questions
When do I pay PMI?
Usually when you put less than 20% down on a conventional loan. It's often 0.3–1.5% of the loan a year and can be removed once you reach enough equity.
Are rates different on an investment property?
Usually yes: lenders often charge more and ask for 15–25% down on rentals than on a home you'll live in.
What does the full analysis add?
The payment in context: rent, every expense and reserve, cash flow, returns, a 30-year projection with loan paydown, and a PDF report.
Learn more: Long-term rentals. More calculators: Rental property · Airbnb · Fix & flip · BRRRR · Cap rate · Cash-on-cash return · 70% rule