Mortgage Payment Calculator

Enter five quick details to see your estimated monthly principal and interest payment on a 30-year fixed mortgage in any state. It is free, and nothing you type is saved or sent anywhere.

Principal and interest only. Does not include property taxes, homeowners insurance, mortgage insurance or HOA dues. Full assumptions and disclosures.

How this mortgage payment calculator works

The calculator takes the home price and subtracts your down payment to find the loan amount. It then applies the example rate for your loan type to a 30-year fixed schedule. On conventional loans, the rate also moves up a little for lower credit scores and smaller down payments, using the Fannie Mae loan-level price adjustment grid dated September 9, 2026. The result is the principal and interest payment, which is the part of your monthly cost that pays back the loan.

The example rates are 7.490 percent for conventional, 6.900 percent for FHA and 6.800 percent for VA. We update them on the 1st and 15th of each month. Your own rate depends on your credit, your down payment, your loan type and the day you lock.

What is not in this payment

Your real monthly housing cost usually adds property taxes and homeowners insurance. Many loans also add mortgage insurance. On FHA loans the insurance stays on most loans for the life of the loan. VA loans can carry a funding fee. We left all of those out on purpose, because a guess would make the number less useful.

For a full picture, see the mortgage payment chart by loan amount and the closing cost calculator for Alabama and Florida buyers. To compare programs, read about conventional loans, FHA loans and VA loans. First-time buyers can also look at first time homebuyer programs in Alabama and Florida.

Mortgage payment calculator FAQ

How is a monthly mortgage payment calculated?

Take the loan amount, the interest rate and the loan term. For a 30-year fixed loan the payment is the same every month. Early payments are mostly interest, and later payments are mostly principal.

Does this calculator include taxes and insurance?

No. It shows principal and interest only. Property taxes, homeowners insurance, mortgage insurance and HOA dues are extra, and they vary by county and by property.

How much down payment do I need?

Many conventional loans start at 3 percent down, FHA loans at 3.5 percent, and VA loans can allow zero down for eligible borrowers. The calculator shows a message if your down payment is below the usual minimum for the loan type.

How does my credit score change the payment?

On a conventional loan, a lower credit score or a smaller down payment adds to the example rate, so the payment goes up. FHA and VA loans use one example rate, because their pricing does not follow that grid. Your actual rate can be higher or lower. We confirm your real numbers in writing.

Where does Mountain Mortgage lend?

Mountain Mortgage lends directly in Alabama and Florida. You can run the calculator for any state and start the form from anywhere. If we cannot lend in your state, we will tell you.