Mortgage Calculator
Calculate monthly mortgage payments, estimate home loan costs, and determine affordability with our free mortgage calculator.
Our comprehensive Mortgage Calculator helps you estimate monthly payments, understand interest costs, and determine how much home you can afford. Whether you're a first-time homebuyer or looking to refinance, this tool provides accurate calculations to help you make informed decisions about your mortgage financing options.
Enter mortgage details to see your payment breakdown
This mortgage calculator helps you understand your monthly payments, total interest costs, and payment schedule for fixed-rate mortgages. The amortization schedule shows exactly how each payment reduces your loan balance over time.
Formula: Payment = P × r × (1 + r)^n / ((1 + r)^n - 1)
Where:
- P = Principal loan amount (Home Price - Down Payment)
- r = Periodic interest rate
- n = Total number of payments
Note: This calculator provides estimates for fixed-rate mortgages. Actual mortgage terms may vary based on credit score, lender requirements, property type, and other factors. Always consult with a mortgage advisor for personalized advice.