Mortgage Calculator: Estimate Your Monthly Repayments

Mortgage Calculator: Estimate Your Monthly Repayments

Calculate your true monthly mortgage cost—including taxes, insurance and HOA fees.

How to use this calculator

How to use this calculator

How to use this calculator

  1. Enter the home price.

  2. Add your down payment and loan term.

  3. Choose an estimated interest rate.

  4. Include property taxes, homeowners insurance, HOA fees, and PMI if needed.

  5. Review your estimated monthly payment, then adjust the numbers to compare scea budget that fits.

Loan Details

Monthly Payment

Total Monthly Payment
$3,278
Principal & Interest$2,528
Property Tax$500
Insurance$100
HOA$150

Payment Breakdown

Principal & Interest
$2,528
77.1%
Property Tax
$500
15.3%
Insurance
$100
3.1%
HOA
$150
4.6%

Loan Details

Monthly Payment

Total Monthly Payment
$3,278
Principal & Interest$2,528
Property Tax$500
Insurance$100
HOA$150

Payment Breakdown

Principal & Interest
$2,528
77.1%
Property Tax
$500
15.3%
Insurance
$100
3.1%
HOA
$150
4.6%

What affects your mortgage payment?

Interest rate: A higher rate increases the cost of borrowing and raises your monthly payment.

Loan term: A longer loan term can lower the monthly payment, but usually increases total interest paid.

Down payment: A larger down payment reduces the loan amount and may lower your monthly cost.

Property taxes: Local tax rates can add a meaningful amount to your total monthly housing payment.

PMI: If your down payment is below 20% on many conventional loans, PMI can increase the monthly payment.

Common loan types

Conventional Loans are the go-to mortgage for most homebuyers, with down payments ranging from 3% to 20%. Following established guidelines, these loans offer competitive rates for those with solid credit.

FHA Loans help make homeownership possible for first-time buyers and those rebuilding credit. With just 3.5% down and more flexible credit requirements, they open doors that might otherwise stay closed.

VA Loans serve those who've served us—veterans, active military and their families. Zero down payment, no mortgage insurance and some of the best rates available make this an extremely valuable benefit of military service. If you qualify, this loan type delivers serious financial advantages.

Jumbo Loans handle home purchases above conventional loan limits. They ask more of you—larger down payments, excellent credit, substantial cash reserves—but they're your ticket to homes in pricier markets. Yes, rates might run slightly higher than conventional loans, but when you need financing beyond standard limits, jumbo loans get the job done.

Things to consider before taking on a mortgage

Your Total Monthly Payment goes beyond just principal and interest. Factor in property taxes, homeowners insurance, HOA fees if applicable, and maintenance costs. A good rule of thumb? Your total housing payment shouldn't exceed 28% of your gross monthly income, though this varies based on your other financial commitments.

Emergency Funds Matter even more when you own a home. Before taking on a mortgage, make sure you've got 3-6 months of expenses saved—including your new housing payment. When the water heater fails or the roof needs work, you'll be grateful for that cushion.

Interest Rate vs. APR can be confusing, but here's what matters: the interest rate is what you pay on the loan itself, while APR includes the rate plus fees and other costs. Comparing APRs gives you the true cost of different loan offers, helping you spot the best deal.

Your Credit Score Really Matters—even small improvements make a big difference. Bumping your score from 720 to 740 could save you thousands over your loan. If you can wait a few months and work on improving your credit first, it's usually worth it.

Fixed or Adjustable Rate? Fixed rates stay the same forever, so you always know what you'll pay. Adjustable rates start lower but can go up later. While everyone's financial situation is unique to them, most pick fixed if they want predictable payments and plan to stay in the home long-term. Others choose adjustable if they'll likely move or refinance and want those early savings.

Get Pre-approved, Not Pre-qualified to show sellers that you're serious. Pre-qualification is just an estimate based on what you tell the lender while pre-approval means they've actually checked your finances and identified you as a ready buyer. In a competitive market, sellers often won't even look at offers without pre-approval.

Disclaimer
Datalign Advisory calculators offer estimates based on your inputs and generally accepted financial principles. Results are for illustrative purposes only and may differ from actual outcomes. These tools are intended for educational use and are not a substitute for professional financial advice.

Get more than estimates — talk to an advisor about your goals.

Get more than estimates — talk to an advisor about your goals.

Match with a fiduciary advisor for free

Match with a fiduciary advisor for free

Frequently asked questions

What does this mortgage calculator include in the monthly payment?

It estimates a monthly payment including principal & interest, plus property tax, insurance, and HOA based on what you enter.

Does this calculator include PMI (mortgage insurance)?

This calculator shows taxes/insurance/HOA, but PMI may not be included unless you add it separately via your own budgeting. If you’re putting less than 20% down, plan for PMI.

What’s the difference between “home price” and “loan amount”?

Home price is the purchase price. Your loan amount is typically home price minus down payment.

How do I choose a loan term (15 vs 30 years)?

