How does SmartAsset's mortgage calculator work?

SmartAsset’s mortgage calculator estimates your monthly mortgage payment, including your loan's principal, interest, taxes, homeowners insurance and private mortgage insurance (PMI). You can adjust the home price, down payment and mortgage terms to see how your monthly payment will change.

What is the SmartAsset budget calculator?

The SmartAsset budget calculator shows you the average childcare expenditure for someone like you in your area. You may have heard that medical costs are on the rise in this country.

How do you calculate a monthly mortgage payment?

For those who want to know the math that goes into calculating a mortgage payment, we use the following formula to determine a monthly estimate: M = Monthly Payment P = Principal Amount (initial loan balance) i = Interest Rate n = Number of Monthly Payments for 30-Year Mortgage (30 * 12 = 360, etc.)