Every Dollar Grows Home Tools

Home Mortgage Calculator

Calculate a mortgage payment, estimate how much home you can afford, compare renting vs. buying, test extra payments, evaluate a refinance, or compare two home loans side by side.

Mortgage Payment Calculator

Start with the basics. Open Advanced Options only if you need them.

Home price

Down payment

Interest rate

Loan term

Custom term (years)

Loan type

Property state

Taxes, insurance & escrow

Don’t know the exact numbers yet? Select a state and the calculator can create a planning estimate. Replace the estimate anytime with your actual tax bill or insurance quote.

Property tax method

Home insurance method

Property tax — annual

Homeowners insurance — annual

Select a state to estimate property taxes and homeowners insurance.

Advanced payment costs

HOA — monthly

Mortgage insurance — monthly

Upfront financed fee

Extra principal — monthly

One-time extra principal

First payment date

For FHA, VA, USDA, or lender-specific insurance/fees, enter the amount shown on your Loan Estimate. This avoids pretending one rule applies to every borrower.

Estimated monthly housing payment

Principal & interest Taxes Insurance HOA / mortgage insurance

Standard mortgage payment (P&I)$0

Estimated monthly escrow$0

Property tax / month$0

Home insurance / month$0

Mortgage insurance / month$0

HOA / month$0

Loan amount$0

Total interest$0

Payoff date—

Actual-payment estimate: P&I + estimated escrow + mortgage insurance + HOA. Utilities, maintenance, repairs, special assessments, and optional services are not included.

Add an extra monthly payment to see potential interest and time savings.

View amortization schedule

Month	Payment	Principal	Interest	Balance

Home Affordability Calculator

Estimate a comfortable home-price range from income, debts, down payment, and your preferred payment limit.

Gross household income — monthly

Monthly debt payments

Available down payment

Interest rate

Loan term

Target total DTI

Taxes, insurance & HOA assumptions

Property tax rate — annual %

Home insurance rate — annual % of value

HOA — monthly

Mortgage insurance — monthly estimate

Estimated maximum home price

Maximum housing payment$0

Estimated loan amount$0

Debt-to-income used0%

Down payment$0

Affordability is not approval. Lenders also consider credit, reserves, loan rules, taxes, insurance, and property-specific costs.

Rent vs. Buy Calculator

Compare estimated total cost over the time you expect to stay in the home.

Monthly rent

Annual rent increase %

Home price

Down payment

Mortgage rate %

Loan term

Years before moving

Home appreciation % / year

Advanced ownership and renting costs

Property tax % / year

Insurance % / year

Maintenance % / year

HOA / month

Buyer closing costs %

Selling costs %

Renters insurance / month

Investment return on renter savings %

Lower estimated net cost

—

Estimated net cost to rent$0

Estimated net cost to buy$0

Estimated home equity at move$0

Difference$0

Change the assumptions to match your real situation. Small changes in appreciation, rent growth, maintenance, and selling costs can change the result.

Mortgage Extra Payment Calculator

See how recurring or one-time principal payments change payoff time and total interest.

Current mortgage balance

Interest rate %

Remaining term — years

Extra monthly principal

One-time extra principal now

Additional annual lump payment

Estimated interest saved

Normal monthly P&I$0

New payoff time—

Time saved—

New total interest$0

Mortgage Refinance Calculator

Compare your current loan to a proposed refinance, including closing costs and break-even time.

Current balance

Current rate %

Years remaining

New rate %

New term — years

Refinance closing costs

Finance closing costs?

Expected years before sale/refi

Estimated monthly P&I savings

Current P&I$0

New P&I$0

Break-even—

Net savings over horizon$0

A lower monthly payment can still cost more overall if the loan term is reset for many additional years.

Compare Two Mortgage Loans

Compare rate, term, points/fees, monthly principal and interest, total interest, and estimated cash needed.

Loan A

Loan amount

Interest rate %

Term years

Points / lender fees

Loan B

Loan amount

Interest rate %

Term years

Points / lender fees

Measure	Loan A	Loan B
Monthly P&I	—	—
Total interest	—	—
Fees / points	—	—
Total financing cost	—	—
Effective cost difference	—	—

Enter two offers to compare them.

Plan the Rest of Your Monthly Budget

A home payment is only one part of the decision. Use these Every Dollar Grows guides and calculators to make sure the rest of your finances can support it.

Build a Budget That Works Put the mortgage or rent payment into a complete monthly plan for income, bills, spending, saving, and debt. Open the Budgeting Guide → Calculate Your Checking Buffer Estimate how much should stay in checking to cover upcoming bills, everyday spending, and a protected cash cushion. Use the Checking Calculator → Build an Emergency Fund Create a starter cash reserve before unexpected repairs or other expenses turn into new debt. Build Your First $1,000 → Explore More Free Calculators Continue planning with EDG tools for budgeting, saving, debt, investing, and everyday financial decisions. View All Calculators & Tools →

What this home mortgage calculator includes

This calculator can estimate principal and interest, state-based property taxes, homeowners insurance, monthly escrow, HOA dues, mortgage insurance, financed fees, extra payments, amortization, home affordability, rent vs. buy costs, refinance break-even, and side-by-side loan comparisons. It clearly separates the standard mortgage payment from the estimated all-in monthly housing payment.

Important: Results are estimates for planning and education, not a loan quote, appraisal, tax calculation, insurance quote, legal advice, or financial advice. Actual lender calculations can vary because of loan program rules, escrow requirements, daily interest, fee treatment, mortgage-insurance rules, and rounding.