Mortgage Calculator
Last updated: June 3, 2026Estimate your monthly home loan payment.
Mortgage Calculator is a free online calculator to estimate your monthly home loan payment. It runs entirely in your browser, so your files never leave your device — nothing is uploaded. There's no sign-up, no watermark, and it works on any modern browser on desktop or mobile.
Disclaimer: This calculator is for informational and educational purposes only and is not financial advice. Actual figures depend on your provider, interest rates, fees, taxes and personal circumstances. Consult a qualified financial professional before making financial decisions.
How to use Mortgage Calculator
The Mortgage Calculator estimates your monthly home-loan payment (principal and interest) plus the total interest and total cost over the life of the loan. Enter the home price, down payment, interest rate and term to see the numbers instantly. Free and private.
Read the full guide: How to Calculate Mortgage Payments (Free Calculator)
- 1Enter the home price and your down payment.
- 2Add the interest rate (APR) and term in years.
- 3See your monthly payment, total interest and total cost.
Full cost picture
See the monthly payment and the total interest you'll pay over the term.
Instant what-ifs
Adjust the rate, term or down payment to compare scenarios live.
Free, no sign-up
Estimate your payment privately in your browser.
Compare a 15-year vs 30-year mortgage
Deciding between loan terms comes down to monthly affordability versus lifetime interest. Enter the same home price, down payment and rate, then switch the term between 15 and 30 years to watch both the monthly payment and total interest update instantly. You will see how a shorter term raises the monthly figure but saves tens of thousands in interest over the life of the loan.
Find a home price within your budget
If you know roughly what monthly payment you can handle, work backward to a realistic house price. Lock in your expected rate, term and down payment, then nudge the home price up or down until the monthly principal and interest lands where you want it. This reverse approach helps set a sensible shopping ceiling before you start browsing listings or talking to a lender.
See how a bigger down payment lowers payments
Wondering whether to save longer before buying? Keep the home price, rate and term fixed and raise the down payment field to see your loan amount, monthly payment and total interest all drop together. Comparing a 10%, 15% and 20% down payment side by side shows exactly how much each extra dollar saved up front reduces what you pay every month and overall.
Mortgage Calculator — frequently asked questions
How is the monthly mortgage payment calculated?
It uses the standard amortization formula M = P·r·(1+r)ⁿ ÷ ((1+r)ⁿ − 1), where P is the loan amount, r the monthly rate and n the number of payments.
Does this include taxes and insurance?
No — it's principal and interest only. Property tax, home insurance, PMI and HOA fees are extra and raise your real monthly payment.
How much down payment do I need?
20% avoids PMI on most conventional loans, but many buyers put down less. A bigger down payment lowers both your monthly payment and total interest.
Is it free?
Yes, completely free with no account.
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