A mortgage calculator helps you understand what a home loan will cost each month before you commit. This tool shows your monthly payment, total interest and total cost.
Adjust the home price, down payment, interest rate and term and the results update instantly in your browser.
How to use the Mortgage Calculator
- Enter the home price and down payment.
- Enter the interest rate and choose a term.
- See your monthly payment and total interest.
What a mortgage payment includes
The core monthly payment covers principal and interest, calculated with the standard amortisation formula from the loan amount, rate and term. Real monthly housing cost is usually higher, because lenders often collect property tax and insurance on top. The calculator gives you the principal and interest figure that loan offers quote, which is the number to compare between banks.
Down payment and term trade-offs
A larger down payment shrinks the loan and can unlock better rates. On term, the pattern is universal: a 15 year mortgage carries a higher monthly payment but roughly half the total interest of a 30 year loan on the same amount. Early in any mortgage, most of each payment is interest; the principal share grows over time, which is why extra payments made early save the most.
Common uses
- Estimating a realistic budget before house hunting
- Comparing offers with different rates and terms
- Seeing the interest saved by a shorter term or bigger deposit
- Checking refinancing numbers
Embed this tool on your website
Copy this code into your blog or website to give your readers a working Mortgage Calculator, free. Please keep the credit link.
Frequently asked questions
Is the mortgage calculator free?
Yes, free with no signup.
Does it include taxes and insurance?
It estimates principal and interest. Taxes and insurance vary by location.
Is my data stored?
No. Everything is calculated in your browser.
Can I change the down payment?
Yes. The monthly payment and totals update as you adjust it.