Mortgage Calculator
See your monthly payment, total interest, and the payoff effect of paying extra.
How to use it
- Enter the home price, your down payment, and the interest rate.
- Pick a loan term and add any extra monthly payment.
- Read the monthly payment, totals, and the payoff effect.
About this tool
The mortgage calculator works out the monthly principal and interest payment using the standard amortizing formula, then shows total interest, total paid, and payoff time. Adding an extra monthly payment shows how many months and how much interest you save. It does not include property tax, insurance, or HOA fees, so your real monthly cost will be higher than the principal and interest figure shown here.
Examples
$400,000 home, 20 percent down, 6.5 percent, 30 yearsAbout $2,022 per monthAdd $200 extra each monthYears off the loan and thousands less interestCommon uses
- Estimate a monthly mortgage payment
- Compare 15, 25, and 30 year terms
- See the total interest a loan will cost
- Test how extra payments shorten a loan
FAQ
Is my financial information sent anywhere?
How is the monthly payment calculated?
What does an extra monthly payment do?
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Open toolEmbed this tool
Paste this snippet to put the tool on your own site. It runs entirely in the visitor's browser, the same as it does here.