OomTools

Mortgage Payment Calculator

This estimates the monthly cost of a home loan — principal and interest, plus optional property tax, insurance and PMI — and totals the interest you'd pay over the term. It's a planning estimate you can run privately in the browser, not a lender's quote.

  • 100% free
  • Private & safe
  • Runs in your browser

Why use Mortgage Calculator?

Mortgage Calculator gives you accurate results instantly, with the underlying formula shown so you can trust the numbers.

  • Runs instantly in your browser — nothing to install, nothing uploaded.
  • Completely free, with no account, no watermarks and no usage limits.
  • Handles Monthly P&I = P × [r(1+r)^n] / [(1+r)^n − 1]; Total monthly = P&I + tax/12 + insurance/12 + PMI/12.
  • Enter the home price and your down payment.
  • Works on any device — desktop, tablet and phone — and is fully keyboard accessible.

How to use Mortgage Calculator

  1. Enter the home price and your down payment.
  2. Add the interest rate and loan term in years.
  3. Optionally include annual property tax, insurance and a PMI rate.
  4. See your estimated total monthly payment and lifetime interest.

Examples

  • A $400k home with 20% down at 6.5% over 30 years.
  • Comparing 15- vs 30-year terms for total interest.

Formulas

  • Monthly P&I = P × [r(1+r)^n] / [(1+r)^n − 1]
  • Total monthly = P&I + tax/12 + insurance/12 + PMI/12

Limitations

  • Estimates only — actual rates, taxes, insurance and fees vary by lender and location.
  • Does not include HOA dues or closing costs.
  • Assumes a fixed rate for the whole term.

Frequently asked questions

Does this include taxes and insurance?

Yes, optionally — enter annual property tax and insurance and they are added to your monthly estimate.

What is PMI?

Private mortgage insurance, often required with less than 20% down; enter it as an annual percentage of the loan.

Is this a loan offer?

No. It is an informational estimate only, not financial advice or a lender quote.

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