// by seankriegler.com
Mortgage Payment Calculator
Calculate your monthly mortgage payment based on home price, down payment, rate, and term
Minimum 5-20% depending on region
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Monthly Payment
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Principal & Interest
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Tax & Insurance
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Loan Amount
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Total Interest
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Total Cost
// P&I vs Total
Your monthly payment includes principal + interest (P&I), but also property tax and insurance (PITI). Lenders use PITI to determine affordability.
// Down Payment
A larger down payment means a smaller loan, lower monthly payments, and often a better interest rate. 20% avoids private mortgage insurance (PMI) in most regions.
// 15 vs 30 Year
A 15-year mortgage has higher monthly payments but dramatically lower total interest. You could save hundreds of thousands over the life of the loan.
// Rate Impact
Even 0.5% in interest rate can mean tens of thousands in extra interest over 30 years. Always shop around and negotiate your rate.