Mortgage Calculator
See your estimated monthly payment in seconds. Adjust any field below.
Nothing you enter is sent to or stored by us. This runs entirely in your browser. Share puts your numbers in the link itself, so anyone who opens it can see them.
View amortization schedule (year by year)
| Year | Principal Paid | Interest Paid | Ending Balance |
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Common questions
Can I calculate a 50-year mortgage?
Yes. Select 50 years from the loan term dropdown above. 50-year mortgages are uncommon and not offered by most lenders yet, but this calculator shows what the lower monthly payment (and much higher total interest) would look like if one is available to you.
What's mortgage recasting, and is it different from refinancing?
Yes, it's different. Recasting means making a lump-sum payment toward your existing loan so your lender recalculates a lower monthly payment: same rate, same lender, no new loan. Refinancing replaces your loan entirely, usually to get a new rate.
How is my mortgage payment calculated?
Your monthly payment is based on your loan amount (home price minus down payment), your interest rate, and your loan term. The calculator applies the standard amortization formula lenders use.
What's the difference between a 15-year and 30-year mortgage?
A 15-year mortgage has a higher monthly payment but far less total interest paid. A 30-year mortgage lowers your monthly payment but costs more in interest over the life of the loan.
Does this include property taxes and insurance?
No. This shows principal and interest only. Your real monthly payment may be higher once taxes, insurance, and HOA fees are added by your lender.
How much should my down payment be?
There's no fixed rule: a larger down payment lowers your loan amount, monthly payment, and total interest. Try a few amounts above to compare.
What's the best way to pay off my mortgage faster?
Making extra payments toward principal, even small ones, cuts years off your loan and saves significant interest. Recasting or refinancing to a shorter term are other options if your budget allows a higher payment.