Mortgage Calculator: Visualize Your Home Loan Payments & Amortization Schedule
Use the calculator to enter four numbers—property price, down-payment %, loan term, and interest rate—and it instantly returns your monthly payment, total interest, and a month-by-month amortization table. For example, a $350 000 home with 20 % down at 3.5 % over 30 years costs about $1 258 per month, while a $600 000 home with 10 % down at 5 % over 25 years costs roughly $3 157. Average U.S. 30-year fixed rate in 2023 was 6.54 % (Freddie Mac PMMS, 2024).
Mortgage Calculator
Results
Month
Amortization
Interest
Total Payment
Loan Left
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How to use the tool
Property Cost – type the purchase price, e.g., $350 000 or $600 000.
Down-Payment % – enter the upfront share, such as 12 % or 25 %.
Mortgage Term (Years) – choose length, e.g., 20 or 30.
Interest Rate % – input the annual rate, e.g., 3.25 % or 5.1 %.
Calculate – the tool shows monthly payment, total interest, and a full amortization schedule.
$$M ≈ \$3 157$$ per month; total paid ≈ $947 100; interest ≈ $407 100.
Quick-Facts
Median first-time buyer down payment: 13 % (NAR Profile of Home Buyers 2023).
Common loan term cap: 30 years for conforming loans (FHFA Seller/Servicer Guide 2024).
Average 30-year fixed rate 2023: 6.54 % (Freddie Mac PMMS 2024).
“Borrowers pay $2 in interest for every $1 of principal on a 30-year 6 % loan” (Federal Reserve Education Publication 2022).
FAQ
What is a mortgage calculator?
A mortgage calculator is an online tool that estimates monthly payments and total loan cost from four inputs—price, down %, term, and rate—using the standard amortization formula (CFPB, 2022).
How does the tool compute my payment?
It converts the annual rate to a monthly rate, plugs it with loan amount and total months into $$M = P \times rac{r(1+r)^n}{(1+r)^n-1}$$ then outputs payment, interest, and balance trajectory (Investopedia, “Mortgage Calculator”).
How can you lower monthly payments?
Increase down payment, extend term, improve credit to qualify for a lower interest rate, or shop loan products with lower APRs (Fannie Mae Homebuyer Guide 2023).
What does the amortization table show?
It details each month’s split between principal and interest and tracks remaining balance—“a clear roadmap of debt reduction” (Freddie Mac Consumer Education 2023).
Are online calculators accurate?
They are accurate for fixed-rate loans but ignore taxes, insurance, and HOA fees; always verify with your lender’s Loan Estimate (CFPB TILA-RESPA Guide 2022).
When should you refinance?
Refinance when the new rate is at least 1 percentage point lower and you plan to stay long enough to recoup closing costs (Mortgage Bankers Association Refinance Report 2023).
Important Disclaimer
The calculations, results, and content provided by our tools are not guaranteed to be accurate, complete, or reliable. Users are responsible for verifying and interpreting the results. Our content and tools may contain errors, biases, or inconsistencies. We reserve the right to save inputs and outputs from our tools for the purposes of error debugging, bias identification, and performance improvement. External companies providing AI models used in our tools may also save and process data in accordance with their own policies. By using our tools, you consent to this data collection and processing. We reserve the right to limit the usage of our tools based on current usability factors. By using our tools, you acknowledge that you have read, understood, and agreed to this disclaimer. You accept the inherent risks and limitations associated with the use of our tools and services.
