home Mortgage Calculator
Calculate monthly payments, total interest and view an amortization schedule.
| # | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $1,517 | $217 | $1,300 | $239,783 |
| 2 | $1,517 | $218 | $1,299 | $239,565 |
| 3 | $1,517 | $219 | $1,298 | $239,346 |
| 4 | $1,517 | $221 | $1,296 | $239,125 |
| 5 | $1,517 | $222 | $1,295 | $238,903 |
| 6 | $1,517 | $223 | $1,294 | $238,680 |
| 7 | $1,517 | $224 | $1,293 | $238,456 |
| 8 | $1,517 | $225 | $1,292 | $238,231 |
| 9 | $1,517 | $227 | $1,290 | $238,004 |
| 10 | $1,517 | $228 | $1,289 | $237,777 |
| 11 | $1,517 | $229 | $1,288 | $237,548 |
| 12 | $1,517 | $230 | $1,287 | $237,317 |
This calculator works out your monthly mortgage payment, total interest paid over the life of the loan, and a full amortization breakdown - based on the loan amount, interest rate, and term. Useful for comparing different mortgage scenarios before committing to a home loan.
Frequently asked questions
A breakdown showing how each monthly payment splits between principal and interest over the life of the loan - early payments are mostly interest, while later payments are mostly principal, even though the total payment stays the same.
This calculates the core principal-and-interest payment based on loan amount, rate, and term - real-world mortgage payments often also include property taxes, insurance, and HOA fees, which aren't part of this base calculation unless you factor them in separately.
Yes - run the calculation multiple times with different rates or terms (like 15-year vs 30-year) to compare how much each option would cost you overall.