Enter home price, down payment, and rate to get your monthly principal-and-interest payment and total interest.
Monthly payment first, then the full loan cost.
Estimated Monthly Housing Cost
$1,077.71
P&I $1,077.71/mo at 3.5%
Loan payment plus the costs entered below
Next: estimate closing costs and prepaids so you know total cash needed at signing.
On a $300,000.00 home with $60,000.00 down, you borrow $240,000.00. Your 20% down payment avoids PMI on most conventional loans.
Monthly payment breakdown
Payment Breakdown
Total paid: $387,975.60.
Monthly payment breakdown
Payment Breakdown
Total paid: $387,975.60.
Enter home price, down payment, interest rate, and loan term. Add property taxes, homeowners insurance, mortgage insurance, and HOA dues if they apply; leaving a cost at zero leaves it out of the displayed housing total.
The calculator subtracts the down payment from the price, then amortizes that loan over the entered fixed rate and term to estimate monthly principal and interest. It converts annual taxes and insurance to monthly amounts and adds them with mortgage insurance and HOA dues to the housing total.
Read principal and interest separately from the fuller monthly housing estimate. A longer term may reduce the payment while increasing total interest. The result excludes maintenance and closing costs; compare a lender's Loan Estimate for actual loan terms.
The loan payment assumes a fixed rate and regular on-time payments. Tax, insurance, and HOA amounts are the values you enter; those charges may change during the loan.
Sources: CFPB: Loan Estimate explainer