Simple Mortgage Calculator
Quickly estimate your monthly mortgage payment based on loan amount, interest rate, and loan term.
How mortgage payments are calculated
A standard fixed-rate mortgage uses an amortization formula so that each equal monthly payment covers both interest and a growing share of principal, fully paying off the loan by the end of its term.
What this calculator does
Enter your loan amount, annual interest rate, and loan term in years. The calculator applies the standard amortization formula to estimate your fixed monthly principal-and-interest payment, the total amount you’ll pay over the life of the loan, and the total interest cost.
This is a simplified estimate covering principal and interest only. It does not include property taxes, homeowners insurance, private mortgage insurance, or HOA fees, which are commonly added to a real monthly mortgage payment. For general planning purposes only.