Finance & Money
Mortgage Calculator - Calculate Your Home Loan Payments
Calculate monthly mortgage payments, total interest, and amortization schedule
Formulas and edge cases are reviewed against authoritative references before publication. For methodology, editorial standards, or corrections, use the links below.
Frequently asked questions
How much house can I afford?
A common rule is that your monthly housing costs shouldn't exceed 28% of your gross monthly income.
What is a good down payment?
While 20% is traditional, many loans accept 3-5% down. Larger down payments mean lower monthly payments.
Should I choose 15 or 30 year mortgage?
15-year has higher payments but less total interest. 30-year has lower payments but costs more over time.
Related tools
About this tool
Inputs
- Loan Amount
- Interest Rate
- Loan Term
- Down Payment
Results
- Monthly Payment
- Total Interest
- Total Payment
The Mortgage Calculator is built for anyone who needs a quick, reliable answer. Enter your numbers and let the formula do the heavy lifting. Enter loan amount, interest rate, loan term and down payment. The tool processes your data and returns monthly payment, total interest and total payment. People frequently need to calculate monthly mortgage payments, total interest, and amortization schedule but lack a quick way to do it — this tool fills that gap.
Tax implications can significantly alter net returns, so treat these results as a starting point. Whether saving for retirement or evaluating a loan, running the numbers removes guesswork. A common rule is that your monthly housing costs shouldn't exceed 28% of your gross monthly income. The underlying math typically involves compound growth: FV = PV × (1 + r/n)^(n×t). Results are rounded for display; the underlying computation retains full precision.