Skip to content
QuickToolio
esEspanolenEnglishptPortuguêsfrFrançaisdeDeutschitItaliano

Mortgage calculator online

Calculate a mortgage's monthly payment from the home price, down payment, interest rate and term.

Processed on your device. Nothing is sent to any server.

Monthly payment

1001.25

Loan amount: 200000

Total paid: 300374.14

Total interest: 100374.14

This calculator is for informational purposes only and does not constitute financial advice or an actual mortgage offer; final terms are set by each lender.

Calculate a mortgage's monthly payment from the home price, down payment, annual interest rate and term, with the financed amount, total paid and total interest shown separately.

Subtracts the down payment from the home price to get the amount actually financed, then applies the standard fixed-rate amortization formula used by most mortgages to that amount: every monthly payment stays the same for the whole term, blending a principal portion and an interest portion that shifts month to month.

Use cases

  • Comparing the monthly payment of several mortgage offers before choosing a lender.
  • Working out how much home you can afford for a target monthly payment.
  • Seeing how a bigger down payment changes the payment and total interest.

How it works

  1. 1

    Enter the home price and down payment

    Type the price of the home and the down payment you plan to put in.

  2. 2

    Add the interest rate and term

    Enter the annual interest rate and the number of years of the loan.

  3. 3

    Check the payment and the breakdown

    The calculator shows the monthly payment along with the financed amount, total paid and total interest.

Technical details

Uses the standard amortization formula M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the financed principal (home price minus down payment), r is the monthly interest rate (annual rate ÷ 12 ÷ 100) and n is the number of monthly payments (years × 12).

Frequently asked questions

Does the payment include taxes, insurance or HOA fees?

No, the calculator only covers principal and interest. The real monthly cost of owning a home usually also includes homeowners insurance, property tax, mortgage insurance and HOA fees, which aren't calculated here.

How does a bigger down payment affect the payment?

A bigger down payment directly reduces the financed amount, which lowers both the monthly payment and the total interest paid over the life of the loan.

Related tools

← Calculators