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Mortgage Calculator

Calculate your monthly payments, explore different scenarios, and make informed decisions with our comprehensive mortgage calculator.

New to mortgages? Start here.

Answer three questions below for a friendly estimate of your monthly housing payment. Tap any ? for plain-English definitions of mortgage terms — so you walk into your first call with a loan officer feeling prepared, not lost.

Not sure? Use a price you've seen on Zillow or Realtor.com for a place you'd actually want.

A common starting point is 20% — but most first-time buyers put down 5-10%, and some loans allow 0-3.5% down.

We use this to estimate property taxes for your area.

Your estimated monthly payment
$0
Based on a 30-year fixed loan at today's average rate (~6.52%). Actual rates depend on your credit, income, and loan type.

What that payment includes

  • Principal & Interest Principal is the part that pays down what you borrowed. Interest is what the lender charges you for the loan. Together they're the core "house payment." $0
  • Property Tax Yearly tax your county charges based on your home's value. Usually paid monthly through your mortgage company into an escrow account, then sent to the county for you. $0
  • Homeowners Insurance Required by lenders. Covers fire, storm damage, theft, and liability. We estimate this at ~0.35% of home value per year — your real quote depends on the home and area. $0

Want a real number, not an estimate?

A 5-minute conversation with a loan officer gets you an actual rate quote based on your credit and income — for free, with no pressure to apply.

Talk to a Loan Officer

Loan Details

Loan Type

Loan Amount $320,000
LTV / Down % 80% / 20%

Quick Scenarios

Monthly Payment
$2,539
Principal & Interest$2,023
Property Tax$417
Home Insurance$100
Talk to a Loan Officer →
With Extra Payments
Pay off 0 years 0 months early
Save $0 in interest over the life of the loan.

Payment Breakdown

P&I: $2,023
Tax: $417
Insurance: $100

Loan Summary

Total Interest Paid

$408,142

Total Amount Paid

$728,142

Payoff Date

Apr 2055

Affordability Calculator

Enter your desired monthly payment to see what home price you can afford.

You can afford:

Home Price

$494,409

Loan Amount

$395,527

Down Payment

$98,882

Max Monthly Payment
$2,500
Est. P&I$2,500
Talk to a Loan Officer →

How This Works

This calculator works backwards from your desired payment to determine the maximum loan you can support, then adds your down payment to show the total home price you can afford.

Note: this estimate does not include taxes, insurance, PMI, or HOA fees. Your real monthly payment will be higher once those are included — use the main Mortgage Calculator for a complete picture.

Amortization Schedule

See how each payment breaks down over the life of your loan.

Monthly Payment
$2,023
Total Interest
$408,142
Total Paid
$728,142
Payoff Date
Apr 2055
MonthPaymentPrincipalInterestBalance

For information purposes only. This is not a commitment to lend or extend credit. All calculations are estimates and your actual rate, payment, taxes, insurance, and other costs may vary. All loans are subject to credit approval. Other restrictions may apply. Rates and terms are subject to change without notice.

Milestone Mortgage Solutions LLC · NMLS #1815656 · Verify at www.nmlsconsumeraccess.org

We can help homeowners and buyers in states across the country. View state availability and license details ›

Milestone Mortgage Solutions is an Equal Housing Opportunity Lender. We do not discriminate on the basis of race, color, religion, national origin, sex, marital status, age, source of income, familial status, disability, or any other basis prohibited by law.

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