Calculate your mortgage payments with our comprehensive US mortgage calculator. Include property taxes, PMI, insurance, and compare 15 vs 30-year loans instantly.
Last updated: November 1, 2025
This calculator uses the standard amortization formula to calculate monthly mortgage payments. It takes into account the loan principal, interest rate, loan term, and country-specific costs to provide accurate payment estimates.
Follow these steps to get accurate mortgage calculations:
The calculator uses the standard amortization formula to compute your monthly payment:
The formula calculates your fixed monthly payment that covers both principal and interest over the loan term.
M = P × [r(1+r)^n] / [(1+r)^n - 1]For most countries, the monthly rate is simply the annual rate divided by 12.
Your complete monthly payment includes several components:
The total amount you pay each month consists of multiple parts that vary by country:
The base payment that pays down your loan and covers interest charges.
US mortgages often include PMI, property taxes, and homeowners insurance in the monthly payment.
US mortgages include principal, interest, property taxes, and homeowners insurance. PMI is required for down payments less than 20%. Escrow accounts collect taxes and insurance monthly. Government-backed loans (FHA, VA) offer lower down payment options for qualified borrowers.
US mortgages offer flexible down payment options depending on loan type and credit profile.
Required when down payment is less than 20% of the home purchase price.
Annual taxes based on property value, collected monthly through escrow account.
Required by lenders to protect the property investment.
Lender-managed account that collects property taxes and insurance monthly.
Loan term significantly impacts monthly payment and total interest cost.
The percentage of home value you're borrowing - lower LTV means better rates.
The calculator provides several important metrics to help you make informed decisions:
Understanding the breakdown of your monthly and total costs helps you plan your budget and compare loan options.
Key ratios and schedules that help you understand your mortgage structure and payment progression.
The percentage of the home value you're borrowing. Lower LTV typically means better rates.
A month-by-month breakdown showing how each payment is allocated.
Monthly mortgage payment is calculated using the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P is the principal loan amount, r is the monthly interest rate, and n is the total number of payments. This covers principal and interest only.