Mortgage Calculator
Estimate your monthly mortgage payments, total interest costs, and see a full amortization schedule. Plan your home purchase with confidence.
📋 Loan Details
Fill in your mortgage information to get started.
📊 Your Results
Your mortgage snapshot based on your inputs.
⚡ Results are estimates. Actual payments may vary based on lender fees and market conditions.
Amortization Schedule
Show Annual Schedule| Year | Payment | Interest | Principal | Ending Balance |
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Understanding Your Mortgage Payment
Buying a home is one of the biggest financial decisions you'll ever make. A mortgage is a loan used to purchase a home, and understanding how your monthly payment is calculated can help you make smarter financial choices. Our Mortgage Calculator gives you a clear picture of what you'll pay each month, how much interest you'll accrue over time, and when you'll be debt-free.
Did you know? A 1% difference in your interest rate can save you tens of thousands of dollars over the life of a 30-year mortgage. Use our calculator to compare different rates and terms before committing to a loan.
What Makes Up Your Monthly Mortgage Payment?
Your monthly mortgage payment typically consists of four main components, often referred to as PITI:
- Principal — The amount you borrow to purchase your home. Each payment reduces your outstanding loan balance.
- Interest — The cost of borrowing money from the lender, calculated as a percentage of your remaining balance.
- Taxes — Property taxes collected by your local government, usually paid monthly and held in an escrow account.
- Insurance — Homeowners insurance that protects your property and belongings, also often escrowed monthly.
In addition to these core components, many homeowners also pay PMI (Private Mortgage Insurance) if their down payment is less than 20%, and HOA fees if they live in a community with a homeowners association. Our Mortgage Calculator includes all of these factors so you can see the full picture.
How to Use This Mortgage Calculator
Getting started is simple. Enter your home price, down payment, loan term, and interest rate. Then toggle the "Include Taxes & Costs" option to add property taxes, insurance, PMI, HOA fees, and other annual expenses for a more accurate estimate.
Want to explore advanced scenarios? Click the "+ More Options" button to factor in annual cost increases or add extra payments to see how much you can save on interest and how quickly you can pay off your mortgage early.
For more financial planning tools, explore our Retirement Calculator or learn about Coast FIRE to see how homeownership fits into your broader financial independence journey.
Why an Amortization Schedule Matters
An amortization schedule breaks down every payment you'll make over the life of your mortgage, showing exactly how much goes toward interest versus principal. In the early years, most of your payment goes toward interest. As time passes, more of your payment applies to reducing the principal balance.
This is why making extra payments early in your mortgage can save you substantial interest costs. Even small additional payments can shave years off your mortgage and save you thousands of dollars.
Pro Tip: Try our "Extra Payments" feature in the "More Options" section. You'll see exactly how much you can save by paying just $100 extra per month.
Fixed Rate vs. Adjustable Rate Mortgages
Most mortgages fall into two categories: fixed-rate and adjustable-rate (ARM). A fixed-rate mortgage has the same interest rate for the entire loan term, giving you predictable monthly payments. An ARM has a rate that can change periodically, which might start lower but could increase over time.
Our Mortgage Calculator works for both types, but since future rate changes are unpredictable, we recommend using the current rate to estimate your initial payments. For a more detailed comparison, you can run multiple calculations with different rates and terms side by side.
Ready to Take the Next Step?
Understanding your mortgage is the first step toward owning your dream home with confidence. Use our Mortgage Calculator to explore different scenarios, compare loan options, and create a budget that works for you.
For additional financial planning tools, be sure to explore our other calculators, including the 401(k) Calculator, Compound Interest Calculator, and Net Worth Calculator.
Start planning your financial future today — one payment at a time.
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