Mortgage Calculator
Estimate the monthly principal and interest on a home loan and the total interest you would pay over the term. Adjust the price, down payment, rate, and length to see how each one moves your payment.
How the Estimate Works
Your loan amount is the home price minus your down payment. The calculator converts your annual rate to a monthly rate, spreads the loan across the term in months, and solves for a fixed monthly payment that pays the loan off exactly on schedule. It is the same amortization math behind a standard fixed-rate mortgage.
This estimate covers principal and interest only. That is the part of your payment that goes to the lender for the loan itself. It is the cleanest way to compare rates and terms without other costs muddying the picture.
What This Calculator Leaves Out
A real mortgage payment usually bundles in more than principal and interest. Property taxes, homeowners insurance, and, if your down payment is under 20 percent, private mortgage insurance all get added on. Homeowners association dues can stack on top. Those extras vary widely by location and property, so this tool keeps them out to give you a clear baseline.
When you talk to a lender, ask for the full monthly figure, sometimes called PITI, so you are comparing the complete cost. Then use the principal-and-interest number here to sanity-check the loan portion of their quote.
Play With the Levers
A larger down payment shrinks the loan and the interest you pay over time. A shorter term raises the monthly payment but can save a striking amount of lifetime interest. Even a small change in rate moves the total more than most people expect over 30 years. Try a few combinations to see what a comfortable payment really costs you across the life of the loan.
For shorter borrowing needs, the loan payment calculator handles personal and auto loans, and the interest savings calculator shows how a down-payment fund can grow. Need cash for a smaller, near-term expense? Our request form matches you with lenders in minutes.