Mortgage Calculator

Estimate your monthly payment, total interest, and full loan payoff.

Loan amount ($)

Interest rate (% APR)

Loan term (years)

Down payment ($)

Estimated monthly payment (principal & interest)

Loan principal$0

Total interest paid$0

Total cost of loan$0

Payoff date (from today)–

How this is calculated

This uses the standard fixed-rate amortization formula: M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the principal (loan amount minus down payment), r is the monthly interest rate, and n is the number of monthly payments. It covers principal and interest only — property tax, homeowners insurance, PMI, and HOA fees aren't included, so your actual monthly bill will typically be higher.

FAQ

Does this include taxes and insurance?: No — this is principal and interest only. Lenders often quote a combined "PITI" figure that adds property tax, insurance, and sometimes PMI.
What's a good interest rate?: Rates move with the market and your credit profile, so there's no fixed "good" number — compare offers from multiple lenders on the same day for an apples-to-apples read.
How does a bigger down payment change things?: It lowers your principal directly, which reduces both the monthly payment and the total interest paid over the life of the loan.