Mortgage Calculator
Calculate your monthly mortgage payment, total interest, and full amortization schedule in your browser.
Amortization schedule
| Year | Principal | Interest | Balance |
|---|
Estimate only. Figures exclude PMI, closing costs, and any escrow shortfalls unless you enter them above. Property tax and insurance rates vary by location — confirm with your lender.
This free mortgage calculator estimates your monthly home loan payment from the home price, down payment, loan term, and interest rate, then adds property tax, home insurance, and HOA dues to show your true total monthly cost. It computes principal and interest with the standard amortization formula, reports total interest and the total of all payments over the life of the loan, and builds a year-by-year (or month-by-month) amortization schedule showing how each payment splits between principal and interest. Everything runs entirely in your browser — no figures are sent to a server, there are no ads or signup, and you can display results in over 20 currencies.
Frequently Asked Questions
How is the monthly mortgage payment calculated?
Principal and interest use the standard amortization formula M = P·r·(1+r)^n / ((1+r)^n − 1), where P is the loan amount (price minus down payment), r is the monthly interest rate (annual APR ÷ 12 ÷ 100), and n is the number of months (years × 12). For a 0% loan the payment is simply the loan amount divided by the number of months.
What is included in the total monthly payment?
The total monthly payment adds your monthly property tax (annual tax ÷ 12), monthly home insurance (annual premium ÷ 12), and any monthly HOA dues on top of principal and interest. This gives a realistic estimate of what you would actually pay each month, often called PITI plus HOA.
Does this mortgage calculator include PMI and closing costs?
No. The figures are an estimate of principal, interest, tax, insurance, and HOA only. Private mortgage insurance (PMI), closing costs, points, and escrow shortfalls are not included unless you add them to one of the input fields. Always confirm exact numbers with your lender.
What is an amortization schedule?
An amortization schedule shows, for each payment, how much goes toward principal versus interest and the remaining loan balance. Early payments are mostly interest; over time more goes to principal. This calculator shows a yearly summary by default and can switch to a month-by-month breakdown.
Can I enter the down payment as a percentage or a dollar amount?
Both. Use the toggle next to the down payment field to switch between a percentage of the home price (for example 20%) and a fixed amount. The loan amount is automatically recalculated as home price minus down payment.
How much total interest will I pay over the loan?
The calculator shows total interest and the total of all payments over the full term. On a 30-year loan you often pay a large share of the principal again in interest, which is why the total interest figure can be eye-opening. Shortening the term or increasing the down payment reduces it substantially.
Is my financial data private?
Yes. The entire calculation runs locally in your browser using JavaScript. Nothing you type — home price, income-related figures, or otherwise — is uploaded, stored, or shared. There is no account or signup required.
Can I see payments in a currency other than US dollars?
Yes. Pick from over 20 currencies (USD, EUR, GBP, INR, AUD, CAD and more) in the currency selector. This changes the display symbol and formatting only; the math is identical regardless of currency.