Mortgage Calculator
Home loan repayments.
Home loan repayments.
This is a simplified estimate for general information only — not financial, tax, or legal advice. Real figures vary by lender, rate, jurisdiction and your own circumstances, so confirm with a qualified professional before acting.
How to use Mortgage Calculator
- Enter home price, down payment, rate, and loan term
- Read your estimated monthly mortgage payment
- Review the total interest and total amount paid
About Mortgage Calculator
The Mortgage Calculator turns four numbers into a clear monthly payment estimate: home price, down payment, annual interest rate, and loan term in years. It subtracts your down payment to find the loan amount, then runs the standard amortization formula to show your monthly principal-and-interest payment, the total interest you'll pay, and the total amount paid over the life of the loan. Every figure updates live as you type, so you can watch the numbers move instead of re-running anything.
That makes it useful for the questions people actually ask before signing: how much would my payment be at this price, what does a bigger down payment save me, and how do a 15-year and a 30-year term compare on total interest. If you've used the calculators on Bankrate or Zillow, the core math here is the same principal-and-interest calculation those tools show. The one difference to keep in mind is that this tool covers principal and interest only. It does not add property taxes, homeowners insurance, HOA dues, or PMI, so your real-world monthly bill will be higher than the estimate here.
It's completely free, with no sign-up, account, or usage limit. Everything runs entirely in your browser: your home price, down payment, and rate never leave your device and nothing is uploaded to a server.
Frequently asked questions
- Is this mortgage calculator free to use?
- Yes, it is 100% free with no sign-up, account, or hidden fees. Use it as many times as you like.
- How do I calculate my monthly mortgage payment?
- Enter your home price, down payment, annual interest rate, and loan term in years. The calculator subtracts the down payment to get the loan amount, applies the amortization formula, and shows your monthly principal-and-interest payment instantly.
- How is the monthly payment calculated?
- It uses the standard amortization formula on the loan amount (home price minus down payment), your monthly interest rate, and the total number of monthly payments over the term. The result is a fixed monthly principal-and-interest figure.
- Does it include property tax, insurance, or PMI?
- No. This calculator estimates principal and interest only. Property taxes, homeowners insurance, HOA dues, and PMI are not included, so your actual monthly housing cost will be higher.
- How does this compare to the Bankrate mortgage calculator?
- The underlying principal-and-interest math is the same as Bankrate's. The main difference is that Bankrate lets you fold in taxes and insurance for a full monthly estimate, while this tool focuses only on principal and interest.
- Is this the same as the Zillow mortgage calculator?
- It uses the same core payment formula, but Zillow's monthly estimate typically bundles in property taxes, homeowners insurance, HOA fees, and PMI. This calculator shows the principal-and-interest portion on its own.
- How much does my down payment change the monthly payment?
- A larger down payment shrinks the loan amount, which lowers both your monthly payment and the total interest you pay over the term. Try a few down payment amounts to see the difference side by side.
- What happens if I change the interest rate or loan term?
- Both update the results live. A longer term lowers the monthly payment but raises total interest, while a higher rate increases both your payment and total interest.
- What is the total interest figure?
- Total interest is the total amount you pay minus the original loan amount, showing how much the loan costs you in interest over the full term.
- Can I use it for any loan term or interest rate?
- Yes. Enter any term in years and any annual rate, including 0%, and the results update instantly.
- Is my financial data uploaded anywhere?
- No. All calculations happen locally in your browser, so your home price, down payment, and other numbers never leave your device.