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Mortgage Calculator

Calculate your monthly payments, compare loan options, and determine what you can afford

Loan Details
Enter your mortgage information

$300,000

20.0% of home price ($60,000)

Additional Costs
Monthly expenses beyond mortgage

$3,000

$1,200

Required if down payment < 20% ($0)

$0

Extra Payments
Pay off your mortgage faster

Monthly Payment

$1,517

Principal & Interest

Total Monthly

$1,867

Including all costs

Total Interest

$306,107

Over life of loan

Total Cost

$546,107

Principal + Interest

Payment Breakdown
Amortization Schedule
See how your loan balance decreases over time
YearPaymentPrincipalInterestBalance
1$1,517$217$1,300$239,783
1$1,517$230$1,287$237,317
2$1,517$246$1,271$234,455
3$1,517$262$1,255$231,401
4$1,517$280$1,237$228,143
5$1,517$298$1,219$224,666
6$1,517$318$1,199$220,957
7$1,517$340$1,177$216,999
8$1,517$362$1,155$212,776
9$1,517$387$1,130$208,270
10$1,517$413$1,104$203,463
11$1,517$440$1,077$198,333
12$1,517$470$1,047$192,860
13$1,517$501$1,016$187,021
14$1,517$535$982$180,790
15$1,517$571$946$174,142
16$1,517$609$908$167,049
17$1,517$650$867$159,481
18$1,517$693$824$151,405
19$1,517$740$777$142,790
20$1,517$789$728$133,597
21$1,517$842$675$123,788
22$1,517$898$619$113,323
23$1,517$958$559$102,156
24$1,517$1,023$494$90,242
25$1,517$1,091$426$77,530
26$1,517$1,164$353$63,967
27$1,517$1,242$275$49,495
28$1,517$1,325$192$34,054
29$1,517$1,414$103$17,579
30$1,517$1,509$8$0

How to Use Our Mortgage Calculator

Our comprehensive mortgage calculator helps you estimate your monthly home loan payments and understand the total cost of your mortgage. Whether you're a first-time homebuyer or refinancing, our tool provides accurate calculations to help you make informed decisions.

Key Features

  • Monthly Payment Calculator: Calculate your principal and interest payments based on loan amount, interest rate, and loan term.
  • Amortization Schedule: View detailed breakdown of how your payments are applied to principal and interest over time.
  • Loan Comparison: Compare two different mortgage scenarios side-by-side to find the best option.
  • Affordability Calculator: Determine how much house you can afford based on your income and debts.
  • Extra Payment Analysis: See how additional payments can save you thousands in interest and shorten your loan term.
  • Refinance Calculator: Estimate your savings and new monthly payments if you choose to refinance.
  • Rent vs Buy Calculator: Compare the costs of renting versus buying a home to make the right financial decision.
  • Multi-Currency Support: Calculate mortgages in multiple currencies.

Understanding Your Mortgage Payment

Your total monthly mortgage payment typically includes four components (PITI): Principal, Interest, Taxes, and Insurance. Our calculator accounts for all these factors plus PMI and HOA fees to give you the most accurate estimate possible.