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Mortgage Calculator
Estimate your monthly mortgage payment, the total interest you will pay, and the full cost of a home loan or refinance.
Your numbers
$
$
%
yrs
Monthly payment
$0
Principal & interest per month
Loan amount$0
Total interest$0
Total of payments$0
How the mortgage calculator works
A mortgage payment is calculated with the standard amortizing-loan formula: the loan amount (home price minus down payment) is repaid in equal monthly installments over the term, with each payment covering the interest due that month plus a portion of the principal.
M = P · r / (1 − (1 + r)⁻ⁿ) where r = monthly rate, n = number of months
Frequently asked questions
Does this include taxes and insurance?+
No. This shows principal and interest only. Property tax, homeowners insurance, and HOA fees are added separately by your lender as part of your total housing payment.
How does the down payment affect my payment?+
A larger down payment lowers the loan amount, which reduces both your monthly payment and the total interest you pay over the life of the loan.