What does the mortgage payment include?

The monthly payment includes principal and interest only. Taxes, insurance and PMI are not included.

How does down payment affect the loan?

A higher down payment reduces your loan amount, leading to lower monthly payments and less total interest.

What happens when I make extra payments?

Extra monthly payments reduce principal faster, shorten the payoff timeline and lower the total interest cost.

Mortgage Calculator

Estimate monthly mortgage payments, total interest and payoff date using home price, down payment, loan term and interest rate.

Home Price

Down Payment (amount)

Down Payment (%)

Annual Interest Rate (%)

Loan Term (years)

Extra Monthly Payment (optional)

Loan Start Month

Understanding Mortgage Calculator Inputs

This mortgage calculator helps you estimate monthly home loan payments based on home price, down payment, interest rate and loan term. It uses the standard amortization formula used by banks and mortgage lenders worldwide.

Inputs Explained

Home price: The total purchase price of the property.

Down payment: The amount you pay upfront. A higher down payment lowers your monthly payment and overall interest.

Interest rate: The annual percentage charged by your lender.

Loan term: The number of years you will take to pay off the mortgage.

Use this calculator to compare loan offers, evaluate affordability and explore strategies like making extra payments to reduce total interest.

Frequently Asked Questions

Does this include taxes?

No. Property taxes, insurance and PMI are not included in the monthly payment shown.

What does an extra monthly payment do?

Extra payments reduce principal faster, shortening loan duration and lowering total interest paid.

Can I trust these numbers?

These values use standard mortgage formulas. Your actual costs may vary slightly depending on lender requirements.

Is my data stored?

No. Everything is calculated locally in your browser.