Mortgage Calculator
Estimate your monthly mortgage payment, total interest and loan amount.
Updated June 2026
How to use the Mortgage Calculator
- 1
Enter the home price and down payment
Type the purchase price and how much you are putting down up front.
- 2
Set the rate and term
Enter the annual interest rate and the loan term in years.
- 3
Read your monthly payment
Your monthly payment, total interest and loan amount update instantly above the inputs.
About this tool
A mortgage calculator estimates the monthly payment on a home loan. Enter the home price, your down payment, the annual interest rate and the loan term, and this calculator instantly shows your monthly principal-and-interest payment along with the total interest you will pay and the loan amount you are actually borrowing.
The monthly figure comes from standard amortization: each month you pay interest on the outstanding balance plus a slice of the principal, sized so the same amount comes out every month for the whole term. Early payments are mostly interest and later payments are mostly principal. A higher rate or a longer term raises the total interest you pay, even when a longer term lowers the monthly payment. This calculator covers principal and interest only — property taxes, homeowners insurance and HOA fees are extra.
Use it to size up a home before you make an offer, to compare a 15-year against a 30-year term, or to see how a bigger down payment cuts both the loan amount and the interest. Adjust any input to see the payment change. Everything is calculated in your browser — no loan details are uploaded, logged or stored anywhere.
Examples
Input
$400,000 home, $80,000 down, 6.5%/yr, 30 years
Output
Monthly $2,023 · total interest $408,142 · loan amount $320,000
Over a 30-year term the total interest exceeds the original loan amount.
Input
$300,000 home, $60,000 down, 5%/yr, 15 years
Output
Monthly $1,898 · total interest $101,623 · loan amount $240,000
A shorter 15-year term raises the monthly payment but slashes the total interest.
Input
$250,000 home, $50,000 down, 7%/yr, 30 years
Output
Monthly $1,331 · total interest $279,018 · loan amount $200,000
Common uses
- Estimating the monthly payment on a home before making an offer
- Comparing a 15-year vs 30-year term to weigh the payment against total interest
- Seeing how a bigger down payment lowers both the loan amount and the interest
- Checking what home price fits a target monthly payment in your budget
- Comparing two lender offers with different interest rates on the same home
- Working out the total interest cost over the full life of the loan
Frequently asked questions
Is this mortgage calculator free?+
Yes. It is completely free to use with no sign-up, no limits and no hidden charges.
How is the monthly mortgage payment calculated?+
It uses standard amortization: monthly = L · r · (1+r)^n / ((1+r)^n − 1), where L is the loan amount (home price minus down payment), r is the monthly rate (annual rate ÷ 12 ÷ 100) and n is the number of months. If the rate is 0, the payment is simply the loan amount divided by the number of months.
Does this include taxes and insurance?+
No. This calculator shows principal and interest only. Property taxes, homeowners insurance, PMI and any HOA fees are additional and vary by location and lender.
How does the down payment affect my payment?+
A larger down payment lowers the loan amount you borrow, which directly reduces both your monthly payment and the total interest you pay over the life of the loan.
Is my loan data private?+
Yes. Every calculation runs locally in your browser. Your home price, down payment, rate and term are never sent to a server, logged or stored.
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Free to use on your own site — it stays fast and private for your visitors.
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<iframe src="https://hypercho.com/embed/mortgage-calculator" title="Mortgage Calculator by Hypercho" width="100%" height="560" style="border:1px solid #d8cec3;border-radius:16px;max-width:720px" loading="lazy"></iframe>
<p style="font:13px sans-serif"><a href="https://hypercho.com/tools/mortgage-calculator" target="_blank" rel="noopener">Mortgage Calculator</a> by <a href="https://hypercho.com" target="_blank" rel="noopener">Hypercho</a></p>