Mortgage Payment Calculator
Estimate the monthly principal-and-interest payment on a fixed-rate mortgage, plus the total interest you will pay.
What goes into a mortgage payment
A fixed-rate mortgage uses an amortized payment so that every month is identical, gradually shifting from mostly-interest to mostly-principal. This tool computes the principal and interest portion with M = P·r(1+r)ⁿ / ((1+r)ⁿ−1).
Beyond principal and interest
Your real monthly bill often also includes property taxes, homeowners insurance, and sometimes PMI or HOA fees. Add those separately when budgeting. Even so, principal and interest is usually the largest piece and the one most affected by rate and term.
Shorter term or bigger down payment?
A shorter term raises the monthly payment but slashes total interest. A larger down payment lowers both. Try a few scenarios above to see the trade-offs instantly.