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Mortgage Calculator

Calculate monthly mortgage payments with amortization schedule

Mortgage Calculator
Calculate monthly mortgage payments with amortization schedule
Monthly Payment
$1,896.20
Monthly Payment
Total Payment$682,633.47
Total Interest$382,633.47
Amortization Schedule

How to Use

1

Enter Your Values

Fill in the input fields with your numbers or parameters.

2

Get Instant Results

Results update automatically as you type — no submit button needed.

3

Copy or Save

Copy results to clipboard or use them in your workflow.

Why Use This Tool

100% Free

No hidden costs, no premium tiers — every feature is free.

No Installation

Runs entirely in your browser. No software to download or install.

Private & Secure

Your data never leaves your device. Nothing is uploaded to any server.

Works on Mobile

Fully responsive — use on your phone, tablet, or desktop.

Financial Education

A mortgage is one of the largest financial commitments most people make. Understanding how mortgage payments work helps you choose the right loan and save thousands over its lifetime.

Key Concepts

1

Amortization

Early payments go mostly toward interest, with the principal portion growing over time. Understanding this schedule helps you see the true cost of your loan.

2

Down Payment

A larger down payment reduces your loan amount, lowers monthly payments, and may help you avoid private mortgage insurance (PMI), typically required when paying less than 20% down.

3

Fixed vs. Variable Rate

Fixed-rate mortgages lock in your interest rate for the full term, offering predictability. Variable-rate mortgages may start lower but can fluctuate with the market.

4

Loan Term

Shorter terms (e.g. 15 years) have higher monthly payments but cost significantly less in total interest compared to longer terms (e.g. 30 years).

Practical Tips

Keep your total housing costs (mortgage, taxes, insurance) below 28% of your gross monthly income.

Compare offers from multiple lenders — even a 0.25% rate difference can save tens of thousands over the life of the loan.

Consider making extra payments toward principal when possible to shorten your loan term and reduce total interest.

Factor in closing costs, property taxes, insurance, and maintenance when budgeting for a home — the mortgage payment is only part of the total cost.

This content is for educational purposes only and does not constitute financial advice. Consult a qualified financial advisor or mortgage professional before making borrowing decisions.

Frequently Asked Questions