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Finance

Mortgage Calculator

Estimate monthly principal and interest payments and see your balance fall over time.

Amounts stay on this deviceMethod and assumptions below

Your financial inputs

Runs on your device

YOUR FINANCIAL SUMMARY

Your result

Let’s calculate.

Use the Calculate button to see your result.

Estimate based on your inputs and the stated assumptions.

How to use this tool

  1. Enter loan amount, annual interest rate, loan term.
  2. Select Calculate to view the result.
  3. Check the method and assumptions below before using the result.

The method, explained

Monthly payment = P × r ÷ [1 − (1 + r)^−n], where P is principal, r is annual interest ÷ 1200, and n is the number of monthly payments. At 0% interest, payment = P ÷ n.

A WORKED EXAMPLE

A loan of 100,000 at 6% over 30 years has a monthly principal-and-interest payment of approximately 599.55.

What to keep in mind

This fixed-rate estimate excludes property taxes, insurance, association fees and lender charges. It is not a loan offer. Actual lender rounding may differ.

Common questions

Does this include a down payment?

Enter the amount you will borrow after the down payment, not the full property price.

Why is my lender payment higher?

Your payment may also include taxes, insurance, mortgage insurance or fees, none of which are included here.

Methodology maintained by ClarityKit. How these tools are built and checked.