Mortgage Calculator

Mortgage calculator for home loan estimates

A mortgage calculator helps you estimate the cost of buying a home before you apply for a loan. Home price, down payment, mortgage rate, payment schedule, and amortization period all affect how much you borrow and how much interest you may pay over time.

How this mortgage payment calculator works

Enter a home price and the percentage you plan to put down. The calculator converts that percentage into a dollar amount, subtracts it from the home price, and estimates the mortgage amount. It then applies a standard amortized loan formula using your interest rate, payment schedule, and amortization period to estimate total interest.

Why calculate your mortgage before house shopping?

Running a mortgage estimate before you view homes can help you set a realistic price range, compare lender offers, and understand how a larger down payment may reduce your monthly mortgage payment. It also shows how interest rates affect total interest paid over the life of the home loan.

Choose a mortgage payment schedule

Monthly mortgage payments are common, but some buyers prefer bi-weekly or weekly estimates because they match their pay schedule. Switching payment frequency uses that schedule when calculating your long-term interest estimate and helps you plan your household budget.

A quick mortgage estimate, without extra fields

This quick mortgage calculator focuses on your home price, down payment percentage, interest rate, payment schedule, and amortization period. Property taxes, homeowner insurance, HOA or condo fees, maintenance, closing costs, and lender charges are not included. Keep those separate when you build your full home-buying budget.

Estimate only

This free mortgage calculator is for planning and education. Actual mortgage approval, lender fees, closing costs, taxes, insurance premiums, mortgage insurance, escrow rules, and interest rates can vary by lender, location, loan type, and credit profile.