🏠
Mortgage Calculator
Calculate your monthly mortgage payment, total interest, and see the full amortization schedule.
🏠Mortgage Details
$350,000
20% ($70,000)
6.5%
30 years
1.2%/yr
$100/mo
Total Monthly Payment
$2,220/mo
P&I: $1,770Tax: $350Ins: $100
Loan Amount
$280K
Total Interest
$357K
Total Paid
$637K
Principal vs Interest
Loan Balance Over Time
Key Features
💰
Monthly Payment
See your total monthly payment including principal, interest, tax & insurance.
📊
Amortization
View year-by-year breakdown of how your mortgage balance decreases.
🌍
Multi-Currency
Works for US, UK, Australian and Indian mortgages.
How to Use
1
Enter Home Price
Set the purchase price of the property.
2
Set Down Payment
Enter your down payment percentage.
3
Choose Rate & Term
Set interest rate and loan term (15 or 30 years).
4
View Payment
See monthly payment and total cost of the loan.
Formula Used
M = P × [r(1+r)^n] / [(1+r)^n - 1]M= Monthly payment
P= Principal (loan amount)
r= Monthly interest rate
n= Total number of payments
Frequently Asked Questions
A common rule: your monthly housing cost (mortgage + tax + insurance) should be under 28% of your gross monthly income. This is called the '28% rule'.