Mortgage Payment Calculator

Start from a purchase price and down payment, then add your own monthly property costs to the estimated loan payment. Enter zero for a cost that does not apply.

Enter all amounts in one currency. Currency selection changes labels, not amounts or jurisdiction. No conversion is performed.

Mortgage interest scenarios use the stated monthly-rate approximation. Selecting CAD does not apply Canadian semiannual mortgage compounding; use lender terms to check an actual mortgage quote.

Range: 0–1,000,000,000
Range: 0–1,000,000,000
Range: 0–100
Range: 1–600; whole numbers
Range: 0–1,000,000,000
Range: 0–1,000,000,000

Enter your values to see an estimate. Enter 0 for amounts that do not apply.

How this calculator works

Loan principal is home price minus down payment. A nominal annual percentage is divided by 12 for the monthly rate. The payment amortizes principal over the entered term; at 0%, payment is principal divided by months. Entered monthly taxes, insurance and HOA costs are added to the payment estimate. Closing fees are paid in cash and added to total loan cost.

Worked example

A 140,000 home with 20,000 down creates a 120,000 mortgage. At 0% for 120 months, principal and interest is 1,000 monthly. With 300 in property costs, the entered housing-payment estimate is 1,300.

Assumptions and limits

Assumes equal monthly payments, a constant rate and full amortization. Actual payment rounding and lender conventions can differ. No approval, tax deduction or lender rate is promised. Taxes, mortgage insurance, property insurance and HOA charges are user inputs, not calculated from location or loan-to-value. Recurring property costs are excluded from the loan-only lifetime total; no Canadian semiannual rate convention is modeled.

How to choose your inputs

Separate purchase price, cash down payment and closing fees. For the recurring property-cost input, combine taxes, property or mortgage insurance and association charges you expect to pay, whether billed through escrow or directly. Enter the nominal mortgage rate only when monthly compounding is an appropriate approximation for the quote.

How to interpret your result

The principal-and-interest payment repays the loan; property charges fund separate obligations. A change in those charges can raise total housing cost even when the loan rate stays fixed. The lifetime loan total excludes those recurring property costs, so do not read it as the full cost of owning the home or as a Canadian mortgage quotation.

Primary references

This educational estimate uses your inputs. It is not individualized financial, tax, insurance, or investment advice, a lender offer, approval decision, or a promise of future results.

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