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Mortgage Calculator
Estimate monthly mortgage payments from home price, down payment, rate, and term.
Mortgage Calculator
Estimate monthly mortgage payments from home price, down payment, rate, and term. Adjust the assumptions, review the output, and use the recommendations below to compare products or plan the next step.
Your result
Estimated monthly payment is $2,275 over 30 years.
Loan cost breakdown
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How this calculator works
We use the standard amortizing mortgage formula. You enter the loan amount, an annual interest rate, and the term in years. We turn the annual rate into a monthly rate, then solve for the fixed monthly payment that pays the loan off exactly over the term.
M = P × r(1+r)^n / ((1+r)^n − 1)Monthly payment = P · r · (1 + r)^n / ((1 + r)^n − 1), where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the total number of monthly payments (years × 12). Total interest is (payment × n) − P.
About this mortgage calculator
Buying a home is the biggest financial decision most people make. This free mortgage calculator gives you a fast, transparent estimate of the monthly payment, total interest, and total cost over the life of the loan — so you can compare lenders, terms, and down payment scenarios side by side.
Use it before talking to a loan officer, when you're shopping rates, or when you want to test how a different term (15 vs 30 years) or a bigger down payment would change your monthly cash flow.
FAQ
How accurate is the Mortgage Calculator?
The Mortgage Calculator is a planning tool. It uses your inputs and standard formulas, but final decisions should include taxes, fees, vendor pricing, and professional advice where relevant.
Can I share or embed this calculator?
Yes. Use the share button or embed code on the page to reference the tool from an article, client report, or website.
What should I do after using this calculator?
Compare the estimate against real products, pricing pages, and your own historical data before choosing a vendor or budget.
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