Mortgage Calculator
Estimate your monthly mortgage payments and plan your home purchase with confidence.
Calculate Your Payment
Adjust the values below to estimate your monthly payment
Additional Monthly Costs (Optional)
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Amortization Schedule
See how each year of payments splits between principal and interest, and how your loan balance falls over time. Early payments go mostly toward interest; the balance shifts toward principal as the loan matures.
| Year | Principal | Interest | Remaining balance |
|---|---|---|---|
| $3,130 | $18,108 | $276,870 | |
| $3,339 | $17,898 | $273,531 | |
| $3,563 | $17,675 | $269,968 | |
| $3,801 | $17,436 | $266,167 | |
| $4,056 | $17,181 | $262,111 | |
| $4,328 | $16,910 | $257,783 | |
| $4,618 | $16,620 | $253,165 | |
| $4,927 | $16,311 | $248,239 | |
| $5,257 | $15,981 | $242,982 | |
| $5,609 | $15,629 | $237,373 | |
| $5,984 | $15,253 | $231,389 | |
| $6,385 | $14,852 | $225,004 | |
| $6,813 | $14,425 | $218,191 | |
| $7,269 | $13,968 | $210,922 | |
| $7,756 | $13,482 | $203,166 | |
| $8,275 | $12,962 | $194,890 | |
| $8,830 | $12,408 | $186,061 | |
| $9,421 | $11,817 | $176,640 | |
| $10,052 | $11,186 | $166,588 | |
| $10,725 | $10,512 | $155,863 | |
| $11,443 | $9,794 | $144,419 | |
| $12,210 | $9,028 | $132,210 | |
| $13,027 | $8,210 | $119,182 | |
| $13,900 | $7,338 | $105,282 | |
| $14,831 | $6,407 | $90,452 | |
| $15,824 | $5,413 | $74,628 | |
| $16,884 | $4,354 | $57,744 | |
| $18,015 | $3,223 | $39,729 | |
| $19,221 | $2,016 | $20,508 | |
| $20,508 | $729 | $0 | |
| Totals | $280,000 | $357,125 | — |
Based on a 30-year fixed loan of $280,000 at 6.5% interest. Principal and interest only — taxes, insurance, PMI, and HOA are not included.
Understanding Your Mortgage
Down Payment
A larger down payment means lower monthly payments and potentially avoiding PMI. Aim for 20% if possible, but many loans allow as little as 3-5% down.
Interest Rate
Even a small difference in interest rate can save you thousands over the life of your loan. Shop around and compare offers from multiple lenders.
Loan Term
A 15-year loan has higher monthly payments but saves significantly on interest. A 30-year loan offers lower payments but costs more over time.
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Mortgage Calculator FAQ
Disclaimer: This calculator provides estimates for informational purposes only. Actual loan terms, rates, and monthly payments may vary based on your credit score, lender requirements, and other factors. For accurate pre-approval and loan terms, please contact a qualified mortgage professional.
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