Mortgage Calculator
Calculate your monthly mortgage payments and view your amortization schedule.
Mortgage Calculator
Calculate your mortgage payments and view your amortization schedule.
About this calculator
Estimate monthly mortgage payments, total interest, and balance reduction over time so you can compare realistic home-buying scenarios before you apply.
- A mortgage is a loan used to purchase real estate, typically paid back over 15 to 30 years.
- The monthly payment includes principal (paying back the loan) and interest.
- Amortization refers to the process of paying off a debt over time through regular payments.
- Comparing multiple down payments, interest rates, and loan terms helps you judge both affordability and total borrowing cost.
Related Calculators
Home-Buying Planning
Use this mortgage calculator to compare realistic purchase scenarios before you commit. Run multiple versions with different down payments, loan terms, and rates so you can see what the payment does to your broader budget.
Model the full payment, not just principal and interest
A workable housing budget needs more than the base mortgage formula. Taxes, insurance, HOA dues, and a maintenance buffer can materially change whether a home still fits after the offer is accepted.
Testing multiple down payment amounts can show the tradeoff between preserving cash today and lowering the monthly payment or total interest over time.
Compare scenarios before you shop seriously
Run best-case, expected, and conservative versions of the same deal. That makes it much easier to spot when a payment only works under optimistic assumptions.
The amortization breakdown is especially useful if you may move within a few years, because it shows how slowly principal drops early in many loans.