Mortgage Calculator
Estimate monthly principal, interest, property tax, insurance, and total interest for US-style home loans.
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How this calculator works
This mortgage calculator is written for English search users comparing fixed-rate home loans in the US, UK, Canada, and Australia. It separates principal and interest from optional property tax and insurance so borrowers can see the payment components before requesting quotes.
Formula and assumptions
Monthly principal and interest uses the standard amortization formula: P x r(1+r)^n / ((1+r)^n - 1). Property tax and insurance are divided by 12 and added as optional escrow estimates.
FAQ
Does this work for US, UK, Canadian, and Australian mortgages?
Yes. The amortization math is the same for fixed-rate repayment loans. Local lender fees, taxes, mortgage insurance, and offset accounts may differ.
Is property tax included in the payment?
Only if you enter it. The calculator treats property tax and insurance as optional monthly escrow estimates, not lender-verified figures.
Why is the total interest so high on a 30-year loan?
Longer terms reduce the monthly payment but keep the balance outstanding longer, so interest accumulates over more months.
Should I use APR or interest rate?
Use the quoted interest rate for payment math. APR includes certain fees and is better for comparing loan offers.
