Mortgage Calculator
Calculate mortgage payments and amortization
About the Mortgage Calculator
The Mortgage Calculator estimates your monthly home loan payment from the home price, down payment, interest rate and term, along with the loan amount and total paid over the life of the loan.
How it works
The loan amount is the price minus your down payment. The monthly principal-and-interest payment uses the amortization formula M = L × r(1 + r)ⁿ ÷ ((1 + r)ⁿ − 1), with r the monthly rate and n the number of months. A $300,000 home with 20% down at 6.5% over 30 years works out to about $1,517 a month.
How to Use Mortgage Calculator
Enter Your Data
Enter the home price and down payment percentage.
Run the Tool
Enter the interest rate and loan term.
Use the Result
Press Calculate to see the loan amount, monthly payment and total cost.
Why Use Our Mortgage Calculator?
100% Free
No registration, no hidden fees, no limits — ever.
Privacy First
All processing runs in your browser. Your data never leaves your device.
Mobile Friendly
Works perfectly on phones, tablets, and desktops.
Instant Results
Results appear as soon as you run the tool.
Frequently Asked Questions
Q. Does this include taxes and insurance?
No. The result is principal and interest only. Property tax, homeowner's insurance, HOA fees and mortgage insurance (PMI) are extra.
Q. Why does a 15-year loan cost less overall?
You pay interest for half as long, and 15-year loans usually have lower rates. The monthly payment is higher, but the total interest is often less than half.
Q. How much down payment do I need?
20% avoids PMI on most conventional US loans, but many programs allow 3–5% down. Lower down payments mean a larger loan and higher payments.