The Mortgage Payment Calculator
Your true monthly payment: principal, interest, taxes, and insurance, not just the sticker.
Before you fall in love with a house, find out what it actually costs to own each month. The loan payment is only part of it. Taxes and insurance ride along too. Put in the numbers and see the real monthly payment, not the one a listing hints at.
The Mortgage Payment Calculator
Get your true monthly payment: principal, interest, taxes, and insurance.
A rule of thumb: keep the whole payment near 28% of your gross monthly income or less. And remember the extras a mortgage does not show: maintenance runs about 1% of the home's value a year, and with less than 20% down you usually pay PMI on top until you build enough equity.
The payment is only half the story
Two houses at the same price can cost wildly different amounts to own, because property taxes and insurance swing a lot by location. That is why a real monthly number matters more than the sticker price. Run a few scenarios here. Bump the down payment, shorten the term, nudge the rate, and watch how each one moves the payment. It is the fastest way to see what you can truly afford.
Why a bigger down payment does double duty
Putting more down shrinks the loan, which lowers the payment, and once you cross 20% down it usually kills PMI, which saves you more on top. If a stretch to 20% is possible without draining your emergency fund, it is often one of the best-value moves in the whole home-buying process.
This is general education, not personal or lending advice, so check with a licensed professional about your situation.
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