Mortgage Calculator— Free & Private
Calculate monthly mortgage payments, total interest, and amortization schedules.
Monthly Payment
$1,816.96
All calculations happen in your browser. No data stored.
What Is a Mortgage Calculator?
A mortgage calculator estimates your monthly home loan payment based on the loan amount, interest rate, and loan term. It also shows the total interest paid over the life of the mortgage and can generate a full amortization schedule that breaks down each payment into principal and interest portions. Use it to compare different loan scenarios before committing to a mortgage. All calculations run instantly in your browser with no personal data collected.
How to Use Mortgage Calculator
Enter loan details
Input the home price, down payment amount, loan term, and annual interest rate.
Add optional costs
Include property tax, homeowner's insurance, and PMI if applicable.
View your results
Review the monthly payment, total interest, and full amortization schedule.
Compare scenarios
Adjust the inputs to compare different loan amounts, rates, and terms.
Why Use Our Mortgage Calculator?
Frequently Asked Questions
How is the monthly mortgage payment calculated?
The calculator uses the standard amortization formula: M = P[r(1+r)^n] / [(1+r)^n - 1], where P is the loan principal, r is the monthly interest rate, and n is the number of payments.
Does the calculator account for property taxes and insurance?
Yes. You can enter estimated annual property tax and homeowner's insurance amounts, and they will be included in the total monthly payment estimate.
What is PMI and when does it apply?
Private Mortgage Insurance (PMI) is typically required when your down payment is less than 20% of the home price. The calculator includes an optional PMI field to reflect this additional cost.