Enter your loan amount, rate and term.
Buying a home is one of the biggest financial decisions most people make, and the monthly payment is the number that matters most. This free mortgage calculator turns your loan amount, interest rate and term into a clear monthly payment, then shows you exactly how much of it goes to interest over the life of the loan.
Unlike a rough rule of thumb, it uses the standard amortization formula, so the result matches what a lender would quote for principal and interest. Add an optional extra monthly payment and you will instantly see how many months it shaves off the loan and how much interest it saves.
Enter the loan amount, the annual interest rate and the term in years. Optionally add an extra payment, then tap Calculate. The tool shows your monthly payment, total interest, total paid and a year-by-year table showing the remaining balance at the end of each year.
All calculations happen in your browser. Nothing you enter is stored or sent to a server.
Free mortgage calculator that shows your monthly payment, total interest and a year-by-year amortization schedule. Add an extra payment to see how much faster you pay it off.