Mortgage Calculator

Free mortgage calculator. Calculate your monthly mortgage payment including principal, interest, down payment, and loan term.

How the Mortgage Calculator works

The mortgage payment uses the same amortization formula as a standard loan. The loan principal is the home price minus the down payment, the monthly rate is the annual rate divided by 12, and the term is converted to total months.

Formula

M = P × r(1+r)^n / ((1+r)^n − 1)

How to use the Mortgage Calculator

  1. 1The mortgage calculator is designed to be simple and fast.
  2. 2Enter the home price.
  3. 3Enter your down payment.
  4. 4Enter the interest rate.
  5. 5Enter the loan term.
  6. 6Your result is shown immediately.

Examples

  • $350,000 home, $70K down, 6.5%, 30yr = $1,796/month
  • $500,000 home, $100K down, 5.5%, 15yr = $3,696/month

Benefits

  • Completely free with no signup required.
  • Runs entirely in your browser for instant results and privacy.
  • Works on mobile, tablet and desktop.
  • Results can be copied with one click.

Frequently Asked Questions

Is the mortgage calculator free to use?

Yes. The mortgage calculator is 100% free, with no signup, no watermark and no hidden limits.

Does the mortgage calculator store my data?

No. All calculations and processing happen locally in your browser. Nothing is uploaded to a server.

Does the mortgage calculator work on mobile?

Yes. The mortgage calculator is fully responsive and works on phones, tablets and desktop computers.

How is mortgage calculated?

Monthly payment = P × r × (1+r)^n / ((1+r)^n - 1), where P is loan amount (price minus down payment), r is monthly rate, n is total months.

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