Monthly Mortgage Payment
Estimate your periodic mortgage payment based on your selected loan assumptions.
Mortgage Calculator
Estimate your monthly mortgage payment, total interest, and total repayment based on your home price, down payment, interest rate, and loan term.
Mortgage Details
Enter your home and loan information
$
$
$
Down payment percentage will appear here
%
YEARS
Enter all values to calculate your estimated payment.
Estimated Payment
Monthly mortgage payment
$
$0.00
Loan Amount
$0.00
Total Interest
$0.00
Total Payment
$0.00
Results are estimates based on the information entered. Actual mortgage costs may vary.
FREE ONLINE MORTGAGE CALCULATOR — NO SIGN UP REQUIRED
Mortgage Calculator
Estimate Your Monthly Mortgage Payment
Estimate your monthly mortgage payment based on the home price, down payment, interest rate, and loan term. Understand your potential mortgage costs and compare different home financing scenarios.
Useful for home buyers, homeowners, real estate professionals, investors, and anyone planning a potential mortgage or home purchase.
100% Free
Instant Calculation
Loan Comparison
Browser Based
Quick Tool Overview
The All Free Tool's Mortgage Calculator helps estimate mortgage payments using key loan details such as home price, down payment, interest rate, and loan term.
Enter your expected home price and financing details to estimate the principal and interest portion of your mortgage payment. If supported, you can also account for property taxes, homeowners insurance, or other housing costs.
Use the results to compare different mortgage scenarios and better understand how changes in the down payment, interest rate, or loan term can affect your estimated monthly payment and overall borrowing cost.
About the Mortgage Calculator
What Is a Mortgage?
A mortgage is a loan commonly used to finance the purchase of real estate. The borrower generally repays the loan over an agreed period, with payments typically including principal and interest.
Why Use a Mortgage Calculator?
A mortgage calculator can help you estimate potential monthly payments before comparing actual lender offers. It can also help you explore how different loan amounts, rates, and repayment terms affect the cost of borrowing.
Principal and Interest
The principal is the amount borrowed for the home, while interest is the cost charged by the lender for borrowing that money. Mortgage payments are generally structured to gradually reduce the principal while paying the interest due.
How the Mortgage Calculator Works
Enter the home price, down payment, interest rate, and loan term. The calculator uses these values to estimate the loan amount and periodic mortgage payment based on the selected assumptions.
Down Payment and Loan Amount
A larger down payment generally means borrowing less, which can reduce the loan principal and potentially lower the estimated monthly payment and total interest. Actual lender requirements and costs can vary.
Key Features
Home Price Calculation
Enter the expected purchase price to determine the amount you may need to finance.
Down Payment
Account for your planned down payment when estimating the mortgage principal.
Interest Rate
Enter an expected annual interest rate to see how borrowing costs affect the estimate.
Loan Term
Compare different repayment periods and see how they can change estimated mortgage payments.
Principal & Interest
Understand the estimated principal and interest components of your mortgage payment.
Total Interest Estimate
Estimate the interest cost over the selected mortgage repayment period.
Loan Comparison
Test different mortgage amounts, rates, down payments, and terms to compare scenarios.
Home Buying Planning
Use estimated payments as one input when planning a potential home purchase.
Browser Based
Use the mortgage calculator directly from your browser without installing additional software.
How to Use the Mortgage Calculator
Follow these simple steps to estimate your mortgage payment and compare different home loan scenarios.
Enter the Home Price
Enter the expected purchase price of the home you are considering.
Pro Tip: Use the actual purchase price you are evaluating for a more useful estimate.
Enter the Down Payment
Enter the amount or percentage you expect to pay upfront toward the home purchase.
Pro Tip: Compare different down payment amounts to understand their effect on the loan amount.
Enter the Interest Rate
Enter the annual mortgage interest rate you want to use for the estimate.
Pro Tip: Use a realistic rate based on current quotes or the scenario you are evaluating.
Select the Loan Term
Choose the expected repayment period for the mortgage.
Pro Tip: Compare shorter and longer terms to understand the trade-off between payment size and total interest.
Add Additional Costs
If available, enter property taxes, homeowners insurance, HOA fees, or other applicable costs.
Pro Tip: Including applicable housing costs can provide a more complete estimate of monthly expenses.
Calculate Your Mortgage
Run the calculator to generate your estimated mortgage payment and loan details.
Pro Tip: Double-check your inputs before using the result for comparison or planning.
Review the Monthly Payment
Review the estimated monthly payment and compare it with the housing budget you are considering.
Pro Tip: Consider the complete housing cost, not only principal and interest.
Review Total Interest
Examine the estimated interest cost over the full mortgage term.
Pro Tip: A lower monthly payment does not necessarily mean a lower total borrowing cost.
Compare Mortgage Scenarios
Test different home prices, down payments, interest rates, and loan terms to compare potential outcomes.
Pro Tip: Change one major variable at a time when comparing scenarios to see its effect clearly.
Use the Estimate for Planning
Use the calculated figures as a planning tool when evaluating affordability and potential mortgage options.
Pro Tip: Calculator results are estimates and may differ from actual lender offers, fees, taxes, insurance, and other costs.