Mortgage Calculator
Estimate your monthly mortgage payments with interest and amortization.
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Enter your values and the result appears here
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About this calculator
Buying a home is probably the biggest purchase you will ever make. Our mortgage calculator helps you understand the numbers before you start shopping. Enter the home price, down payment, interest rate, and loan term to see your monthly payment, total interest, and what you will really pay over 30 years. A little math now can save you tens of thousands later.
The formula, explained simply
We use the standard amortization formula that every lender uses. The calculator subtracts your down payment from the home price to get the loan amount, then computes your monthly payment based on the interest rate and term. It also shows the total interest paid over the life of the loan — which is often eye-opening. Try different down payment amounts to see how much you can save.
When you would use this
First-time homebuyers figure out what price range they can afford. Current homeowners evaluate refinancing options. Real estate agents share these numbers with clients. Investors calculate mortgage costs for rental properties. Even just browsing? Plug in some numbers and see what different scenarios look like.