30-Year Mortgage Calculator: Estimate Payments, Interest & Payoff Date
Estimate your 30-year mortgage payment in seconds: enter the loan amount, rate and any extra monthly contribution—the calculator applies the standard amortization formula to show payment, total interest and payoff date. A $350 000 loan at 5.25 % costs about $1 932 per month and $345 520 in interest over 30 years (Freddie Mac, 2023).
30-Year Mortgage Calculator
Results
Monthly Payment
Total Paid
Total Interest Paid
Loan Payoff Date
With Additional Payments
New Payoff Date
Time Saved
Interest Savings
Amortization Chart
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How to use the tool
1 • Loan amount
Type the principal you expect to borrow.
$275 000 for a condo purchase
$480 000 for a single-family refinance
2 • Annual interest rate (%)
Insert the lender’s quoted rate.
5.25 %
6.10 %
3 • Start date (optional)
Select the month your first payment is due to see an exact payoff date.
4 • Additional monthly payment (optional)
Add any extra you plan to pay toward principal—e.g., $150 or $250—to see time and interest savings.
5 • Press “Calculate” and read:
Monthly payment
Total paid and total interest
Payoff date with and without extra payments
Amortization chart of principal vs. interest
Formulas used
The tool applies the fixed-rate mortgage equation:
Average 30-year rate peaked at 7.08 % in Oct 2022 (Freddie Mac PMMS, 2022).
Minimum down payment on conventional loans: 3 % (Fannie Mae Selling Guide, 2023).
Every extra $100 monthly on a $300 k loan at 6 % saves ≈ $38 k interest (Federal Reserve mortgage calculator, 2023).
Frequently asked questions
How does the calculator find my payment?
It plugs your data into the amortization formula shown above, then rounds to the nearest cent (CFPB, 2021).
Why is the term fixed at 30 years?
Thirty-year loans dominate U.S. mortgage originations—over 70 % in 2022 (Mortgage Bankers Association, 2023).
What if I enter a 0 start date?
The tool still returns payment, but payoff date reads “N/A” because it has no calendar anchor.
Do extra payments always reduce interest?
Yes. Any sum above scheduled principal lowers balance immediately and cuts future interest charges (CFPB, 2022).
Is PMI included?
No. The calculator covers principal and interest only; add taxes, insurance, and PMI separately for full escrow.
How accurate are the results?
They match to within pennies of lender disclosures when the same inputs are used (Freddie Mac calculator validation, 2022).
Can I model ARM loans here?
No. Adjustable-rate mortgages need changing rates; this tool assumes a constant rate for 360 months.
Where can I check today’s rates?
Visit the Freddie Mac Primary Mortgage Market Survey for weekly national averages (https://www.freddiemac.com).
Important Disclaimer
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