Mortgage Calculator
Estimate monthly mortgage payments and total cost.
How to use
- 1 Enter the loan amount you intend to borrow.
- 2 Enter the annual interest rate as a percent.
- 3 Enter the loan term in years.
- 4 Review the monthly payment, total paid and total interest.
About Mortgage Calculator
The Mortgage Calculator estimates the level monthly payment on a fixed-rate home loan, then shows what that loan really costs over its full term.
Enter the loan amount, the annual interest rate as a percent and the term in years, and it returns the fixed monthly payment, the total amount paid and the total interest you will hand over by the end.
A mortgage is amortised, which means each payment covers the interest due that month plus a slice of the principal, and the split shifts toward principal as the balance falls.
The standard amortisation formula behind that level payment involves an exponent and a fraction that are awkward to compute by hand, and a small error can be the difference between an affordable payment and an overstretched budget.
This tool applies the formula precisely and handles a 0% rate gracefully by splitting the principal evenly across the months.
Seeing the total interest alongside the monthly figure is the part most people overlook: over thirty years it can rival or exceed the amount borrowed.
With those numbers in front of you it is easier to compare terms, rates and down-payment sizes.
The calculator runs entirely in your browser, so the figures you type stay private to your device.
FAQ
Does this include taxes and insurance?
No. It estimates the principal-and-interest payment on the loan itself. Property taxes, insurance and HOA fees are not included and would be added on top.
How does it handle a 0% interest rate?
At 0% the loan is simply the principal divided evenly across every month of the term, with no interest charged.
Is the payment fixed for the whole term?
Yes — this assumes a fixed-rate, fully amortising loan, so the monthly payment stays the same from the first month to the last.