Mortgage Calculator
Estimate your monthly mortgage payment.
Excludes property tax, insurance, and HOA fees.
About Mortgage Calculator
Estimate your monthly mortgage payment for free with this simple mortgage calculator. Enter the home price, your down payment, the interest rate, and the loan term, and you'll instantly see your monthly principal-and-interest payment, the total interest you'll pay over the life of the loan, and the total amount repaid. It's the fast way to see how much house you can afford and how the down payment, rate, and term each change your monthly cost. Adjust the numbers to compare 15-year versus 30-year terms or different rates before you talk to a lender.
How to use this tool
- 1Enter the home price and your down payment.
- 2Set the interest rate and loan term.
- 3See your monthly payment and total interest instantly.
What actually drives your monthly payment
A mortgage payment has up to four parts - principal, interest, taxes, and insurance (PITI) - but the principal-and-interest core is set by three numbers: loan amount, rate, and term. Small rate changes move the payment more than most buyers expect.
| Rate | Monthly P&I | Total interest over 30 years |
|---|---|---|
| 5.0% | $1,610 | ≈ $279,800 |
| 6.0% | $1,799 | ≈ $347,500 |
| 7.0% | $1,996 | ≈ $418,500 |
| 8.0% | $2,201 | ≈ $492,500 |
Each percentage point on a $300k loan is roughly $200/month and ~$70,000 over the life of the loan. This is why rate shopping and points math matter, and why a 15-year term - despite the higher payment - cuts total interest by more than half.
Frequently asked questions
Does this include taxes and insurance?
No, it calculates principal and interest only. Property tax, insurance, and HOA fees vary by location and are added on top.
How does the down payment affect the result?
The down payment is subtracted from the home price; you only pay interest on the remaining loan amount.
Related guide
7 min readHow Mortgage Payments Actually Work (Amortization Explained)
Where your mortgage payment really goes each month, why early payments are almost all interest, and how extra payments save tens of thousands.