Calculate your monthly mortgage payments and plan your home purchase
Essential features for home buyers and real estate investors
Get precise monthly payment estimates based on current loan parameters.
See how each payment breaks down between principal and interest over time.
Use on any device - desktop, tablet, or smartphone.
No hidden fees, watermarks, or subscriptions. Completely free to use.
Three simple steps to estimate your home loan payments
Input your loan amount, interest rate, and loan term using the sliders or direct input.
Click "Calculate" to see your estimated monthly payment and total loan cost.
Analyze your payment breakdown and view the full amortization schedule.
Even a 0.5% difference in interest rate can save you thousands over the life of your loan.
A 20% down payment typically avoids private mortgage insurance (PMI) and reduces your monthly payment.
A 15-year loan will have higher monthly payments but significantly less interest paid overall.
Higher credit scores qualify for better interest rates. Check and improve your score before applying.
Remember to factor in property taxes, insurance, maintenance, and potential HOA fees.
Find answers to common questions about home loans
The monthly payment is calculated using the standard mortgage formula that accounts for the loan amount, interest rate, and loan term. It includes both principal and interest payments.
No, this calculator shows only the principal and interest portions of your mortgage payment. Property taxes, homeowners insurance, and PMI (if applicable) would be additional costs.
A fixed-rate mortgage maintains the same interest rate for the entire loan term. An adjustable-rate mortgage (ARM) has an initial fixed period, then adjusts periodically based on market rates.
While 20% down is traditional to avoid PMI, many loans allow as little as 3-5% down. The right amount depends on your financial situation, loan options, and local market conditions.
Paying points (prepaid interest) can lower your rate but increases upfront costs. Generally, it's worth considering if you'll keep the loan long enough to recoup the cost through lower payments.
Plan your home purchase with confidence using our free calculator
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