Calculate your monthly mortgage payments. It is completely free and very easy to use.
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Learn how loans work and how to calculate your monthly payments.
The process of paying off a debt over time with regular payments that cover both principal and interest.
The Mortgage Calculator estimates monthly home loan payments, interest allocations, property taxes, home insurance, and complete loan amortization schedules over 15-year, 20-year, or 30-year terms.
Computes fixed-rate monthly principal and interest using the standard amortization formula $M = P \frac{r(1+r)^n}{(1+r)^n - 1}$, where $P$ is principal, $r$ is monthly rate, and $n$ is total payments. It breaks down periodic interest compounding and calculates remaining loan balances after extra principal payments.
Loan: $400,000, Rate: 6.5%, Term: 30 YearsMonthly Principal & Interest: $2,528.27 | Total Interest: $510,177 | Total Loan Cost: $910,177Shows that over 30 years, interest charges exceed the original principal borrowed if only minimum payments are made.
No. All mortgage calculations are performed entirely inside your browser using client-side JavaScript. Your financial details never leave your device.
The tool uses the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n – 1], where P is the loan principal, r is the monthly interest rate, and n is the total number of monthly payments.
The total monthly payment includes principal and interest (P&I), plus monthly portions of annual property tax, annual homeowners insurance, and any monthly HOA (Homeowners Association) fees you enter.
An amortization schedule is a month-by-month table showing how each payment is split between principal and interest, along with the remaining loan balance after each payment.
Yes! You can enter any loan term in years or months. Common terms are 15-year and 30-year fixed-rate mortgages, but the calculator supports any duration.