Mortgage Calculator
Estimate your monthly mortgage payment and total interest cost.
Frequently Asked Questions
How is a monthly mortgage payment calculated?
The standard amortization formula spreads principal and interest evenly: M = L x r(1 + r)^n / ((1 + r)^n - 1), where L is the loan amount, r the monthly rate and n the number of monthly payments.
Does this include tax and insurance?
No. This shows principal and interest only. Property tax, home insurance and any HOA fees are extra and are often collected monthly through escrow by your lender.
How does a shorter term change the cost?
A 15-year term has higher monthly payments than a 30-year term but dramatically less total interest, because the balance is repaid faster and at every point less principal is outstanding.
Is the Mortgage Calculator free, and is my data private?
Yes. It is completely free and every calculation runs locally in your browser, so the numbers and dates you enter are never uploaded, stored, or shared with anyone.
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