Mortgage Calculator
Calculate your monthly mortgage payments including principal and interest. This free mortgage calculator helps you estimate your monthly payment based on loan amount, interest rate, and loan term.
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Understanding Mortgage Payments
A mortgage payment typically consists of four components:
- Principal: The amount borrowed that goes toward the purchase price
- Interest: The cost of borrowing money, calculated as a percentage of the loan
- Property Taxes: Annual taxes assessed by local governments (often escrowed)
- Homeowners Insurance: Insurance coverage for your property (often escrowed)
Note: This calculator shows principal and interest only. Your actual monthly payment may include property taxes, homeowners insurance, and PMI (Private Mortgage Insurance) if applicable.