About the Mortgage Calculator
Estimate the monthly payment on a home loan. Taxes and insurance are not included. This tool is free, works in your browser and needs no sign-up.
How to use the Mortgage Calculator
Enter the home price, your down payment as a percent, the yearly interest rate and the loan term. You will see the loan amount, monthly payment and total interest.
Formula used
Monthly payment = L × r × (1 + r)^n ÷ ((1 + r)^n − 1), where L = price − down payment.
Example
A 300,000 home with 20% down at 6.5% for 30 years gives a loan of 240,000 and a payment of about 1,517 per month.
Frequently asked questions
Is the Mortgage Calculator free to use?
Yes. It is completely free and you can use it as many times as you like.
How accurate is the Mortgage Calculator?
The calculator uses standard formulas, so the maths is exact. Real life results can differ because of fees, taxes, rounding or personal factors, so treat the answer as an estimate.
Do you store the numbers I enter?
No. All calculations run in your browser. The values you type are not sent to our server.
Disclaimer: results are estimates for information only. They are not financial, medical or professional advice.