Mortgage Calculator

Calculate monthly mortgage payments and total interest.

Home Price ($)

Down Payment ($)

Interest Rate (%)

Loan Term (Years)

Results

Click calculate to see your mortgage details.

About Mortgage Calculator

Calculate your monthly mortgage payments with this free online tool. Factor in home price, down payment, interest rate, and loan term to see your exact costs.

How to Use

1
Enter home price
Enter the total purchase price of the home.
2
Enter down payment
Input your down payment amount or percentage.
3
Set terms
Provide the interest rate and loan term to see your payment.

Examples

Standard Mortgage

Input: $300,000 home, 20% down, 6% interest, 30 years

Output: $1,438.92/month

Frequently Asked Questions

How is the monthly payment calculated?

The calculator uses the standard amortization formula to determine the fixed monthly payment needed to pay off the principal and interest over the loan term.

Should I put 20% down?

A 20% down payment is standard and often helps you avoid Private Mortgage Insurance (PMI), though many loans accept lower down payments.