Mortgage Calculator

Estimate your monthly mortgage payment, total interest, and total cost over the life of the loan. Enter the home price, down payment, interest rate, and term to see a full breakdown.

Home Price ($)

Down Payment ($)

Interest Rate (% APR)

Loan Term (years)

Monthly Tax + Insurance ($), optional

$2,069.79

Estimated Monthly Payment (P&I + Tax/Insurance)

Principal & interest: $1,769.79

$280,000.00

Loan Amount

$357,124.57

Total Interest

$637,124.57

Total Paid (P&I)

Payments by loan amount

Pre-computed monthly payments for common mortgage amounts, across a range of rates at 15 and 30 year terms.

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<iframe src="https://www.thetoolskit.co/embed/mortgage-calculator" width="100%" height="640" style="border:1px solid #ddd;border-radius:12px;" title="Mortgage Calculator" loading="lazy"></iframe>
<p style="font-size:13px">Calculator by <a href="https://www.thetoolskit.co/mortgage-calculator">The Tools Kit</a></p>

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Why use Mortgage Calculator?

This calculator estimates a fixed-rate mortgage payment using the standard amortization formula, applied to the loan amount (home price minus down payment), the interest rate you enter, and a term of 15, 20, or 30 years. It separates the principal and interest portion from an optional monthly tax and insurance estimate, since those vary by location and aren't part of the loan itself, then adds them together for a full monthly total. Alongside the loan amount, it also shows total interest paid and total principal and interest paid over the life of the loan, so you can compare terms or down payment amounts side by side. For quick reference without entering numbers, the page also links to ten pre-computed "$X mortgage" pages covering common loan amounts from $150,000 to $750,000, each showing payments across a range of rates.

Key benefits

Standard fixed-rate amortization math
Separates principal and interest from tax/insurance estimate
Shows total interest paid over the full loan term
Recalculates instantly as you change any input, no page reload
Includes preset pages for common loan amounts from $150,000 to $750,000 for quick reference

Features

15/20/30-year term options
Down payment and loan amount breakdown
Optional monthly tax/insurance addition
Separate totals for interest paid and principal and interest paid over the loan
Ten pre-computed "$X mortgage" pages covering common loan amounts

Popular use cases

Estimating affordability before house-hunting
Comparing monthly payments across different down payment amounts
Understanding total interest cost over a 30-year vs. 15-year term
Checking the payment on a specific loan amount via the preset amount pages

How to use Mortgage Calculator

1
Enter the home price and down payment
Enter the purchase price and how much you'll put down.
2
Enter the rate and term
Enter the interest rate and pick a loan term of 15, 20, or 30 years.
3
Add tax and insurance (optional)
Include a monthly estimate for property tax and homeowners insurance for a fuller monthly total.
4
Review the breakdown
See the estimated monthly payment, loan amount, total interest, and total paid, updated instantly.

Frequently asked questions

Does this include property tax and PMI?

You can add an estimated monthly tax and insurance amount manually; PMI (private mortgage insurance, often required with less than 20% down) is not automatically calculated and should be added to that field if applicable.

How is the monthly payment calculated?

Using the standard fixed-rate amortization formula, based on the loan amount (home price minus down payment), interest rate, and term.

Is this a loan offer or pre-approval?

No. This is an estimate for planning purposes only. Actual rates and terms depend on your lender and credit profile.

What loan amounts have preset pages?

There are pre-computed pages for common loan amounts from $150,000 up to $750,000, listed at the bottom of the calculator, each prefilled with that loan amount.

What loan terms can I choose?

15, 20, or 30 years, picked from a dropdown; the calculator recomputes principal and interest instantly for whichever term you choose.

Last reviewed: July 2026

Payments by loan amount

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