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Mortgage Calculator

Calculate your monthly mortgage payments, interest, and amortization schedule

Monthly Payment
Breakdown of your monthly mortgage payment
$1,566

Total monthly payment

Principal & Interest:$1,216
Property Tax:$250
Home Insurance:$100
Loan Amount:$240,000
Total Interest:$197,776
Payment Breakdown
How your payment is distributed
P&I
Tax
Ins

Amortization Over Time

1
$236,128
6
$213,932
11
$186,148
16
$151,367
21
$107,828
26
$53,327
30
$0
Principal & Interest
Property Tax
Insurance
$300,000
$60,000
20%
4.5%

Current Mortgage Rates

Average mortgage rates as of 4/3/2025:

30-Year Fixed
6.25%
15-Year Fixed
5.50%
5/1 ARM
5.75%
7/1 ARM
5.88%
Check current rates

About This Calculator

A mortgage is likely to be the largest financial commitment you'll make. Our Mortgage Calculator helps you understand the full cost of homeownership and explore different scenarios:

  • Loan Details: Principal amount, interest rate, and loan term.
  • Additional Costs: Property taxes, home insurance, PMI, and HOA fees.
  • Payment Breakdown: Principal, interest, and other costs over the life of the loan.
  • Amortization Schedule: How your payments reduce your loan balance over time.
  • Extra Payments: Impact of making additional payments on your loan term and total interest.

By providing a detailed analysis of your mortgage costs, our calculator helps you make informed decisions about home financing, refinancing options, and strategies for paying off your mortgage faster.

How to Use This Calculator

Enter your loan details, including home price, down payment, interest rate, and loan term. Add additional costs like property taxes and insurance if desired. The calculator will show your monthly payment breakdown and long-term financial impact.