Mortgage Calculator
See what a home will actually cost you each month before you make an offer.
Monthly payment
1516.96
Total paid
546106.77
Total interest
306106.77
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How It Works
Enter the home price, down payment, annual interest rate, and term in years to see the monthly payment.
M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the loan amount after down payment
Example
A $300,000 home with a $60,000 down payment at 6.5% over 30 years costs about $1,517/month.
Frequently Asked Questions
- Does this include property tax or insurance?
- No — this estimates principal and interest only. Property tax, homeowners insurance, and PMI are not included.
- How does the down payment affect my payment?
- A larger down payment reduces the loan principal, which lowers both your monthly payment and total interest paid.
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