Tool
Mortgage Calculator
Estimate monthly mortgage payments, interest cost, and loan amortization.
Enter home price, down payment, interest rate, and loan term to estimate your mortgage payments and long-term borrowing cost.
How mortgage payments are calculated
Mortgage payments follow an amortization schedule where each payment includes principal and interest. Early payments include more interest, while later payments reduce the principal faster.
Why mortgage comparisons matter
Small differences in interest rates or loan terms can significantly change the total cost of a mortgage. Running different scenarios helps buyers make informed financial decisions.
Calculator
Interactive inputs
Adjust the values below to preview how the tool behaves.
Outputs
LiveMonthly Payment
$2,022.62
Total Interest
$408,142.36
Total Cost
$728,142.36
Principal vs Interest
PIE previewLoan Balance Over Time
LINE previewRun the mortgage calculator
Adjust inputs to compare monthly payments and total cost.
Loan calculator
Monthly payment estimator
Enter amount, interest rate, and term to estimate monthly payment, total interest, and total repayment. Results are informational and do not include taxes, insurance, or lender-specific fees.
Monthly payment
$1,266.71
Total interest
$206,016.78
Total paid
$456,016.78
Informational estimate only. Review loan agreements and lender disclosures for exact payment obligations.
How to use this estimate responsibly
This calculator provides a clean baseline for fixed-rate amortized loans. Use it to compare terms and rates before committing to financing. Run at least two scenarios and note which assumptions drive the largest change in total interest.
For deeper workflows, read our blog guides on calculator strategy and financial planning. You can also review policy pages for data practices and informational boundaries before using outputs in high-stakes decisions.
Need another calculator?
Browse all tools and practical guides to compare scenarios with confidence.
Back to toolsFrequently asked questions
How does a mortgage calculator work?
It uses an amortization formula to estimate monthly payments based on loan amount, interest rate, and loan term.
Can extra payments reduce my mortgage?
Yes. Extra payments reduce principal faster and significantly lower total interest.
Use the Mortgage Calculator to test realistic scenarios, compare interest rate offers, and communicate the cost implications to lenders and partners.