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Mortgage Calculator

Estimate your monthly mortgage payment and the total cost of your home loan. Enter the price, your down payment, interest rate and term to see what you'll pay each month.

Mortgage Calculator

Home price($)

Down payment($)

Interest rate(%/yr)

Loan term(years)

Results update automatically as you type.

Monthly payment

$2,022.62

over 360 months

Breakdown

Loan amount: $320,000.00
Total paid: $728,142.36
Total interest: $408,142.36
Down payment %: 20.0%

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How this is calculated

P is the loan amount (price minus down payment), r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments (term in years × 12).

M = P × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]

How to use this calculator

Enter the home price, down payment, annual interest rate and loan term. Your monthly payment, loan amount and total interest update automatically.

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Frequently asked questions

No. This calculator shows principal and interest only. Add property taxes and insurance to estimate your full monthly housing cost.

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