Mortgage Payment Calculators & Tools
Financial Education Series
Calculate Your Mortgage Payments
Understanding your potential mortgage payments is crucial for budgeting and financial planning. Use our calculators to estimate your monthly payments and total costs over the life of your loan.
Why This Matters
Your mortgage payment is likely your largest monthly expense. Understanding all components of your payment helps you budget effectively and avoid financial stress. Small differences in interest rates or loan terms can significantly impact your total costs.
Mortgage Payment Components
Principal & Interest (P&I)
Principal
The amount you borrow to purchase your home. This is paid back over the life of your loan.
Interest
The cost of borrowing money, expressed as a percentage rate. This is the lender's profit.
Amortization
The process of paying off your loan through regular payments. Early payments are mostly interest, while later payments are mostly principal.
Additional Costs (T&I)
Property Taxes
Annual taxes paid to local governments, typically collected monthly through escrow.
Insurance
Homeowners insurance and, if required, mortgage insurance (PMI or MIP).
Escrow
An account managed by your lender to pay property taxes and insurance premiums.
Government Resources
Official Calculators & Tools
Consumer Financial Protection Bureau (CFPB)
The CFPB provides official mortgage calculators and educational resources to help you make informed decisions.
Department of Housing and Urban Development (HUD)
HUD offers resources for homebuyers, including calculators and guides for FHA loans.
Next Steps
Ready to learn more about your mortgage options? Explore our guides ondifferent mortgage typesandclosing coststo make an informed decision about your home purchase.
This content is educational in nature and updated as of 2025. We aim to relay factual financial information, similar to how a newspaper would report market data. For complete information about our services, please review our Terms of Service.