Mortgage Calculator
Estimate your monthly mortgage payments easily.
Calculator Inputs
Enter your loan details
The total purchase price of the home
Typically 20% to avoid PMI
Annual percentage rate
Common in US: 15, 20, or 30 years
Your Results
Based on your inputs
Monthly Payment
$1,770
Total Interest
$357,125
Total Payment
$637,125
Balance Over Time
Remaining balance by year (30 years)
Principal vs Interest by Year
Principal and interest paid each year (30 years)
Yearly Breakdown
First 15 years. Download full schedule for all 30 years.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,130 | $18,108 | $276,870 |
| 2 | $3,339 | $17,898 | $273,531 |
| 3 | $3,563 | $17,675 | $269,968 |
| 4 | $3,801 | $17,436 | $266,167 |
| 5 | $4,056 | $17,181 | $262,111 |
| 6 | $4,328 | $16,910 | $257,783 |
| 7 | $4,618 | $16,620 | $253,165 |
| 8 | $4,927 | $16,311 | $248,239 |
| 9 | $5,257 | $15,981 | $242,982 |
| 10 | $5,609 | $15,629 | $237,373 |
| 11 | $5,984 | $15,253 | $231,389 |
| 12 | $6,385 | $14,852 | $225,004 |
| 13 | $6,813 | $14,425 | $218,191 |
| 14 | $7,269 | $13,968 | $210,922 |
| 15 | $7,756 | $13,482 | $203,166 |
Amortization Schedule
First 15 months. Download full schedule for all 360 months.
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $1,770 | $253 | $1,517 | $279,747 |
| 2 | $1,770 | $254 | $1,515 | $279,492 |
| 3 | $1,770 | $256 | $1,514 | $279,237 |
| 4 | $1,770 | $257 | $1,513 | $278,979 |
| 5 | $1,770 | $259 | $1,511 | $278,721 |
| 6 | $1,770 | $260 | $1,510 | $278,461 |
| 7 | $1,770 | $261 | $1,508 | $278,199 |
| 8 | $1,770 | $263 | $1,507 | $277,936 |
| 9 | $1,770 | $264 | $1,505 | $277,672 |
| 10 | $1,770 | $266 | $1,504 | $277,406 |
| 11 | $1,770 | $267 | $1,503 | $277,139 |
| 12 | $1,770 | $269 | $1,501 | $276,870 |
| 13 | $1,770 | $270 | $1,500 | $276,600 |
| 14 | $1,770 | $272 | $1,498 | $276,329 |
| 15 | $1,770 | $273 | $1,497 | $276,056 |
Here’s a step-by-step guide to using the calculator:
- Enter Your Loan Details
- Purchase Price: Input the total price of the home you want to buy.
- Down Payment: Enter the amount you plan to pay upfront. A 20% down payment is typical to avoid Private Mortgage Insurance (PMI).
- Annual Percentage Rate (APR): Provide your expected mortgage interest rate as a percentage.
- Loan Term: Choose the number of years you’ll take to repay the loan (commonly 15, 20, or 30 years).
- Calculate
- Click “Calculate” to see your estimated results.
- Review Your Results
- Monthly Payment: Your expected monthly payment, excluding property taxes, insurance, HOA fees, and PMI (if your down payment is under 20%).
- Total Interest: The total amount you’ll pay in interest over the entire loan.
- Total Payment: The sum of all payments you’ll make by the end of the loan.
- Explore the Visualizations
- Balance Over Time Chart: Shows how your mortgage balance drops each year.
- Principal vs. Interest by Year: See how your payments shift from mostly interest to mostly principal as time passes.
- Yearly Breakdown Table: Details for the first 10 years, showing how much of your payments go to principal and interest, and your remaining balance.
- Amortization Schedule: Month-by-month breakdown for the first year, so you can track your progress in detail.
- Export or Save Your Results
- Use the “Copy” button to quickly copy your results.
- Export your calculations to PDF or Excel for easy sharing or record-keeping.
Note: The calculator provides estimates. Your actual monthly payment may include additional costs like property taxes, homeowners insurance, HOA fees, and PMI if your down payment is less than 20%.
Understanding Mortgages
A mortgage is a loan you use to buy a home. Most people don’t pay the full price of a house upfront they borrow money from a lender and repay it over time, usually 15 to 30 years.
The amount you borrow, the interest rate, and your down payment all affect how much you pay each month and over the life of the loan.Mortgages can feel overwhelming, especially when you’re trying to understand how much a home will truly cost you. Factors like interest, loan term, and down payment size all play a big role in your monthly payments and total costs. This calculator helps you break down those numbers, making it easier to plan and budget for homeownership.
How This Calculator Helps
This Mortgage Calculator takes the guesswork out of understanding your potential home loan. By entering your home’s purchase price, the amount of your down payment, your expected interest rate, and the loan term in years, you’ll get:
- Monthly Payment: The estimated amount you’ll pay each month on your mortgage, not including taxes or insurance.
- Total Interest: The sum of all interest you’ll pay over the life of the loan.
- Total Payment: The total amount you’ll pay back to your lender, including both the original loan and interest.
- Balance Over Time: See how your remaining loan balance decreases year by year.
- Principal vs. Interest: Visualize how much of your payment goes to principal and how much to interest, especially in the early years.
- Yearly and Monthly Breakdown: Detailed tables show exactly how your payments are applied, helping you track your progress.
- Export and Copy Options: Easily copy your results or export them to PDF or Excel for future reference or sharing.
This tool is designed to give you a clear, complete picture of your mortgage payments—helping you make informed decisions and plan confidently.