Mortgage Calculator

Yes. It is completely free to use, with no signup, no account, and no paywall.

The calculator uses the standard formulas for this kind of math, but real-world results can differ once fees, rounding, rate changes, and provider-specific rules come into play. Treat the output as a planning estimate, not a quote.

Yes. The numbers you enter are processed entirely in your browser and never leave your device.

Budget 20 to 30 percent above the principal-and-interest figure. On a 1610.46 payment, property tax and insurance commonly add 300 to 500 a month, and PMI adds more if you put down less than 20 percent. The exact numbers depend entirely on your county and insurer.

Because 30 years is a long time to pay 5% on a slowly declining balance. On the defaults you repay 300000 of principal and 279767.35 of interest. Shortening the term to 15 years at the same rate cuts total interest to roughly 127000, at the cost of a much larger monthly payment.

The loan amount, which is the price minus your down payment. Entering the purchase price overstates the payment by whatever you were planning to put down.

Enter the note rate to get the payment your servicer will bill you. Enter the APR if you are comparing two lenders whose fee structures differ, since APR folds points and origination costs into one comparable number. The payment shown always follows whatever rate you typed.

The tool does not model it. As a rough guide, one extra monthly payment a year on a 30-year loan typically cuts four to five years off the term and tens of thousands off the interest, because every extra dollar goes straight against principal.

1610.46 over 30 years, principal and interest only. Total paid comes to 579767.35 and total interest to 279767.35. The same loan over 15 years costs 2372.38 a month but only 127028.56 in interest.

On 300000 over 30 years, the payment goes from 1610.46 at 5 percent to 1798.65 at 6 percent. That is 188.19 a month and 67747.22 more interest over the term, which is why an eighth or a quarter of a point is worth negotiating.

No. It is an estimate produced by the standard amortization formula. A real quote reflects your credit profile, points, origination and title fees, escrow requirements, and the exact day the loan funds. Use this number to plan and compare, then get a Loan Estimate from the lender for anything binding.

PITI is principal, interest, taxes, and insurance, the four parts of a typical escrowed mortgage bill. This tool covers the P and the I. The T and the second I depend on your county assessor and your insurer, so you have to add them yourself.

Yes. The arithmetic is identical: enter the balance being refinanced, the new rate, and the remaining term. If you want the two payments side by side rather than one at a time, the Refinance Calculator takes a balance, a current rate, and a new rate and reports the monthly difference.

Start from income rather than price. The House Affordability Calculator applies a 28 percent housing rule to gross monthly income and works backwards to a loan amount, which you can then bring here with a real rate and term.

The calculator is currency-neutral on purpose, so the same page serves a mortgage in dollars, euros, or pounds. Amounts are formatted with two decimals and thousands separators, and the unit is left to you.

No. The whole calculation is one formula evaluated in your browser tab. No figure you type is transmitted, logged, or stored, and the page keeps working offline.