🏠Mortgage Calculator

Calculate monthly mortgage payments, total interest, and amortization schedule.

Home Price ($)

Down Payment (%)

Interest Rate (%)

Loan Term (years)

About Mortgage Calculator

Plan your home purchase with this comprehensive Mortgage Calculator. Enter the loan amount, interest rate, and term to see your monthly payment, total interest paid, and complete amortization schedule. Compare different scenarios by adjusting the down payment and interest rate. Essential for first-time homebuyers and anyone refinancing their mortgage.

How to Use Mortgage Calculator

1
Enter loan details
Input the home price, down payment, interest rate, and loan term.
2
View payment breakdown
See your monthly payment, total interest, and total cost.
3
Review amortization
Check the amortization schedule to see how your balance decreases over time.

Common Use Cases

Planning a home purchase
Comparing mortgage options
Deciding between 15-year and 30-year terms
Calculating the impact of extra payments

Frequently Asked Questions

What is included in a mortgage payment?

A basic mortgage payment includes principal and interest. Your actual payment may also include property taxes, homeowners insurance, and PMI.

How does the loan term affect payments?

A longer term (30 years) means lower monthly payments but more total interest. A shorter term (15 years) means higher payments but less total interest.

What is an amortization schedule?

An amortization schedule shows the breakdown of each payment into principal and interest over the life of the loan.

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