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🏠Mortgage Calculator

Calculate monthly mortgage payments, total interest, and amortization.

🆓 Free🔒 Secure⚡ Instant📱 Mobile-friendly🚫 No signup

Calculate monthly mortgage payments online for free. See total interest and principal breakdown.

Monthly Payment

$1933

Total Payment

$464022

Total Interest

$224022

How to Use Mortgage Calculator — Step by Step

  1. 1Enter the home price, down payment, loan term, and annual interest rate
  2. 2Click 'Calculate' — monthly mortgage payment is shown
  3. 3See breakdown of principal vs. interest in each payment
  4. 4Adjust inputs to compare different mortgage scenarios

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Frequently Asked Questions

What mortgage term should I choose?

30-year mortgages have lower monthly payments but higher total interest. 15-year mortgages cost significantly less in interest but require higher monthly payments. Choose based on your cash flow and financial goals.

Does it include property tax and insurance?

Yes. Enter monthly property tax, homeowner's insurance, and PMI (if applicable) to see the total monthly housing cost (PITI).

What is PMI?

Private Mortgage Insurance — required when your down payment is less than 20% of the home price. It typically costs 0.5-1% of the loan amount annually.

Is it free?

Yes.