Estimate your monthly mortgage payment and see how much goes toward interest over the life of a loan.
SET UP FOR YOUR COUNTRY Editable estimate
Mortgage calculator for United States
USD · 12,345.67US customary measurementsRoad distance: miles
United States planning scenario. Amounts, prices and rates are editable examples. No verified local tax bands, exemptions, benefits or lender rules are applied. Currency amounts are not exchanged.
Switch countries to open a separate scenario. Your edits are kept while this calculator is open; use Save scenario to keep them on this device.
Your details
USD
Example only. Enter the amount or rate applicable to your situation in United States.
USD
Example only. Enter the amount or rate applicable to your situation in United States.
%
Example only. Enter the amount or rate applicable to your situation in United States.
Enter years. Monthly loans and savings require a whole number of months; 0.5 years is 6 months.
USD
Optional costs are shown separately from the loan payment. Example only. Enter the amount or rate applicable to your situation in United States.
Monthly housing payment
$1,769.79
Amounts in USD · United States · editable planning estimate
Principal & interest$1,769.79
Loan amount$280,000.00
Total interest$357,124.57
Total loan payments$637,124.57
Your calculation, beautifully packaged.Download a report with this result, your inputs, the formula, and assumptions.
Country setup: United States. Displayed measurements are converted to the formula's base units internally.
Assumption: Generic monthly compounding and monthly payments. Lender conventions, taxes, insurance and local fees can differ. United States planning scenario. Amounts, prices and rates are editable examples. No verified local tax bands, exemptions, benefits or lender rules are applied. Currency amounts are not exchanged.
Calculation version 1.0.0 · Support state: generic
Monthly payment = principal × monthly rate ÷ (1 − (1 + monthly rate)⁻ⁿ), where n is the number of monthly payments. At 0% interest, payment = principal ÷ n.
This calculation uses the values you enter. It runs in your browser and does not request a location or account.
Worked example
For a 350,000 home with 70,000 down, a 6.5% rate and a 30-year term, the financed principal is 280,000. The loan payment is about 1,770 per month before taxes or insurance.
Questions people ask
Does this include property tax and insurance?
Only if you enter them in the optional monthly costs field. They are added to the housing total, not to principal and interest.
What happens if the rate is zero?
The principal is divided evenly across the payment periods.