Mortgage Calculator
Free mortgage calculator online. Monthly payment from home price, down payment, rate, and term.
How monthly mortgage payment is calculated
This free mortgage calculator online shows the monthly home loan payment from home price, down payment, annual interest, and loan term. The loan amount is price minus down payment. The payment uses the standard amortizing formula also used by a mortgage payment calculator at a bank.
You also see total payable and total interest over the full term. A 30-year mortgage keeps the monthly payment lower and the interest higher. A 15-year term does the opposite.
This house payment calculator does not include property tax, homeowners insurance, or PMI. Use it to compare offers, then confirm the figure with your lender. For India-style reducing-balance loans without a down-payment field, use the EMI calculator.
mortgage calculator FAQ
Enter home price, down payment, annual interest percent, and loan term in years. Monthly payment, total payable, and total interest update on the right.
Yes. The mortgage payment calculator is free and does not require an account.
No. This page estimates principal and interest only. Add tax, insurance, and PMI from your lender quote.
Monthly payment = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan after down payment, r is the monthly rate, and n is the number of months.