Mortgage Calculator

Calculate monthly mortgage payments, total interest, and view amortization schedule
Loan Parameters
Enter home price and loan details
Summary
Monthly payment breakdown
Monthly Payment
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Total Payment
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Total Interest
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How Mortgage Calculations Work

1

Loan Amount

We calculate the principal by subtracting your down payment from the home price.

2

Monthly Payment

Using the loan amount, interest rate, and term, we calculate your fixed monthly payment.

3

Amortization

Each payment is split between principal and interest, with early payments going more toward interest.

What factors affect your mortgage payment?

  • Home Price: The total purchase price of your property
  • Down Payment: Large down payments reduce your loan amount and monthly payment
  • Interest Rate: Higher rates mean higher monthly payments and more total interest
  • Loan Term: Longer terms have lower monthly payments but more total interest
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