Mortgage payment calculator.

Start with the price and the down payment. Tap $ or % to enter the down payment as a dollar amount or as a percent of the price. The other figure shows under the box. Then enter the interest rate and pick a 15, 20 or 30 year term. Use the interest rate, not the APR. The APR folds in fees, so it runs a little higher.

Principal and interest is the part that pays back the loan. It uses the standard fixed-rate formula and stays the same every month. Early on most of it is interest. Over time more of each payment goes to principal, which is why the balance falls slowly at first and faster later.

Property tax, homeowners insurance and HOA dues sit on top of the loan payment. Many lenders collect tax and insurance each month in an escrow account and pay the bills for you, so they show up in your monthly total. Enter yearly amounts for tax and insurance and the calculator divides by 12. Look up the real tax bill for the home when you can, because it can differ a lot from one home to the next.

PMI, private mortgage insurance, usually applies to conventional loans when the down payment is under 20%. The default here is 0.5% of the loan per year. Real rates often fall between about 0.3% and 1.5% and depend on credit score, down payment and the loan program. FHA, VA and other loans have their own fees. The calculator also estimates the month the balance reaches 78% of the price, when PMI on many conventional loans ends automatically.

Total interest is what you would pay over the full term if you make every scheduled payment and never pay extra. The payoff date is the date of the last scheduled payment, counted from the first payment date you choose.

Everything runs in your browser and nothing is sent or saved. Your actual numbers come from a licensed lender's Loan Estimate.