🏠 Mortgage Calculator
Estimate your monthly principal-and-interest payment and see how your balance falls each year.
Estimates only. Results are general calculations, not financial advice. Real offers may include fees, taxes, insurance and different rounding. Check with your lender or a qualified adviser.
How to use the Mortgage Calculator
- Enter the home price and your down payment.
- Enter the annual interest rate and the term in years.
- Read your monthly payment, total interest and the yearly table.
Examples
- A $320,000 loan at 6% for 30 years has a monthly payment of about $1,918.56.
Formula and method
Loan = price − down payment. Monthly rate r = annual rate ÷ 12. Payment = L × r ÷ (1 − (1 + r)^−n), where n is the number of months. At 0% interest the payment is L ÷ n. Property tax, insurance and fees are not included.
Frequently asked questions
Does this include property tax and insurance?
No. It shows principal and interest only.
Are the starting numbers real offers?
No. They are examples. Replace them with your own figures.
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