- 15-year: higher payments, lower total interest, faster payoff - 30-year: lower payments, more flexibility, higher total interest

How much does the interest rate affect my payment?

A lot. Even a 0.5%–1.0% change can move your monthly payment meaningfully. Try running the same numbers at a few different rates.

What should I enter for property taxes?

Use the annual tax rate (as a percent) for your area if you know it. If you don’t, use a conservative estimate and update it later once you have a target location.

Why add insurance and HOA—can’t I ignore those for a quick estimate?

You can for a rough number, but many buyers get surprised by “all-in” housing costs. Including them gives a more realistic monthly payment.

Which loan type should I consider (Conventional, FHA, VA)?

- Conventional: common for buyers with stronger credit - FHA: lower down payment, more flexible credit - VA: eligible military/veterans; often strong terms

Are the advisors fiduciaries?

We match you with an advisory firm aligned to your goals and needs, and the experience is built around connecting you with trusted advice. (You can confirm fiduciary status and services during the intro call.)

Is this the same as my lender’s final payment?

Not exactly. Lenders may include other items (like PMI, escrow rules, or certain closing-related costs). Use this tool to estimate, then confirm with your lender.

What does this mortgage calculator include in the monthly payment?

It estimates a monthly payment including principal & interest, plus property tax, insurance, and HOA based on what you enter.

Does this calculator include PMI (mortgage insurance)?

This calculator shows taxes/insurance/HOA, but PMI may not be included unless you add it separately via your own budgeting. If you’re putting less than 20% down, plan for PMI.

What’s the difference between “home price” and “loan amount”?

Home price is the purchase price. Your loan amount is typically home price minus down payment.

How do I choose a loan term (15 vs 30 years)?

- 15-year: higher payments, lower total interest, faster payoff - 30-year: lower payments, more flexibility, higher total interest

How much does the interest rate affect my payment?

A lot. Even a 0.5%–1.0% change can move your monthly payment meaningfully. Try running the same numbers at a few different rates.

What should I enter for property taxes?

Use the annual tax rate (as a percent) for your area if you know it. If you don’t, use a conservative estimate and update it later once you have a target location.

Why add insurance and HOA—can’t I ignore those for a quick estimate?

You can for a rough number, but many buyers get surprised by “all-in” housing costs. Including them gives a more realistic monthly payment.

Which loan type should I consider (Conventional, FHA, VA)?

- Conventional: common for buyers with stronger credit - FHA: lower down payment, more flexible credit - VA: eligible military/veterans; often strong terms

Are the advisors fiduciaries?

We match you with an advisory firm aligned to your goals and needs, and the experience is built around connecting you with trusted advice. (You can confirm fiduciary status and services during the intro call.)

Is this the same as my lender’s final payment?

Not exactly. Lenders may include other items (like PMI, escrow rules, or certain closing-related costs). Use this tool to estimate, then confirm with your lender.

What does this mortgage calculator include in the monthly payment?

It estimates a monthly payment including principal & interest, plus property tax, insurance, and HOA based on what you enter.

Does this calculator include PMI (mortgage insurance)?

This calculator shows taxes/insurance/HOA, but PMI may not be included unless you add it separately via your own budgeting. If you’re putting less than 20% down, plan for PMI.

What’s the difference between “home price” and “loan amount”?

Home price is the purchase price. Your loan amount is typically home price minus down payment.

How do I choose a loan term (15 vs 30 years)?

- 15-year: higher payments, lower total interest, faster payoff - 30-year: lower payments, more flexibility, higher total interest

How much does the interest rate affect my payment?

A lot. Even a 0.5%–1.0% change can move your monthly payment meaningfully. Try running the same numbers at a few different rates.

What should I enter for property taxes?

Use the annual tax rate (as a percent) for your area if you know it. If you don’t, use a conservative estimate and update it later once you have a target location.

Why add insurance and HOA—can’t I ignore those for a quick estimate?

You can for a rough number, but many buyers get surprised by “all-in” housing costs. Including them gives a more realistic monthly payment.

Which loan type should I consider (Conventional, FHA, VA)?

- Conventional: common for buyers with stronger credit - FHA: lower down payment, more flexible credit - VA: eligible military/veterans; often strong terms

Are the advisors fiduciaries?

We match you with an advisory firm aligned to your goals and needs, and the experience is built around connecting you with trusted advice. (You can confirm fiduciary status and services during the intro call.)

Is this the same as my lender’s final payment?

Not exactly. Lenders may include other items (like PMI, escrow rules, or certain closing-related costs). Use this tool to estimate, then confirm with your lender.

