Your loan
Your payment
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Subscribe freeBuying a home? Budget like one.
The Budget Planner 2026 is a 21-page printable workbook with monthly budget sheets, savings trackers and bill organizers — built for big goals like a down payment. $12, instant download, yours forever.
Get the planner — $12How it works
Your monthly payment is computed with the standard amortization formula: M = P·r(1+r)ⁿ / ((1+r)ⁿ−1), where P is the loan amount, r the monthly rate and n the number of payments. Early payments are mostly interest; later payments go mostly to principal.
Mortgage FAQ
How much house can I afford?
Follow the 28/36 rule: keep housing under 28% of gross monthly income and all debt under 36%. On $6,000/month income, aim for a payment under $1,680.
15-year or 30-year?
A 15-year loan has higher payments but saves a fortune in interest — the comparison card above shows exactly how much on your numbers.
What is PMI?
Private Mortgage Insurance applies when your down payment is under 20%. It typically costs 0.5–1.5% of the loan per year and drops off once you reach 20% equity.