Mortgage Calculator
Monthly Payment
$0
Total Interest
$0
Total Cost
$0
How It Works
- Enter the home price or property value.
- Input your down payment amount.
- Specify the interest rate and loan term.
- Add estimated annual property taxes.
- Click Calculate to see your monthly payment and total costs.
Frequently Asked Questions
What is included in the monthly payment?
The monthly payment includes principal, interest, and property taxes (PITI). It does not include homeowners insurance, HOA fees, or PMI (private mortgage insurance) which may also be required.
How much should my down payment be?
While 20% down avoids PMI, many lenders accept 3-10% down. Larger down payments reduce monthly payments and total interest. Use our calculator to compare different down payment scenarios.
Should I get a 15-year or 30-year mortgage?
15-year mortgages have higher payments but lower total interest. 30-year mortgages offer lower payments and more flexibility. Choose based on your budget and financial goals.
Is this calculator free to use?
Yes, ApexSofteck Tools's Mortgage Calculator is completely free. Use it unlimited times to compare different home buying scenarios without any registration.
Does this include closing costs?
Closing costs (typically 2-5% of home price) are not included in this calculation. Budget separately for appraisal, inspection, title insurance, lender fees, and prepaid expenses.