Mortgage Calculator
Estimate your monthly mortgage payment, total interest and amortization schedule.
Mortgage Calculator
Estimate your monthly mortgage payment, total interest and full amortization. Results update instantly.
Estimated monthly payment
Total paid
Principal
Total interest
Principal vs. interest split
Enter your details and press Calculate to see an instant breakdown.
How the mortgage calculator works
The monthly payment is derived from the fixed-rate loan formula, which spreads principal and interest evenly over the term:
- M — monthly payment
- P — loan principal (price − down payment)
- r — monthly interest rate (annual ÷ 12)
- n — total number of payments (years × 12)
Example: a $300,000 home with a 20% down payment ($60,000) leaves a $240,000 loan. At a 6.5% annual rate over 30 years, the monthly payment is about $1,517.
Use it to: compare loan options, decide between a 15- and 30-year term, estimate total interest over the life of the loan, or plan a refinance.