The Home Loan Calculator is a tool for prospective homeowners to estimate monthly payments on a home loan. It accounts for the principal amount, interest rate, loan term, down payment, and property tax rate.

Home Loan Calculator

Estimate your monthly home loan payments including interest, taxes, and down payment.

Monthly Payment:
Total Payment with Tax:

How to Use the Calculator

  1. Enter Home Price: Input the total price of the home you are interested in.
  2. Down Payment: Enter the amount you plan to pay upfront.
  3. Annual Interest Rate: Provide the interest rate of your home loan.
  4. Loan Term: Enter the duration of the loan in years.
  5. Annual Tax Rate: Input the property tax rate.
  6. Calculate: Press the calculate button to determine your monthly payment and total monthly payment including taxes.

Formula Used

The formula for the monthly payment of a home loan is:

Monthly Payment (P) = (L * c * (1 + c)^n) / ((1 + c)^n – 1)


  • P is the monthly payment.
  • L is the loan amount (home price – down payment).
  • c is the monthly interest rate (annual interest / 12).
  • n is the total number of payments (loan term in years * 12).

Home Loan Payment Calculator Online


  • $300,000 home, 4% interest, 30 years, 1% tax, $60,000 down:
    • Monthly Payment: $1145.80
  • $450,000 home, 3.5% interest, 15 years, 1.5% tax, $90,000 down:
    • Monthly Payment: $2578.09
  • $200,000 home, 5% interest, 20 years, no tax, $40,000 down:
    • Monthly Payment: $1056.78

Financing Your Dream Home

Understanding how different factors like down payment, loan term, and taxes affect your monthly payments is crucial in planning and budgeting for your new home. Use this calculator to explore various scenarios and prepare for your home buying journey.

In Conclusion

The Home Loan Calculator is an essential tool for anyone considering buying a home. It provides a clear picture of the monthly financial commitments involved, helping you plan accordingly. Use this calculator to make informed decisions and step into your future home with confidence.