Mortgage Calculator
Estimate your monthly mortgage payment including principal, interest, property taxes, and insurance. Adjust the inputs to explore different scenarios.
Loan Details
$70,000 down · $280,000 loan
Estimated Monthly Payment
Payment Breakdown
Principal vs Interest
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Compare Real Rates→How to Use This Mortgage Calculator
Our free mortgage calculator helps you estimate your monthly house payment including principal, interest, property taxes, and homeowners insurance (often called PITI). Simply enter the home price, your down payment percentage, the interest rate, and loan term to get an instant estimate.
Understanding Your Results
Principal & Interest is the core of your monthly payment. The principal is the amount you borrowed, and interest is what the lender charges for the loan. With a fixed-rate mortgage, this amount stays the same every month, though the split between principal and interest shifts over time (more interest early on, more principal later).
Property Taxvaries widely by location — from under 0.5% of home value in some states to over 2% in others. Check your county assessor's website for local rates. Most lenders collect property tax monthly and pay it on your behalf through an escrow account.
Homeowners Insuranceprotects your investment against damage and liability. Costs depend on your home's value, location, and coverage level. The national average is roughly $1,200–$1,500 per year.
Tips to Lower Your Monthly Payment
- Increase your down payment to reduce the loan amount and potentially avoid PMI (private mortgage insurance, typically required below 20% down)
- Shop for a lower interest rate — even 0.25% can save thousands over the life of the loan
- Choose a longer loan term (30 years vs. 15 years) for lower monthly payments, though you'll pay more interest overall
- Improve your credit score before applying — borrowers with scores above 740 typically qualify for the best rates
- Compare offers from multiple lenders — rates can vary significantly
Current Mortgage Rate Trends (March 2026)
As of March 2026, average 30-year fixed mortgage rates are in the 6.5%–7.0% range. Rates fluctuate based on the Federal Reserve's monetary policy, inflation data, and bond market conditions. Use the rate slider above to see how different rates affect your payment.