Mortgage Calculator

Comprehensive mortgage calculator with property tax, insurance, HOA fees, and rent vs buy comparison. Get complete monthly payment analysis and make informed home buying decisions.

Complete Payment Analysis
Rent vs Buy Comparison
Insurance & Tax Integration

Mortgage Payment Calculator

Calculate your complete monthly mortgage payment including taxes, insurance, and HOA fees

Loan Details

Enter your home loan information

$
$
0%
Years
%

Additional Monthly Costs

Include taxes, insurance, and HOA fees

$
Annual property tax amount
$
Annual homeowner's insurance
$
Private mortgage insurance
$
Homeowner association fees

Monthly Payment Breakdown

Total Monthly Payment 0
Principal & Interest 0
Property Tax 0
Home Insurance 0
PMI 0
HOA Fees 0
Loan Amount 0
Total Interest 0
Total Payments 0
Payoff Date -

Rent vs Buy Comparison

Compare the financial impact of renting versus buying over time

Home Purchase Details

$
$
%
Years
$
$

Rental Information

$
%
$

Market Assumptions

%
$
Years

Financial Comparison

Renting

Total Cost 0
Monthly Rent 0
Insurance 0

Buying

Net Cost 0
Total Payments 0
Home Equity 0

Buying is Better

You could save 0 by buying instead of renting over 0 years.

Extra Payment Analysis

See how extra principal payments can save you money and time

Loan Details

$
$
%
Years

Extra Payment Strategy

$
$
$
Year

Impact Analysis

Standard Payment

Payoff Time 30 years
Total Interest 0
Total Paid 0

With Extra Payments

Payoff Time 24.5 years
Total Interest 0
Total Paid 0

Your Savings

Interest Saved 0
Time Saved 0 years

Closing Costs Calculator

Estimate your total closing costs and cash needed at closing

Loan Details

$
$

Loan Fees

%
Typically 0.5% - 1.5% of loan amount
$
$
$

Title & Legal Fees

$
$
$
$

Property-Related Costs

$
$
$
$

Closing Costs Summary

Loan Fees

0

Title & Legal Fees

0

Property-Related Costs

0
Total Closing Costs 0
Down Payment 0
Total Cash Needed 0

Navigate Home Ownership with the Ultimate Mortgage Calculator

Buying a home is one of the most significant financial decisions you'll ever make. The price of the house is just the beginning; a true mortgage payment includes a variety of other costs. Our Mortgage Calculator is a comprehensive tool designed to give you a complete and accurate picture of your financial commitment.

This powerful calculator helps you estimate your monthly house payment with taxes and insurance, compare the financial implications of renting versus buying, analyze the impact of extra payments, and estimate your upfront closing costs. It's the perfect resource to help you make informed home-buying decisions.

More Than a Simple Calculator: Key Features

This tool is designed to be a complete analytical suite for prospective homeowners.

  • Complete Payment Analysis: The main calculator breaks down your total monthly payment into its core components: Principal & Interest, Property Tax, Home Insurance, PMI, and HOA Fees.
  • Rent vs. Buy Comparison: A dedicated mode provides a detailed financial comparison to help you decide whether buying or renting is the better financial choice over a specific time horizon.
  • Extra Payment Analysis: See exactly how much interest and time you can save by making additional monthly, yearly, or even one-time payments towards your loan's principal.
  • Closing Costs Estimator: Get a detailed estimate of the various fees and charges you'll need to pay upfront, so you know the total cash needed to close on your new home.
  • Multi-Currency Support: The calculator includes a currency selector with dozens of options, including USD, INR, EUR, and GBP, making it useful for users around the world.

How to Use the Mortgage Calculator: A Mode-by-Mode Guide

The calculator is organized into four distinct modes to answer all your home-buying questions.

1. Calculating Your Monthly Mortgage Payment

This is the primary function for understanding your ongoing costs. Select the "Mortgage Calculator" tab and enter the Home Price, Down Payment, Loan Term, and Interest Rate. Then, add any additional monthly costs like Property Tax and Home Insurance. Click "Calculate Payment" to see a detailed breakdown.

2. Deciding to Rent vs. Buy

Switch to the "Rent vs Buy" mode. Fill in the home purchase details and your current rental information. Adjust the market assumptions to see a clear recommendation on which option saves you more money over time.

3. Analyzing the Impact of Extra Payments

Click on the "Extra Payments" tab. Enter your loan info and choose an extra payment strategy (monthly, yearly, or one-time). The tool will show you a side-by-side comparison of your savings.

4. Estimating Your Closing Costs

Select the "Closing Costs" mode. Enter the Home Price and Down Payment, then fill in the various fee estimates. The calculator will show you the Total Closing Costs and the Total Cash Needed.

Frequently Asked Questions (FAQ)

Q: What costs are included in the monthly mortgage payment calculation?

A: The calculator provides a comprehensive breakdown that includes Principal, Interest, Property Tax, Home Insurance, Private Mortgage Insurance (PMI), and Homeowner Association (HOA) fees.

Q: Can this calculator help me decide if I should keep renting?

A: Yes, the dedicated "Rent vs Buy" mode is designed specifically for this purpose. It compares the long-term financial outcomes of both renting and buying to give you a clear recommendation.

Q: Does the calculator work for different countries and currencies?

A: Yes. The tool includes a dropdown menu with a wide selection of global currencies, allowing you to perform calculations in your local currency.