Mortgage Calculator
Calculate monthly mortgage payments, total interest, and amortization schedule for home loans.
Mortgage Calculator
Calculate monthly mortgage payments, total interest, and amortization schedule for home loans.
Mortgage Details
Enter mortgage details and click "Calculate" to see results.
About This Calculator
Estimate monthly mortgage payment, total interest, and long-term ownership cost.
Formula
Monthly payment uses amortization formula with principal, rate, and term
Example
For 300,000 loan, 6.5% annual, 30 years, compute monthly principal+interest from amortization.
When to Use
- Home affordability planning
- Rate and term comparisons
- Refinance break-even exploration
Best Practices
- Include property tax, insurance, and HOA separately
- Model 15-year vs 30-year trade-offs
- Test extra principal payment scenarios
FAQ
Why is early payment mostly interest?
Amortization applies interest on outstanding principal, which is highest at the beginning.
Is lower rate always better?
Usually yes, but fees and loan structure also matter.
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