Mortgage Calculator
Calculate mortgage payments with full amortization schedule.
How to Use Mortgage Calculator
- 1Enter the loan amount (home price minus down payment).
- 2Set the annual interest rate your lender has offered.
- 3Choose the loan term (15, 20, or 30 years are most common).
- 4See your monthly payment, total cost, and full amortization schedule.
Frequently Asked Questions
What is an amortization schedule?
A table showing each payment broken down into principal and interest components, along with the remaining balance. Early payments are mostly interest; later payments are mostly principal.
Does this include property tax and insurance?
No — this calculates principal and interest (P&I) only. Your actual monthly outlay will include property taxes, homeowner's insurance, and possibly PMI.
How does the interest rate affect my payment?
Significantly. On a $300,000 loan over 30 years, a 1% rate increase adds roughly $170/month and ~$60,000 in total interest.
About Mortgage Calculator
Our Mortgage Calculator uses the standard amortization formula to compute your monthly payment and show the complete payment schedule. Understanding your amortization helps you make informed decisions about extra payments, refinancing, and how much home you can afford.