Mortgage & Home Loan Calculator
Estimate your monthly mortgage payment, total interest, and total cost of buying a home in the United States.
Mortgage Payment Breakdown
About This Mortgage Calculator
Buying a home is one of the largest financial decisions many Americans make. A mortgage calculator can help you estimate the monthly payment before you apply for a home loan. Our free mortgage calculator is designed for users in the United States and lets you enter the home price, down payment, interest rate, and loan term to estimate the principal and interest portion of a typical fixed-rate mortgage.
The calculator first subtracts your down payment from the home price to determine the estimated loan amount. It then uses the interest rate and loan term to calculate the monthly principal and interest payment. The result also shows the estimated total interest paid over the full loan term and the total amount paid toward the mortgage.
Your actual monthly housing cost may be higher than the number shown here. Property taxes, homeowners insurance, mortgage insurance, HOA fees, closing costs, and other expenses are not included in the basic calculation. These costs can vary significantly depending on your location, property, lender, credit profile, and loan program.
A longer mortgage term generally produces a lower monthly payment but can result in substantially more interest over time. A larger down payment can reduce the amount borrowed and may also reduce the need for private mortgage insurance in some situations. Comparing different interest rates and loan terms before purchasing a home can therefore be useful.
Use this calculator to compare different home prices, down payments, interest rates, and repayment periods. The interactive chart provides a visual representation of how much of your total mortgage cost is principal and how much is interest.
Important Note
This calculator provides an estimate for educational and planning purposes. It is not a loan offer, financial recommendation, or guarantee of the rate or payment you will receive from a lender.