🏠 Mortgage Calculator
Calculate your monthly mortgage payments, total loan cost, and view a detailed amortization schedule with principal and interest breakdown.
📊 Loan Details
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About Mortgage Calculator
This free mortgage calculator helps you estimate your monthly home loan payments and understand the total cost of your mortgage over time. See exactly how much you'll pay in principal and interest throughout your loan term.
Features
- Monthly Payment Calculation: Get accurate estimates of your monthly mortgage payment based on loan amount, interest rate, and term.
- Total Cost Analysis: See the complete picture including total amount paid and total interest over the life of the loan.
- Principal vs Interest Breakdown: Visual representation of how much goes to principal versus interest.
- Amortization Schedule: Detailed payment schedule showing how your balance decreases over time with yearly and monthly views.
- Down Payment Support: Calculate your actual loan amount after down payment.
- Real-time Updates: Results update automatically as you adjust the inputs.
Use Cases
- Home Buying Planning: Estimate what you can afford before shopping for a home.
- Refinancing Analysis: Compare your current mortgage with potential refinancing options.
- Budget Planning: Understand monthly payment obligations for personal budgeting.
- Loan Comparison: Compare different loan scenarios (15-year vs 30-year, different rates).
- Investment Analysis: Calculate costs for investment properties and rental income planning.
How to Use
- Enter Loan Amount: The total amount you want to borrow (or home price minus down payment).
- Set Interest Rate: Your annual interest rate as a percentage (e.g., 4.5 for 4.5%).
- Choose Loan Term: How many years you'll take to repay (typically 15, 20, or 30 years).
- Add Down Payment: Optional - the calculator will subtract this from the loan amount.
- Review Results: See your monthly payment, total cost, and visual breakdown.
- Explore Schedule: View yearly or monthly amortization details to see how your balance decreases.
Privacy & Security
- 100% Client-Side: All calculations happen in your browser - no data is sent to any server.
- No Data Storage: Your loan information is never saved or tracked.
- Instant Results: Fast calculations without any network requests.
- Private & Secure: Your financial planning remains completely confidential.
💡 Understanding Your Mortgage
Monthly Payment Formula: The calculator uses the standard amortization formula: M = P[r(1+r)^n]/[(1+r)^n-1], where M is monthly payment, P is principal, r is monthly interest rate, and n is number of payments.
Early Years: In the beginning, most of your payment goes toward interest. Over time, more goes to principal.
Total Interest: Shorter loan terms mean higher monthly payments but significantly less total interest paid.
Note: This calculator provides estimates. Actual mortgage payments may include property taxes, insurance (PMI), HOA fees, and other costs not included in these calculations.