Mortgage Calculator

Calculate your monthly mortgage payments and view detailed amortization schedules with our free online calculator.

Suggested range: $50,000 - $10,000,000

20.0% of home price$60,000

Typically 0.5% - 2.5% of home value

Understanding Mortgage Calculations

Principal Amount

The initial loan amount you borrow, which is typically the home price minus your down payment.

Interest Rate Impact

Even small changes in interest rates can significantly affect your monthly payments and total cost.

Loan Term Effects

Longer terms mean lower monthly payments but more total interest paid over the life of the loan.

Payment Components

Understanding PITI: Principal, Interest, Taxes, and Insurance that make up your monthly payment.

Key Mortgage Insights

  • 20% down payment avoids PMI requirements
  • Interest rates vary based on credit score
  • Fixed rates provide payment stability
  • Extra payments reduce total interest

Benefits of Using a Mortgage Calculator

Budget Planning

Plan your monthly budget accurately with detailed payment breakdowns

Compare Options

Evaluate different loan terms and down payment scenarios

Cost Analysis

Understand the total cost of homeownership including taxes and insurance

Time Savings

Quick calculations without manual math or spreadsheets

Better Decisions

Make informed choices about home affordability

Loan Comparison

Compare different lenders and loan types easily

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Helpful Resources & Guides