Mortgage Calculator
Estimate monthly home loan payments & total interest.
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- No credit card
- 100% free
- Files never leave your device
- Loan amount$0
- Total of payments$0
- Total interest$0
How this mortgage calculator works
Enter the home price, your down payment, the annual interest rate and the loan term. The calculator works out the principal-and-interest payment using the standard amortization formula and shows how much interest you'll pay over the life of the loan.
The formula
Monthly payment = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan amount, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments.
Note
This estimate covers principal and interest only. Your actual payment may also include property taxes, home insurance, HOA fees and PMI. Always confirm figures with your lender. Working out a percentage? Use the percentage calculator.
Frequently asked questions
What does the monthly payment include?
It covers principal and interest. Property taxes, insurance, HOA fees and PMI are not included, so your real payment may be higher.
How is the payment calculated?
Using the standard amortization formula based on your loan amount, interest rate and term.
Is my financial information saved?
No. All calculations run in your browser and nothing is stored or sent.