Mortgage Calculator
Find out your estimated monthly mortgage payment in seconds — free, no account required, and your numbers never leave your device. Enter your home price, down payment, interest rate and loan term to get a full breakdown including yearly amortisation.
Estimated Monthly Payment
$2,022.62
Loan Amount
$320,000
Total Interest
$408,142
Total Cost
$808,142
Total Payment Breakdown
This calculator provides estimates for informational purposes only and does not constitute financial or mortgage advice. Actual rates and payments will vary. Consult a licensed mortgage professional for personalised guidance.
How It Works
Enter the home price
Type in the purchase price of the property and your down payment percentage. The calculator works out your loan amount automatically.
Set rate and term
Enter your annual interest rate and choose your loan term — 10, 15, 20, 25 or 30 years.
See your payment instantly
Your monthly payment, total interest, and a principal-vs-interest breakdown update as you type — all calculated right here, never sent anywhere.
Explore the schedule
Expand the yearly amortisation table to see exactly how your balance reduces year by year.
How to Use the Mortgage Calculator
- Enter the home price — the full purchase price of the property.
- Set your down payment percentage. The dollar equivalent is shown next to the field.
- Enter the annual interest rate from your lender quote.
- Choose a loan term — 10, 15, 20, 25, or 30 years.
- See your estimated monthly payment and full cost breakdown update instantly.
- Click Show yearly amortisation schedule to view how your balance drops over time.
Understanding the Results
| Result | What it means |
|---|---|
| Monthly Payment | The fixed amount you pay each month, covering principal and interest only. |
| Loan Amount | Home price minus your down payment — this is what you borrow. |
| Total Interest | The total interest you pay over the full loan term. |
| Total Cost | Loan amount + total interest + down payment — the full cost of buying the home. |
Features
- Your data stays private: All calculations happen entirely in your browser — nothing is uploaded or stored on any server.
- No account required: Open the page and start calculating straight away.
- Real-time results: Payment and breakdown update instantly as you type — no button to press.
- Full amortisation schedule: See year-by-year principal paid, interest paid, and remaining balance.
- Visual breakdown: A bar chart shows the split between principal and total interest at a glance.
- Five loan terms: Compare 10, 15, 20, 25, and 30-year mortgages side by side by switching the term.
What the Calculator Doesn't Include
This calculator covers principal and interest only. Your real monthly payment will typically be higher once you add:
- Property taxes — usually collected monthly and held in escrow.
- Homeowner's insurance — required by most lenders.
- Private Mortgage Insurance (PMI) — required if your down payment is below 20%.
- HOA fees — if the property is in a homeowner's association.
Frequently Asked Questions
Is my financial data stored or shared?
No. All calculations run locally in your browser using JavaScript. The values you enter are never sent to or stored on any server.
How accurate is this calculator?
The calculator uses the standard fixed-rate mortgage formula and gives accurate principal and interest estimates. It doesn't include taxes, insurance, or PMI. Actual rates and fees vary by lender — always confirm with a licensed mortgage professional.
What is an amortisation schedule?
An amortisation schedule shows how each payment is split between repaying the principal and paying interest. Early in the loan, most of each payment is interest. Over time, more goes toward the principal as the balance falls.
Does this include PMI or property taxes?
No. This calculator shows principal and interest only. PMI, property taxes, and homeowner's insurance are typically added on top by your lender when calculating the full monthly payment (PITI).
What loan terms are supported?
10, 15, 20, 25, and 30-year fixed-rate mortgages — the most common terms. Adjustable-rate mortgages (ARMs) are not currently supported.
Why does a shorter loan term cost less in total?
A shorter term means you repay the loan faster, so interest has fewer years to accumulate. The monthly payment is higher, but the total interest paid over the life of the loan is significantly lower.