Mortgage Calculator
How to use the mortgage calculator
Use this free mortgage calculator to estimate your monthly home loan payment before you start shopping. Enter your home price, down payment, interest rate, and loan term to see a full breakdown of principal, interest, property taxes, and homeowners insurance (PITI). Knowing your estimated payment up front helps you set a realistic budget and shop with confidence.
What goes into your monthly mortgage payment?
- Principal & interest — the amount you repay on the loan plus the cost of borrowing.
- Property taxes — collected by your local taxing authority and often escrowed monthly.
- Homeowners insurance — protects your home and is usually included in your payment.
- Mortgage insurance — may apply on lower down payment loans such as FHA and conventional.
Ready for the next step?
A calculator gives you an estimate — a pre-approval gives you a real number. Get pre-approved with Elevation Brokerage to know exactly how much home you can afford.
Start Your Pre-Approval