Mortgage Calculator
Estimate your monthly mortgage payment and understand how loan amount, down payment, interest rate, and term affect total borrowing cost.
$
$
%
Monthly Payment
$2,147
Total Payment
$773,023
Total Interest
$373,023
Loan Amount
$400,000
How to use this calculator
Enter your home price, down payment, interest rate, and loan term. Then compare scenarios by changing one variable at a time to see how much it changes monthly payment and total interest.
Frequently asked questions
How is monthly mortgage payment calculated?
Payments are calculated from principal, interest rate, and loan term, then commonly combined with taxes and insurance for a full monthly estimate.
How much down payment should I use?
A larger down payment usually lowers monthly payments and total interest paid. Compare a few options to find the best balance.
Can I use this calculator for refinance estimates?
Yes. Enter your expected new rate and term to compare current and refinance scenarios quickly.