Mortgage Calculator
Free mortgage calculator. Enter home price, down payment, loan term, and interest rate to instantly see your monthly principal & interest payment, total loan amount, and total interest paid.
This mortgage calculator estimates the monthly principal and interest payment on a home loan. Enter the home price, your down payment (as a dollar amount or a percentage), the loan term in years, and the annual interest rate — the results update live as you type, with nothing leaving your browser.
The monthly payment is computed with the standard amortization formula M = P · r · (1 + r)n / ((1 + r)n − 1), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments. You also see the total loan amount, the total interest paid over the life of the loan, and the total of all payments, so you can compare scenarios at a glance.
Frequently asked questions
Does this include taxes and insurance?
No. This calculator shows principal and interest only. Property taxes, homeowners insurance, PMI, and HOA dues are not included and would increase your actual monthly housing cost.
Can I enter the down payment as a percentage?
Yes. Switch the down payment unit to % and enter a percentage of the home price — the loan amount is recalculated automatically.
How is the monthly payment calculated?
It uses the standard fixed-rate amortization formula based on the loan amount, the monthly interest rate (annual rate divided by 12), and the total number of monthly payments.
Is my data sent anywhere?
No. All calculations run locally in your browser; nothing is uploaded to a server.
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