Mortgage Calculator
Principal and interest for a fixed-rate mortgage. Tax, insurance, and HOA are not included unless you fold them into the amount yourself.
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How to calculate a mortgage payment
- Enter the amount, annual rate, and term in years.
- Optional: down payment and extra principal per payment.
- Read the contractual payment, totals, and the amortization table.
- Treat the figures as amortization arithmetic, not a lender quote.
Fixed-rate mortgage
Amortizing home loan, principal and interest only
| Payment | P × r(1+r)^n / ((1+r)^n − 1), r = periodic rate |
|---|---|
| Zero rate | Payment is principal / number of payments |
| Total paid | Payment × number of payments |
| Not included | Fees, insurance, tax, or a teaser rate |
Mortgage payment check
Same fixed-rate amortization as the loan calculator, labeled for a home loan. Default term is 30 years with monthly payments. Property tax, homeowners insurance, PMI, and HOA are not included.
What the numbers mean
Monthly payment is the level payment that pays the loan to zero at the last period if the rate never changes and you never pay extra. Total paid is that payment times the number of periods. Total interest is total paid minus principal.
Affordability and refinance
This page does not estimate how much house you can buy, or compare two loans. Those are later calculators. Treat this result as a formula check, not advice. The disclaimer applies.