Tool: Mortgage calculator · Embed · All how-we-calculate pages · Questions
Purpose
Estimate monthly principal and interest for a fixed-rate loan from home price, down payment, rate, and term. Optional tax, insurance, and HOA fields are user-typed add-ons. Educational only.
Core model
- Loan amount = home price − down payment
- Monthly rate
r = annual rate ÷ 100 ÷ 12 -
P&I payment (r > 0):
P × r × (1+r)^n / ((1+r)^n − 1)with n = years × 12 - If rate is 0: payment = loan amount ÷ n
- Total housing / month = P&I + tax + insurance + HOA (when entered)
What we intentionally leave out
- Live rates, points, and lender fees
- Automatic PMI / MIP calculations
- Closing costs, prepaids, and cash-to-close
- ARM/reset schedules and balloon products
- Underwriting approval or ability-to-repay determinations
Official consumer context
For consumer mortgage education, see CFPB mortgage tools.
Last reviewed: August 9, 2026.
YMYL notice: This site is for education only. It is not financial, tax, or investment advice. Nestfigure is not a bank, credit union, broker, investment adviser, or fiduciary. Product terms, rates, and penalties vary—always read your institution’s disclosures before acting. Calculator results are mathematical estimates, not bank quotes.