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Datalign Advisory, Inc. (“Datalign Advisory”) is a solicitor for the third-party advisors on our platform. These advisors pay Datalign Advisory a referral fee for prospective client introductions. This referral fee varies based on the information you supply in the Questionnaire and the desired client profile of the Matched Advisor. In return, we provide the Matched Advisor with the information you provide us through our Questionnaire, including phone number and e-mail address. This fee is paid solely by the Matched Advisor and is paid to Datalign Advisory regardless of whether or not you become a client of the Matched Advisor. There are no fees to you for the use of our platform. Datalign Advisory is not otherwise affiliated with the Matched Advisor and does not provide investment advice on its behalf. Participating Advisers pay us a fee for each Investor introduction. Participating Advisers may pay different levels of fees based on a combination of demand and profile of the Investors matched and introduced. This creates a conflict of interest because we could generate more revenue by introducing Investors to the Participating Adviser willing to spend the most, rather than the adviser that best suits an Investor’s needs. We mitigate this risk by only introducing Investors to Participating Advisers that are deemed suitable and match based on information Investors self-report through our platform. Where multiple Participating Advisers meet the requirements identified by an Investor and are deemed equally suitable, the introduction will be made to the Participating Adviser that is willing to pay us the highest referral fee, as determined through an auction.

Datalign Advisory, Inc. (“Datalign Advisory”) is registered with the U.S. Securities and Exchange Commission as a Registered Investment Advisor. Datalign Advisory provides referrals to third-party investment advisors based on consumers’ financial information, services required, and preferred relationship with an investment advisor, as reported through our Questionnaire. Datalign Advisory does not manage client assets nor provide investment recommendations. Datalign Advisory’s form ADV Part 2A is available here, and the Form CRS here.

@ 2026 Datalign Advisory. All rights reserved.

Datalign Advisory, Inc. (“Datalign Advisory”) is a solicitor for the third-party advisors on our platform. These advisors pay Datalign Advisory a referral fee for prospective client introductions. This referral fee varies based on the information you supply in the Questionnaire and the desired client profile of the Matched Advisor. In return, we provide the Matched Advisor with the information you provide us through our Questionnaire, including phone number and e-mail address. This fee is paid solely by the Matched Advisor and is paid to Datalign Advisory regardless of whether or not you become a client of the Matched Advisor. There are no fees to you for the use of our platform. Datalign Advisory is not otherwise affiliated with the Matched Advisor and does not provide investment advice on its behalf. Participating Advisers pay us a fee for each Investor introduction. Participating Advisers may pay different levels of fees based on a combination of demand and profile of the Investors matched and introduced. This creates a conflict of interest because we could generate more revenue by introducing Investors to the Participating Adviser willing to spend the most, rather than the adviser that best suits an Investor’s needs. We mitigate this risk by only introducing Investors to Participating Advisers that are deemed suitable and match based on information Investors self-report through our platform. Where multiple Participating Advisers meet the requirements identified by an Investor and are deemed equally suitable, the introduction will be made to the Participating Adviser that is willing to pay us the highest referral fee, as determined through an auction.

Datalign Advisory, Inc. (“Datalign Advisory”) is registered with the U.S. Securities and Exchange Commission as a Registered Investment Advisor. Datalign Advisory provides referrals to third-party investment advisors based on consumers’ financial information, services required, and preferred relationship with an investment advisor, as reported through our Questionnaire. Datalign Advisory does not manage client assets nor provide investment recommendations. Datalign Advisory’s form ADV Part 2A is available here, and the Form CRS here.

@ 2026 Datalign Advisory. All rights reserved.

Datalign Advisory, Inc. (“Datalign Advisory”) is a solicitor for the third-party advisors on our platform. These advisors pay Datalign Advisory a referral fee for prospective client introductions. This referral fee varies based on the information you supply in the Questionnaire and the desired client profile of the Matched Advisor. In return, we provide the Matched Advisor with the information you provide us through our Questionnaire, including phone number and e-mail address. This fee is paid solely by the Matched Advisor and is paid to Datalign Advisory regardless of whether or not you become a client of the Matched Advisor. There are no fees to you for the use of our platform. Datalign Advisory is not otherwise affiliated with the Matched Advisor and does not provide investment advice on its behalf. Participating Advisers pay us a fee for each Investor introduction. Participating Advisers may pay different levels of fees based on a combination of demand and profile of the Investors matched and introduced. This creates a conflict of interest because we could generate more revenue by introducing Investors to the Participating Adviser willing to spend the most, rather than the adviser that best suits an Investor’s needs. We mitigate this risk by only introducing Investors to Participating Advisers that are deemed suitable and match based on information Investors self-report through our platform. Where multiple Participating Advisers meet the requirements identified by an Investor and are deemed equally suitable, the introduction will be made to the Participating Adviser that is willing to pay us the highest referral fee, as determined through an auction.

Datalign Advisory, Inc. (“Datalign Advisory”) is registered with the U.S. Securities and Exchange Commission as a Registered Investment Advisor. Datalign Advisory provides referrals to third-party investment advisors based on consumers’ financial information, services required, and preferred relationship with an investment advisor, as reported through our Questionnaire. Datalign Advisory does not manage client assets nor provide investment recommendations. Datalign Advisory’s form ADV Part 2A is available here, and the Form CRS here.