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Mortgage Calculator

Calculate your monthly mortgage payment, total payment, and total interest. Perfect for planning your home purchase.

Loan Details

Results update as you type.

About Mortgage Calculations

This calculator uses the standard mortgage payment formula to calculate your monthly payment:

Formula: M = P × [r(1 + r)^n] / [(1 + r)^n - 1]

Where:
  • M = Monthly payment
  • P = Principal loan amount
  • r = Monthly interest rate (annual rate ÷ 12)
  • n = Number of payments (years × 12)

Tips for Home Buyers

Down Payment

  • 20% down payment avoids PMI insurance
  • Larger down payment reduces monthly payments
  • Smaller down payment preserves cash reserves

Interest Rate

  • Shop around for best rates
  • Consider fixed vs. adjustable rates
  • Even 0.5% difference significantly impacts total cost

Embed This Util

You can embed this util on your own site as a widget. Adding ?embed=1 to the URL loads a compact version with just the tool itself; no header, menu, or documentation. Paste this snippet into your HTML: 


    

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      Adjust the height to taste.
    

  




        

        
        
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