Finance
Loan payment
Estimate monthly payments and total interest.
Calculators / Finance / Mortgage
Mortgage calculator
Estimate principal and interest on your home loan.
On this page
Monthly principal & interest1,636.85
Loan principal280,000
Total interest211,055.63
Calculator controls
How to calculate
Estimate principal and interest on your home loan.
Loan = price − down payment; payment uses a fixed monthly amortization formula
Worked example
Home price: 350000; Down payment: 70000; Annual interest rate (%): 5; Term (years): 25.
Monthly principal & interest: 1,636.85 ; Loan principal: 280,000 ; Total interest: 211,055.63 .
Assumptions and limits
Excludes property taxes, insurance, fees, and association charges. Uses nominal annual interest divided by 12.
Results are rounded for display; calculations use unrounded values. Read our calculation methodology.
Understanding the result
The headline payment covers principal and interest on the home price minus your down payment. It is only part of the full monthly housing budget.
When this tool is useful
Compare a larger down payment or a shorter term before requesting a lender’s quote.
Sources
Understanding your inputs
| Input | What to enter |
|---|---|
| Home price | Enter a number of at least 1 and no more than 10000000000. |
| Down payment | Enter a number of at least 0 and no more than 10000000000. |
| Annual interest rate (%) | Enter a number of at least 0 and no more than 100. |
| Term (years) | Enter a number of at least 1 and no more than 100. |
Frequently asked questions
Are taxes and insurance included?
No. Property taxes, insurance, mortgage insurance, association charges, and other fees must be budgeted separately.
Will the payment change later?
This estimate assumes a fixed interest rate for the entire term. Adjustable rates and changes in escrow costs can change actual payments.