40 Year Mortgage Calculator
Calculate monthly payments for a 40-year mortgage and compare to shorter terms.
40 Year Mortgage Calculator
Calculate monthly payments for extended-term mortgages
Use our main calculator and select 40 years as the loan term
Go to Main CalculatorAdvantages
- Lower Payments: ~15% lower than 30-year
- Easier Qualification: Lower DTI ratio
- More Buying Power: Afford higher-priced homes
- Flexibility: Can make extra payments
Disadvantages
- More Interest: Pay 35%+ more total interest
- Slower Equity: Takes longer to build equity
- Less Common: Not all lenders offer
- Higher Rates: May have higher rates
Term Comparison: $300,000 Loan at 6%
15-Year LoanBest Total Cost
Payment: $2,531/month | Total Interest: $155,630
30-Year LoanStandard
Payment: $1,799/month | Total Interest: $347,515
40-Year LoanLowest Payment
Payment: ~$1,648/month | Total Interest: ~$491,040
Calculate Your 40-Year Mortgage
Use our mortgage calculator to see your monthly payment and total interest with a 40-year term.
Start Calculating