Mortgage Calculator
Estimate your monthly mortgage or loan payment and total interest. Calculated entirely in your browser.
Enter a loan amount, rate, and term to see your payment.
How to estimate a monthly payment
- Enter the loan amount, the annual interest rate, and the term in years.
- Add a down payment if you have one. It is subtracted first, and the “Amount financed” line shows the figure the payment is calculated on.
- Read the monthly payment, which updates as you type.
- Check “Total paid” and “Total interest” to see the full cost of the loan over its term.
When to use it
Use it to compare offers before you commit. Vary the rate or the term and watch the monthly payment and the total interest move. The formula is standard fixed-rate amortization, so it fits any amortizing loan, a mortgage, a car loan, or a personal loan, not just a home.
Because it covers principal and interest only, it is a tool for judging affordability and the cost of borrowing longer. A longer term lowers the monthly payment but raises the total interest, so try a few terms to find the trade-off you can live with. Taxes, insurance, and lender fees are on top of these numbers.
Frequently asked questions
How is the monthly payment calculated?
With the standard fixed-rate amortization formula: a level monthly payment that pays the financed amount down to zero over the term, using the annual rate divided by 12. A 0% loan is simply the principal divided by the number of months.
How is the down payment applied?
It’s subtracted from the loan amount first, and the monthly payment is computed on what remains, the financed amount shown in the results.
Does the result include taxes, insurance, or fees?
No. The figures cover principal and interest only. Property taxes, insurance, and lender fees are not modeled.
Is the amount I enter uploaded anywhere?
No. The loan figures are processed entirely in your browser and never sent to a server.
Will my actual mortgage match these numbers exactly?
Probably not to the cent; lenders differ in rounding, fees, and rate conventions. Treat the results as informational estimates, not financial advice, and verify important figures with your lender.