Mortgage Calculator
Enter your home price, down payment, interest rate, and loan term to see your monthly payment, total interest, and total cost. Add property tax and insurance for an estimated total. Results update as you type.
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Show year-by-year breakdown
| Year | Principal paid | Interest paid | Balance left |
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How to use the mortgage calculator
Type in the home price and your down payment. The difference is the loan amount — the part you actually borrow. Add the interest rate your lender quoted and the loan term in years (most home loans are 15 or 30 years). The monthly payment and totals update instantly — there's no button to press and nothing is sent anywhere.
The big number is your principal-and-interest payment: the fixed amount that pays down the loan and the interest each month. Below it you'll see the total interest over the life of the loan and the total amount paid.
Property tax and insurance (optional). Real housing costs are usually more than just principal and interest. Enter your yearly property tax rate and home insurance to get an estimated total monthly payment. This is an estimate and does not include HOA fees or private mortgage insurance (PMI).
Everything runs in your browser — the numbers you type are never uploaded. These figures are estimates, not financial advice.
Common mortgage questions
How is the monthly payment worked out? The loan amount is spread evenly over every month of the term using the interest rate, so each payment is the same. Early on, more of each payment goes to interest; later, more goes to paying down the balance.
Why does a longer loan cost more overall? A 30-year loan has a lower monthly payment than a 15-year loan, but you pay interest for twice as long, so the total interest is much higher. Try changing the term to see the difference.
How does a bigger down payment help? A larger down payment means a smaller loan, which lowers both your monthly payment and the total interest you pay.
What's included in the estimated total payment? Only the principal, interest, and any property tax and insurance you enter. It does not include HOA fees, utilities, maintenance, or PMI.
Should I choose a 15-year or a 30-year mortgage? A 30-year loan has a lower monthly payment, while a 15-year loan costs more each month but saves a lot of interest and builds equity faster. Enter each term to compare the payment and total interest side by side.
What is PMI? Private mortgage insurance is an extra charge some lenders add when your down payment is under about 20%. It varies by lender, so it isn't included here — ask your lender and add it to the estimated total yourself.