Mortgage Payment Calculator 

Enter the price of the property, the down-payment (or only the loan amount for a refinance), the number of years, and fixed interest rate of the loan.

calculate mortgage payment

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How much do I need to put down?

A down payment of 20% or more helps you get a lower interest rate and avoid paying private mortgage insurance (PMI). But you do not need that much. These loans have lower down payment options for home buyers:

  • Fixed-rate conventional loans like the 30-year fixed and 15-year fixed usually require a down payment of at least 3%
  • FHA loans have a minimum down payment of 3.5% for both fixed and adjustable rates.
  • USDA loans are available with no down payment for properties in rural areas.

Keep in mind that your minimum down payment may be higher if you're buying a second home or an investment property. Ask a Home Loan Expert about your options.


Original or expected balance for your mortgage.
The number of years over which you will repay this loan. The most common mortgage terms are 15 years and 30 years.
Annual fixed interest rate for the loan amount.
Monthly principal and interest payment (PI).