Mortgage Calculator
Calculate your monthly mortgage payment with our free mortgage calculator. Get accurate estimates for home loans, including principal, interest, taxes, and insurance (PITI). Perfect for first-time homebuyers and refinancing.
Mortgage Details
Enter your home price, down payment, interest rate, and loan term to calculate your monthly mortgage payment.
Mortgage Payment Summary
Payment Breakdown
Payment Schedule
| Year | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $25,547.62 | $3,250.59 | $22,297.02 | $316,749.41 |
| 2 | $25,547.62 | $3,485.58 | $22,062.04 | $313,263.83 |
| 3 | $25,547.62 | $3,737.55 | $21,810.07 | $309,526.28 |
| 4 | $25,547.62 | $4,007.74 | $21,539.88 | $305,518.54 |
| 5 | $25,547.62 | $4,297.46 | $21,250.16 | $301,221.09 |
| 6 | $25,547.62 | $4,608.12 | $20,939.50 | $296,612.97 |
| 7 | $25,547.62 | $4,941.24 | $20,606.37 | $291,671.73 |
| 8 | $25,547.62 | $5,298.44 | $20,249.17 | $286,373.28 |
| 9 | $25,547.62 | $5,681.47 | $19,866.15 | $280,691.81 |
| 10 | $25,547.62 | $6,092.18 | $19,455.43 | $274,599.63 |
| 11 | $25,547.62 | $6,532.59 | $19,015.03 | $268,067.04 |
| 12 | $25,547.62 | $7,004.83 | $18,542.79 | $261,062.21 |
| 13 | $25,547.62 | $7,511.21 | $18,036.41 | $253,551.00 |
| 14 | $25,547.62 | $8,054.20 | $17,493.42 | $245,496.81 |
| 15 | $25,547.62 | $8,636.43 | $16,911.18 | $236,860.37 |
| 16 | $25,547.62 | $9,260.76 | $16,286.85 | $227,599.61 |
| 17 | $25,547.62 | $9,930.22 | $15,617.39 | $217,669.39 |
| 18 | $25,547.62 | $10,648.08 | $14,899.54 | $207,021.31 |
| 19 | $25,547.62 | $11,417.83 | $14,129.79 | $195,603.48 |
| 20 | $25,547.62 | $12,243.23 | $13,304.39 | $183,360.25 |
| 21 | $25,547.62 | $13,128.29 | $12,419.33 | $170,231.96 |
| 22 | $25,547.62 | $14,077.34 | $11,470.28 | $156,154.63 |
| 23 | $25,547.62 | $15,094.99 | $10,452.63 | $141,059.64 |
| 24 | $25,547.62 | $16,186.20 | $9,361.41 | $124,873.43 |
| 25 | $25,547.62 | $17,356.31 | $8,191.31 | $107,517.13 |
| 26 | $25,547.62 | $18,611.00 | $6,936.62 | $88,906.13 |
| 27 | $25,547.62 | $19,956.39 | $5,591.23 | $68,949.75 |
| 28 | $25,547.62 | $21,399.03 | $4,148.58 | $47,550.71 |
| 29 | $25,547.62 | $22,945.97 | $2,601.64 | $24,604.74 |
| 30 | $25,547.62 | $24,604.74 | $942.88 | $0.00 |
How to Use Our Mortgage Calculator
📊 Calculate Your Payment
Enter your home price, down payment, interest rate, and loan term to get an accurate estimate of your monthly mortgage payment. Our calculator includes principal and interest calculations.
- Adjust home price from $50K to $2M
- Set down payment from 3% to 50%
- Interest rates from 1% to 15%
- Loan terms from 5 to 40 years
🏠 Understanding Mortgages
A mortgage is a loan used to purchase real estate. The property serves as collateral for the loan. Most mortgages require a down payment and are repaid over 15-30 years.
- Fixed-rate vs. adjustable-rate mortgages
- FHA, VA, and conventional loans
- Private mortgage insurance (PMI)
- Property taxes and homeowners insurance
💡 Mortgage Tips for Homebuyers
- Shop around: Compare rates from multiple lenders to find the best deal
- Improve your credit: Higher credit scores typically qualify for better interest rates
- Save for down payment: 20% down payment helps avoid PMI and reduces monthly payments
- Consider total costs: Factor in property taxes, insurance, and maintenance costs
- Get pre-approved: Pre-approval shows sellers you're a serious buyer
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