Mortgage Calculator
Work out your monthly mortgage payment, with a full amortization schedule.
Runs in your browser — nothing is sent or saved.
How to use the mortgage calculator
- Enter the home price and your down payment.
- Enter the interest rate and the term in years.
- Add an extra monthly payment to see what it saves.
- Read the monthly payment, the breakdown, and the schedule.
How the monthly mortgage payment is worked out
The loan amount is the home price minus your down payment. From that, the rate, and the term, this mortgage calculator, a home loan calculator at heart, uses the standard amortized-loan formula, the same one a bank uses, to find the fixed monthly principal-and-interest payment and the full mortgage amortization. Early payments are mostly interest and later ones mostly principal, which the amortization schedule and the donut make clear.
What is not included
The figure here is principal and interest only. A real house payment often also includes property tax, home insurance, and sometimes mortgage insurance or association fees, and those vary a lot by location and lender. So ask your lender for the full monthly figure. Mortgage rates also change frequently, so use the rate you have actually been quoted rather than an old one.
Paying extra
Adding even a small extra amount each month goes straight to the principal, which shortens the loan and cuts the total interest. Enter an extra payment and the tool shows how many months you would save and how much interest. Because most interest is paid early, extra payments in the first years save the most.
An estimate, not financial advice
This is a calculation, not advice. It cannot account for your full costs, your credit, or the terms a specific lender offers. Rates and fees vary, so treat the result as a planning estimate and confirm the real numbers with a lender.
FAQ
How is a monthly mortgage payment calculated?
From the loan amount (price minus down payment), the interest rate, and the term, using the standard amortized-loan formula. The tool also splits each payment into interest and principal.
Does this include property tax and insurance?
No. It is principal and interest only. Property tax, insurance, and any mortgage insurance are extra and vary by location and lender, so ask your lender for the full payment.
How much does paying extra save?
Extra payments reduce the principal directly, so they shorten the loan and cut total interest. Enter an extra amount to see the months and interest saved.
Why is my early payment mostly interest?
Interest is charged on the outstanding balance, which is highest at the start. As the balance falls, less of each payment goes to interest and more to principal.
Is my information private?
Yes. Everything is calculated in your browser and nothing you enter is uploaded or saved.