A home price is only the beginning.
Estimate the real monthly cost.
Calculate your mortgage amount, monthly payment, total interest, and amortization schedule before you commit to a loan.
Mortgage Calculator
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Mortgage Calculator
Estimate your mortgage payment, affordability, and total borrowing cost.
| Year | Payments | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $ 16,595 | $ 8,027 | $ 8,568 | $ 342,064 |
| 2 | $ 16,595 | $ 8,230 | $ 8,365 | $ 333,928 |
| 3 | $ 16,595 | $ 8,438 | $ 8,157 | $ 325,586 |
| 4 | $ 16,595 | $ 8,651 | $ 7,944 | $ 317,033 |
| 5 | $ 16,595 | $ 8,870 | $ 7,725 | $ 308,264 |
| 6 | $ 16,595 | $ 9,094 | $ 7,501 | $ 299,273 |
| 7 | $ 16,595 | $ 9,324 | $ 7,271 | $ 290,054 |
| 8 | $ 16,595 | $ 9,560 | $ 7,035 | $ 280,603 |
| 9 | $ 16,595 | $ 9,802 | $ 6,793 | $ 270,912 |
| 10 | $ 16,595 | $ 10,050 | $ 6,545 | $ 260,977 |
| 11 | $ 16,595 | $ 10,304 | $ 6,291 | $ 250,790 |
| 12 | $ 16,595 | $ 10,564 | $ 6,031 | $ 240,345 |
| 13 | $ 16,595 | $ 10,832 | $ 5,763 | $ 229,637 |
| 14 | $ 16,595 | $ 11,106 | $ 5,490 | $ 218,657 |
| 15 | $ 16,595 | $ 11,386 | $ 5,209 | $ 207,400 |
| 16 | $ 16,595 | $ 11,674 | $ 4,921 | $ 195,859 |
| 17 | $ 16,595 | $ 11,970 | $ 4,626 | $ 184,025 |
| 18 | $ 16,595 | $ 12,272 | $ 4,323 | $ 171,892 |
| 19 | $ 16,595 | $ 12,583 | $ 4,013 | $ 159,453 |
| 20 | $ 16,595 | $ 12,901 | $ 3,694 | $ 146,698 |
| 21 | $ 16,595 | $ 13,227 | $ 3,368 | $ 133,621 |
| 22 | $ 16,595 | $ 13,561 | $ 3,034 | $ 120,214 |
| 23 | $ 16,595 | $ 13,904 | $ 2,691 | $ 106,467 |
| 24 | $ 16,595 | $ 14,256 | $ 2,339 | $ 92,373 |
| 25 | $ 16,595 | $ 14,617 | $ 1,979 | $ 77,923 |
| 26 | $ 16,595 | $ 14,986 | $ 1,609 | $ 63,107 |
| 27 | $ 16,595 | $ 15,365 | $ 1,230 | $ 47,916 |
| 28 | $ 16,595 | $ 15,754 | $ 841 | $ 32,341 |
| 29 | $ 16,595 | $ 16,152 | $ 443 | $ 16,373 |
| 30 | $ 16,595 | $ 16,561 | $ 35 | $ 2 |
About our mortgage loan calculator
Our online mortgage calculator is fast and easy to use. All information entered into the calculator stays in your browser, and the tool does not ask for personal details.
Using our mortgage calculator
Fill out the fields above and your personalized results are calculated automatically. The results include an amortization table, a monthly payment estimate, and the total interest paid over the loan term.
How mortgages work
A mortgage is a loan from a bank or financial institution that helps you purchase a home. Mortgages are usually long-term loans paid back over a number of years through monthly payments.
You usually pay more than the amount borrowed. The difference is interest. By taking out a mortgage, you use the home as collateral, which means the lender can take and sell the home if you fail to meet the loan terms.
How to get a mortgage
To get a mortgage, you must complete an application with financial details about your income and purchase. A broker or lender uses that information, along with credit score, credit history, and financial stability, to determine eligibility.
Many lenders require at least two years of steady income. To prove your income, you may need pay stubs, tax returns, or a letter from an employer verifying your income.
How to get a good mortgage rate
Shop around and compare quotes from multiple banks and mortgage lenders. Speaking with several lenders or brokers can give you a clearer view of the current mortgage market and the rates available for your situation.
How to get a mortgage if you have bad credit
If you have bad credit, lenders may look closely at your payment history, late payments, and credit card use. A mortgage broker or loan officer may help you understand which loan options are realistic.
How to get a mortgage if you are a first-time homeowner
First-time homebuyers may need a larger down payment or stronger proof of reliable finances. A pre-approval letter from a bank or mortgage lender can clarify your budget before you shop for a home.