Calculate your monthly mortgage payments, loan lifetime, and total interest with ease. Simply input your home price, down payment, interest rate, and other details to receive a comprehensive overview of your mortgage. Whether you're a first-time homebuyer or looking to refinance, our calculator helps you plan your finances with confidence.
| Month | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | 2025-09-25 | 1257.33 | 440.66 | 816.67 | 279559.34 |
| 2 | 2025-10-25 | 1257.33 | 441.94 | 815.38 | 279117.40 |
| 3 | 2025-11-25 | 1257.33 | 443.23 | 814.09 | 278674.17 |
| 4 | 2025-12-25 | 1257.33 | 444.53 | 812.80 | 278229.64 |
| 5 | 2026-01-25 | 1257.33 | 445.82 | 811.50 | 277783.82 |
| 6 | 2026-02-25 | 1257.33 | 447.12 | 810.20 | 277336.70 |
| 7 | 2026-03-25 | 1257.33 | 448.43 | 808.90 | 276888.27 |
| 8 | 2026-04-25 | 1257.33 | 449.73 | 807.59 | 276438.53 |
| 9 | 2026-05-25 | 1257.33 | 451.05 | 806.28 | 275987.49 |
| 10 | 2026-06-25 | 1257.33 | 452.36 | 804.96 | 275535.13 |
Buying a home is one of the most significant financial decisions you’ll make in your life. Yet, the world of mortgages can be confusing and intimidating. Terms like principal, interest, PMI, escrow, amortization, loan term, equity, ARM,and fixed-rate mortgage may leave you puzzled.
Our Core Mortgage Calculator is more than just a calculator — it’s an educational tool that guides you through the mortgage process step by step. Whether you’re buying your first home, refinancing, or planning for future investments, this tool gives you clarity, confidence, and actionable insights.
A mortgage is a loan you take from a bank or lender to buy a home. Since most people cannot pay the full price upfront, the lender provides the bulk of the funds, which you repay over time — usually 15–30 years — with interest.
Example:
Every monthly payment has two parts: Principal (amount borrowed) and Interest (cost of borrowing). Over time, more of your payment goes toward principal and less toward interest — a process called amortization.
A mortgage calculator helps answer the critical question: “Can I afford this home?” It’s not just a math tool — it gives you:
Here’s a breakdown of each input to help you understand its impact:
This is the total price of the property you intend to buy. Entering an accurate home price helps determine your monthly payments and the total interest you’ll pay over the life of the loan. Example: $350,000.
This is the amount you pay upfront. A higher down payment reduces your loan amount, monthly payments, and may even help you avoid PMI (Private Mortgage Insurance).
Example: $70,000 down payment on a $350,000 home leaves a $280,000 loan.
Tip: Many lenders require a minimum of 20% down to avoid PMI, but our calculator lets you explore all options.
The interest rate is what lenders charge you to borrow money. Even small differences in rates can have a huge impact on the total interest paid over the life of the loan.
Example: On a $280,000 loan:
That’s nearly $80 more per month! Our calculator allows you to experiment with different rates to see how they affect your monthly payments and total interest.
Example: $280,000 loan at 3.5% interest:
Our calculator instantly shows how your choice of loan term affects your finances, helping you make informed decisions.
Choose the duration over which you’ll repay the loan. Your choice affects both monthly payments and total interest.
Example: $280,000 loan at 3.5% interest:
Our calculator instantly shows how your choice of loan term affects your finances.
The mortgage start date lets our tool generate a precise amortization schedule, showing when each payment is due. Enter the date your first payment will be made to see accurate projections.
Choose how often you make payments: monthly or bi-weekly. Paying bi-weekly can shorten your loan term and save significant interest.
Example: Bi-weekly payments can reduce a 30-year loan to approximately 25 years while keeping the same interest rate.
Choose the type of mortgage that fits your situation. Options include:
Mortgage payments often include more than just principal and interest. To estimate your real monthly payment, include the following:
Tip: Including these costs ensures your monthly budget is realistic and prevents financial surprises.
One of the most powerful features of our calculator is the ability to schedule extra payments. These payments go directly toward the principal, helping you reduce total interest and build equity faster.
Example: Paying an extra $200/month on a $280,000 loan at 3.5% interest saves approximately $62,000 in interest and shortens your loan term by 8 years.
After entering all inputs, our calculator generates detailed results to help you visualize your mortgage and make informed decisions.
Tip: Use the amortization schedule to plan for life events, such as a career change, renovations, or extra payments. This ensures you stay on track and make the most of your mortgage.
Charts make mortgage data easy to digest and help you understand your payments at a glance.
Visualization Tip: Charts make it easier to explain your finances to family, advisors, or lenders, and spot opportunities to save on interest.
You can download your amortization schedule as a CSV file. This is perfect for:
Our mortgage calculator benefits a wide range of users:
Even if you are unfamiliar with mortgages, our tool educates while calculating, helping you avoid costly mistakes and plan smarter for your future.
Understanding mortgage terms is crucial. Here’s a quick glossary:
Pro Tip: Knowing these terms helps you compare loans confidently and make informed decisions.
You can also explore our other calculators:
With the Core Mortgage Calculator, you don’t need to be a financial expert. Experiment with different scenarios, plan extra payments, and make informed decisions. Buying a home is an investment — start planning smarter today.
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