Mortgage Payment Calculator
What a purchase would cost each month, broken into its parts — so you can see which part is actually driving the number.
Most people are surprised by how much of the payment is not the loan.
At a glance
- Parts of the payment
- 4
- Interest rate
- You enter it
- Taxes, insurance and HOA
- Your figures
- What you type
- Not stored
What you enter
Home price
Down payment As an amount or a percentage
Interest rate You supply this. Use a rate from a quote you already have, or a figure you want to test
Loan term In years
Monthly property tax Your figure, not an estimate from us
Monthly insurance
Monthly HOA Leave at zero if there is none
What you get back
- The total monthly payment
- Split into principal and interest, property taxes, insurance, and HOA
- An amortization schedule, if you want to see how the balance falls over time
Run the numbers
What a purchase would cost each month, broken into its parts.
Estimated monthly payment
—
Fill in the home price, the rate and the term. The payment updates as you type.
- Loan amount
- —
- Principal and interest
- —
- Property tax
- —
- Insurance
- —
- HOA
- —
- Total monthly payment
- —
For illustrative and educational purposes only. Results produced by this calculator perform arithmetic based solely on numbers you enter and do not reflect actual loan offers, interest rate quotes, or commitments to lend. Actual loan terms, payments, interest rates, and approval depend on complete underwriting, credit review, property valuation, and lender guidelines. Loankey.io arranges loans through third-party lenders; loans are not funded directly by Loankey.io.
How to read the result
The early payments are mostly interest. That is how amortization works, not a quirk of any particular loan. The schedule shows it plainly.
Principal and interest is the only part the loan controls.
Taxes, insurance and HOA are the property's costs and they arrive whatever you borrow. On many California purchases they are a substantial share of the monthly figure, and they are the part people leave out when working out affordability in their head.
This is not a qualification test.
A lender measures your total monthly obligations against your income — the payment above plus your other debts. That calculation, not this one, is what limits most conventional borrowers. It is covered on Full Documentation.
Frequently Asked Questions
Why do I have to enter the interest rate myself?
Because this site publishes no rates. Filling out a rate for you is advertising one, which brings federal disclosure requirements with it. Use a figure from a quote you have, or test a range to see how sensitive the payment is.
Why do you not estimate property tax from the address?
Because an estimate we supply becomes a figure we are responsible for. California property tax varies by assessment, by district and by special levies, and a plausible-looking wrong number is worse than an empty field. Use the actual figure from the listing or the county.
Does this include mortgage insurance?
No. Where a loan requires it, it is an additional monthly cost and it depends on the program, the down payment and your credit. Ask at the scenario analysis rather than assuming this figure is complete.
Does it include closing costs?
No. This is the recurring monthly payment only. Closing costs are one-off and are disclosed in writing on any loan you proceed with.
What is PITI?
Principal, Interest, Taxes and Insurance — the four parts of a typical payment. Add HOA and it is sometimes written PITIA. The breakdown above is exactly that.
Does a bigger down payment lower the payment?
Yes, by reducing the amount borrowed, and it can also affect the program and the terms available. Test a few figures and see.
Is my information saved?
No. The calculation runs in your browser. Nothing you type is stored or sent anywhere.
Does this tell me what I can afford?
No. It tells you what a given payment would be. Affordability depends on your income, your other obligations, your reserves and the program — which is a conversation, not a calculation.
What to do with the number
If the payment works, the next question is which program you fit and what it asks of you.
Request a Scenario Analysis · (256) 573-3733
Read more: Full Documentation · Conventional Loans · FHA Loans · Down Payment Assistance
Request a Scenario Analysis
Most people are surprised by how much of the payment is not the loan.
Nothing on this page or website constitutes an offer of credit, a rate quote, or a commitment to lend. All loans are arranged through third-party lenders and are subject to full application, credit approval, income/asset verification, property appraisal, and underwriting. Terms and availability are subject to change without notice. Loankey.io is a licensed real estate broker; loans are arranged, not made. Investor and business-purpose lending nationwide. Owner-occupied home loans in California.