Mortgage Calculator

The purchase price of the home. Together with the down payment it fixes the amount you borrow.

• Percent of price: enter the down payment as a percentage, e.g. 20.
• Amount: enter the cash sum you will put down.

The share of the price paid up front from your own money. 20% is the classic threshold that avoids mortgage insurance in many markets.

The cash you pay up front. Everything above it becomes the mortgage.

The yearly interest rate in percent, as quoted by the bank or lender — enter 5 for 5%.

Even a fraction of a percent compounds into a visible difference over a long term, so it pays to compare offers.

The repayment term of the mortgage. Longer terms trade a lower monthly payment for much more lifetime interest.

Yearly property tax as a percent of the home price. It is divided by twelve and added to the total monthly cost.

The yearly home-insurance premium, spread across the months and added to the total monthly cost.