MortgageCalc is a free, independent calculator built to help people estimate monthly mortgage payments without signing up, sharing an email address, or talking to a loan officer first.
The tool uses the standard amortization formula for principal and interest — M = P × [r(1+r)^n] / [(1+r)^n − 1] — the same formula lenders and loan servicers use to generate your official payment schedule. On top of P&I, it layers in estimated property tax, homeowners insurance, PMI (when your down payment is below 20%), and HOA dues to approximate your full PITI payment. The 2025 rate references shown are general market averages, not live quotes from any lender.
This calculator is an educational estimate, not a loan offer, a pre-approval, or financial advice. Actual payments depend on your credit profile, the specific lender, points, insurance carrier, and local tax rates, which this tool cannot know. Always get a written Loan Estimate from a licensed mortgage lender before making a decision, and consider talking to a HUD-approved housing counselor for major decisions.
MortgageCalc is not affiliated with, endorsed by, or connected to any bank, mortgage lender, government agency (including FHA, VA, or Fannie Mae/Freddie Mac), or credit bureau. It's an independently built tool, supported by ads served through Google AdSense.