House Payment Calculator
Estimate your monthly house payment from price, down payment, rate and term โ with total interest and payoff schedule.
Loan Details
Enter the annual interest rate (e.g. 6.5)
Enter your loan details on the left to see your mortgage breakdown.
About the House Payment Calculator
Before you fall in love with a listing, it helps to know what the house payment would actually be. This house payment calculator gives you that number in seconds: enter the home price, your down payment, the interest rate you expect, and the length of the loan, and it returns the estimated monthly payment along with the total interest and a complete payoff schedule.
The monthly figure shown here is the principal-and-interest portion of the payment โ the part set by the loan itself. Remember that your real-world housing cost may also include property taxes, homeowners insurance, and, in some cases, mortgage insurance or HOA fees, which vary by location and property. Knowing the principal-and-interest payment first gives you a clean baseline to build on, and lets you compare different homes and loan structures on an equal footing.
Use it to answer the practical questions buyers actually ask: how much does the payment drop if I put more money down? What happens to my budget if rates move half a point? Everything is calculated locally in your browser, and you can export a tidy PDF of any scenario to keep or share.
Looking for more options? Open the full Mortgage Calculator โ itโs the same tool with every feature.
Frequently Asked Questions
What is included in the monthly house payment shown here?
This calculator shows the principal-and-interest payment โ the amount determined by your loan amount, interest rate and term. Property taxes, homeowners insurance, mortgage insurance and HOA dues are not included here because they vary widely by location and property; budget for them on top of this figure.
How much does a bigger down payment change my house payment?
A larger down payment reduces the amount you borrow, which lowers the monthly payment and the total interest, and may also qualify you for a better rate. Enter a few different down payment amounts in the calculator to see exactly how each one changes your monthly payment.
How accurate is this house payment estimate?
The principal-and-interest math is exact for the inputs you provide. The overall accuracy of your real payment depends on getting a realistic interest rate and remembering to add taxes and insurance for your specific property. Use it as a reliable planning estimate, then confirm the final figure with your lender.
Understanding Your House Payment
Principal and interest versus the full payment
The payment this tool shows is principal and interest โ the portion fixed by your loan. A real monthly housing cost often adds property taxes, homeowners insurance, and, where applicable, mortgage insurance and HOA dues, a bundle lenders call PITI. These extras vary widely by location and property, so calculating principal and interest first gives you a clean, comparable baseline you can then layer the local costs on top of.
How much house you can afford
Lenders commonly apply the 28/36 rule: your housing payment should stay under about 28% of gross monthly income, and total debt payments under about 36%. Working backward from your income to a comfortable payment โ then using this calculator to see what price that supports at current rates โ is a more grounded way to set a budget than starting from a listing price you hope to make work.
Ways to lower the payment
You can reduce a house payment by putting more money down, choosing a longer term (which lowers the monthly cost but raises total interest), securing a lower rate through a stronger credit profile or shopping multiple lenders, or buying at a lower price. Each lever behaves differently โ test them individually in the calculator to see which moves your payment the most for your situation.