How to use this calculator
- Enter home price, down payment, nominal annual rate (%), number of months, annual property tax estimate, annual insurance estimate, other monthly housing costs.
- Choose a display currency, then select Calculate. Results also update after a brief pause while you edit.
- Read the result with the assumptions below. Export details or save a second scenario to compare your choices.
Formula and method
Assumptions and limitations
Fixed nominal rate and monthly payments. User-entered taxes and insurance remain constant. No jurisdiction-specific mortgage insurance, escrow adjustment, eligibility rule or closing cost is assumed.
Worked example
For a 120,000 home with a 24,000 down payment and a 120-month 0% loan, principal and interest is 800 monthly. Annual tax of 1,200 adds 100 monthly.
What the result means
Use the full housing estimate for budgeting. The amortization table covers the loan only; property costs do not reduce principal.
Common questions
Are property tax rates automatic?
No. Enter your own annual estimate for the property and country.
Does the schedule include insurance?
No. It shows loan principal, interest and balance. Housing costs appear separately in the result.
Methodology and transparency
Calculation specification reviewed on 2026-10-14. Mathematical implementation is tested against independent reference fixtures. This does not imply review by a licensed financial professional. Read the testing and precision policy.
Background reference: openstax.org — financial method. FinanceMath implements its own calculator.