Mortgage Calculator
Estimate your monthly mortgage payment including principal, interest and down payment.
Result
Results are estimates for general information only and are not professional advice.
What is a mortgage calculator?
A mortgage calculator estimates the monthly payment on a home loan so you can judge how much house you can afford before you make an offer. It is based on the amount you actually borrow — the home price minus your down payment — along with the interest rate and the length of the loan.
How the payment is calculated
The monthly principal-and-interest payment uses the amortization formula P × r × (1 + r)ⁿ / ((1 + r)ⁿ − 1), where P is the financed amount, r is the monthly rate and n is the number of monthly payments. A larger down payment lowers P, while a longer term spreads the balance over more payments, reducing each one but increasing total interest.
How to use this calculator
Enter the home price, your down payment, the annual interest rate and the term in years, then press Calculate. You will see the monthly principal-and-interest payment, the amount financed and the total interest paid over the life of the mortgage.
Tips for home buyers
Remember that a real mortgage payment often also includes property tax, home insurance and sometimes mortgage insurance, so budget above the principal-and-interest figure. Even a small drop in the interest rate, or a slightly larger down payment, can save many thousands over a 25- or 30-year term.
Frequently Asked Questions
What is the Mortgage Calculator?
Estimate your monthly mortgage payment including principal, interest and down payment. It runs instantly in your browser and is completely free to use.
What do I need to enter to use the Mortgage Calculator?
The Mortgage Calculator asks for the following values (4): Home price, Down payment, Annual interest rate (%), Term (years). Fill them in and the result appears immediately — the calculation runs on your own device, so nothing you type is sent to a server.
How accurate is the Mortgage Calculator?
The Mortgage Calculator uses standard, widely-accepted formulas, so its figures are reliable estimates for everyday planning. They are not a substitute for advice from a qualified professional.
Is the Mortgage Calculator free, and do I need an account?
Yes. The Mortgage Calculator — and every other calculator on Calculatis — is completely free, with no registration, no download and no limit on how often you use it.