# Mortgage Calculator

Mortgage Calculator allows you to estimate your monthly mortgage payments. Also, it lets you include taxes, insurance, PMI, and HOA.

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\$
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\$
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Include Taxes, Insurance, HOA fees?
Total Monthly Pay:
##### Mortgage Summary:
 House Price Down Payment Loan Amount Total of Mortgage Payments Total Interest

Welcome to our Mortgage Calculator. It's a free online tool where you can estimate your monthly house payments. Also, you can include the property tax, home insurance, PMI, and HOA fees in your monthly payment.

### Mortgage Payment Formula

M =  P
 i (1 + i)n (1 + i)n - 1

Where,
M = Monthly mortgage payment
P = Loan amount
i = Your monthly interest rate(%)
n = Number of monthly payments over the life of the loan

#### How to use Mortgage Calculator?

1. Firstly, enter the home price for what you want to find the monthly payment.
2. After that, input the down payment. There are two options to enter it. Either you can enter the direct amount or you can enter the value in percentage.
3. When you enter the down payment, the loan amount will be automatically counted and displayed on your screen. Also, you can manually enter the loan amount to adjust the down payment.
4. Now enter the loan term in years or months and the interest rate in percentage.
5. Lastly, just press the "Calculate" button to see the final output on your screen.
6. As a result, you can see the total monthly pay and mortgage summary including the total mortgage payments, and total interest amount.
7. Also, there is a checkbox that you can use to include taxes, insurance, PMI, and HOA.
8. Simply, enter all the additional values and press the "Calculate" button.
9. Finally, you will get the full summary of total monthly payments including the taxes, insurance, PMI, and HOA fees.
10. Moreover, you can use the "Reset" button for the new calculation.