Our free mortgage calculator helps you estimate your monthly mortgage payment instantly. Enter your home price, down payment, interest rate, and loan term into this mortgage calculator to see your principal, interest, taxes, and insurance breakdown — updated for 2026.
This mortgage calculator uses standard amortization formulas to break down every payment. According to the Consumer Financial Protection Bureau, understanding your mortgage payment components helps you make smarter home-buying decisions.
🏠 Mortgage Calculator
Estimate your monthly payment including principal, interest, taxes & insurance
Monthly Payment Breakdown
| Year | Beginning Balance | Principal Paid | Interest Paid | Ending Balance |
|---|
📊 Mortgage Key Statistics
- The average 30-year fixed mortgage rate in the U.S. is 6.81% as of May 2026 (Source: Freddie Mac)
Using our mortgage calculator is straightforward. Enter your loan amount, interest rate, loan term, and down payment. The mortgage calculator instantly shows your estimated monthly payment plus total interest paid over the life of the loan.
How accurate is this mortgage calculator?
This mortgage calculator uses the same amortization formula that lenders use. Enter your exact rate and term for precise estimates from our free mortgage calculator.
Does the mortgage calculator include taxes and insurance?
Yes. Our mortgage calculator includes optional fields for property taxes and insurance (PMI), giving you a complete monthly payment estimate.
Can I use this mortgage calculator to compare loan terms?
Yes — run the mortgage calculator with a 15-year term, then again with 30 years to compare total interest costs. Most homebuyers save $100,000+ by choosing the shorter term.
Also explore our biweekly mortgage calculator to see how paying every two weeks saves interest, our Texas mortgage calculator and Florida mortgage calculator for state-specific estimates, and our mortgage payoff calculator to plan early payoff.
More Free Mortgage Calculators
Not sure which number to look up first? These are the tools homeowners use most after calculating their base payment:
- Biweekly Mortgage Calculator — See how biweekly payments cut years off your loan and save tens of thousands in interest.
- Mortgage Payoff Calculator — Enter any extra monthly payment and find your exact payoff date.
- California Mortgage Calculator — Includes Prop 13 property tax, Mello-Roos, and HOA for all 58 counties.
- FHA Loan Calculator — Estimate your FHA payment with MIP and compare against conventional.
- VA Loan Calculator — Calculate VA loan payments with the VA funding fee included.
New York Mortgage Calculator — Mansion tax, NYC MRT, borough payments built in
🕐 Last Updated: July 11, 2026