Can I Get a Mortgage? Monthly Payment & Total Cost

Mortgage calculator

See the mortgage payment, the wider housing cost, and what you may spend owning the house. Extra payments, nearby rates, and down-payment steps show which lever moves the outcome.

How this calculator works. The outlook amortizes month by month, then steps year by year. It separates P&I from housing cost, totals interest and ownership cash, and shows principal versus interest, the balance path, extra-payment time gained, rate sensitivity, down-payment steps, and cash to buy. Tax, insurance, and HOA can grow on their own rates. Life costs and an investment pile still sit beside the house.

Limitations. Educational projection only. It is not a pre-approval, a rate lock, or tax advice. Lenders use their own rules. Compare this outlook with a lender before you offer. Last reviewed September 2026.

Free to use · No account required · Assumptions shown · Educational planning tools

This sits in Buying a Home

Home price, down payment, rate, term

The short path to a first result. Down payment is 20.0% of price — dollars and percent stay in sync.

Home priceContract price, not the loan.

Down paymentCash at closing toward the price.

Down payment %Moves the dollar amount.

Interest rateQuoted annual rate.

TermUsually 15 or 30 years.

▶Tax, insurance, HOA, PMI

These sit beside principal and interest. Growth rates are in Advanced assumptions.

Property tax / yearAdjust this. Often 1–2% of price.

Home insurance / yearDwelling cover. Can grow faster than inflation.

HOA / month$0 if there is no association.

PMI / monthUsually $0 at 20% down. Drops when loan-to-value hits 80%.

Upkeep / yearRepairs and replacements. Default is 1% of price.

▶Life around the house

Food, school, travel, extras, health, dependents, and other loans. Living costs inflate. Installment loans do not.

Food / monthGroceries and eating out.

School / monthLeave $0 if there are no school-age kids.

Extra-curricular / monthSports, lessons, camps. $0 if none.

Travel / monthA monthly stand-in for trips.

Health / monthPremiums and typical out-of-pocket.

Other dependents / monthSupport you already pay. $0 if none.

Car loan / monthStays flat, then stops after the years below.

Car loan years left0 if the car is paid off.

Other loans / monthStudent, personal, or other installment debt.

Other-loan years left0 if none.

▶Income and the investment pile

Yearly take-homeWhat can actually pay the house and the rest of life.

Investment pile nowSeparate from the down payment. Drawn if a year is short.

▶Extra payments

Monthly, yearly, or one-time extra to principal. Results also have +$100 / +$250 / +$500.

Extra / monthRecurring extra to principal.

Extra / yearA yearly lump added in month 12.

One-time extraA single extra payment.

One-time in monthMonth 1 is the first payment.

▶Cash needed to buy

Down payment plus the estimates below. Change them; they are not a lender quote.

Closing costsEditable estimate, not a universal percent.

MovingOptional. $0 if you skip it.

Repairs / furnishingOptional cash after closing.

▶Advanced assumptions

Separate growth for tax, insurance, and HOA. Inflation still moves income, upkeep, and life.

InflationIncome, upkeep, and living costs.

Tax growthProperty tax each year.

Insurance growthHome insurance each year.

HOA growthHOA each year.

Return on the pileHow the buffer grows after a surplus or a draw.

▶Compare another loan

Same life costs and the same pile. Set compare term to 0 to hide it.

Compare priceSame house, or another listing.

Compare down paymentCash toward that price.

Compare rateA 15-year quote is often lower.

Compare termSet to 0 to hide the compare.