Calculate your monthly mortgage payments, total interest, and view complete amortization schedule. Plan your home purchase with confidence.
Mortgage payments are calculated using the loan amount, interest rate, and term. The formula ensures equal monthly payments throughout the loan term.
Early payments are mostly interest, while later payments go more toward principal. This is shown in your amortization schedule.
A larger down payment reduces your loan amount, monthly payments, and may eliminate PMI requirements.
Even small differences in interest rates can save you thousands over the life of your loan.
15-year loans have higher monthly payments but much less total interest. 30-year loans offer lower monthly payments.
Use this calculator to compare different scenarios and make informed decisions about your home purchase.