Mortgage Calculator

Calculate your monthly mortgage payment, total interest, and full amortization schedule for any home loan. Free, instant, no signup.

%
years
Formula: PMT = P × r / (1 − (1 + r)^−n)
  • P = loan principal
  • r = monthly interest rate (annual rate ÷ 12)
  • n = total number of payments (years × 12)

How to use the Mortgage Calculator

  1. Enter your values. Fill in the fields with your numbers.
  2. Calculate. Press Calculate to run the mortgage calculator.
  3. Use the result. Copy the result or try a related tool next.

Why use our Mortgage Calculator

Instant results. Enter your figures and the mortgage calculator returns an answer in seconds.
Free & private. Runs in your browser — no signup, and nothing is sent to a server.
Accurate. Uses standard formulas so you can rely on the numbers.

Free to use — premium coming soon

FREE
  • Unlimited calculations
  • Instant results
  • No signup
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  • Save & compare scenarios
  • Export results

About the Mortgage Calculator

The Mortgage Calculator estimates the fixed monthly principal-and-interest payment on a home loan, then projects the total interest you will pay across the full term and how the balance shrinks over time. You enter the loan amount (purchase price minus down payment), the annual interest rate, and the term in years. Because most mortgages are amortizing loans, the payment stays the same every month while the split between interest and principal shifts. This tool is built for buyers comparing offers, homeowners weighing a refinance, or anyone trying to learn how much house a given monthly budget can support.

Reach for this calculator before you make an offer, before you lock a rate, and whenever a lender quotes you a number you want to sanity-check. It is genuinely useful for testing scenarios: bumping the down payment to see how the payment drops, comparing a 15-year term against a 30-year term, or watching how even a half-point change in rate moves your total interest by thousands of dollars. Because it isolates principal and interest, it gives you a clean baseline you can then layer taxes, insurance, and PMI on top of for a fuller picture of your true monthly cost.

Under the hood it uses the standard amortization formula, A = P x i(1+i)^n / ((1+i)^n - 1), where P is the principal, i is the monthly rate (the annual rate divided by 12), and n is the total number of payments (years multiplied by 12). To build the amortization schedule, each month's interest equals the remaining balance times the monthly rate; whatever is left of the fixed payment reduces the principal, and the new balance carries to the next month. Early on, most of your payment is interest because the balance is large, but the principal portion grows steadily until the loan reaches zero.

The figures here are estimates for planning, not a loan offer or an official amortization statement. The calculation covers principal and interest only, so it excludes property taxes, homeowners insurance, private mortgage insurance, and HOA dues that a lender bundles into your real payment. It also assumes a fixed rate and equal monthly payments, so adjustable-rate or interest-only products will differ. Everything runs in your browser: your loan amount, rate, and term are never uploaded, stored, or sent to a server, so you can model sensitive numbers privately.

Frequently asked questions

What does this mortgage calculator include in the monthly payment?

It calculates only principal and interest, the core of an amortizing loan. It does not include property taxes, homeowners insurance, private mortgage insurance (PMI), or HOA fees, so your actual lender payment (often called PITI) will be higher.

How is the monthly mortgage payment calculated?

It uses the standard amortization formula: A = P x i(1+i)^n / ((1+i)^n - 1), where P is the loan principal, i is the annual rate divided by 12, and n is the number of years multiplied by 12. This produces one fixed payment that fully pays off the loan over the term.

Why does so much of my early payment go to interest?

Each month's interest is charged on the remaining balance, which is largest at the start, so most of an early payment covers interest and only a little reduces principal. As the balance falls, the interest portion shrinks and more of every payment goes to principal.

Should I choose a 15-year or 30-year term?

A 15-year term has higher monthly payments but far less total interest because you borrow for half the time. A 30-year term lowers the monthly payment but costs much more interest overall; run both in the calculator to see the trade-off for your numbers.

What is PMI and when does it apply?

Private mortgage insurance is typically required on a conventional loan when your down payment is under 20 percent, and it protects the lender, not you. You can usually request cancellation once the balance reaches 80 percent of the home's value, and lenders must remove it automatically at 78 percent.

From our blog

How to Use Heart Rate Zones to Train Smarter, Not Just Harder

By the Super Simple Digital Tools Team · Updated June 2026

Most people exercise in a frustrating middle gear: too hard to recover properly, too easy to build real fitness. Heart rate zones fix that by giving each workout a clear intensity target. Once the calculator hands you bpm ranges, the job is to match the right range to the right session, then actually hold yourself there instead of drifting up whenever a workout feels easy or down whenever it feels hard.

Start by separating your sessions into easy and hard. Easy or recovery days should sit in the lower band, roughly 50 to 70 percent of your maximum, where you can hold a conversation. This is where aerobic base is built, and most endurance coaches argue the bulk of weekly training should live here. The mistake beginners make is creeping into the moderate-to-hard band on every run, which leaves them tired but not improving. The calculator's lower number is your ceiling for these days, not a goal to beat.

Hard days are where the upper zones earn their place. Intervals, hill efforts, and tempo work push into the 70 to 85 percent vigorous band and, briefly, above it. These sessions raise your maximum oxygen uptake and lactate threshold, the engine upgrades that make easy paces feel easier. Keep them to one or two per week and watch the upper bpm figure so you push genuinely hard rather than settling into a comfortable grind that delivers neither rest nor adaptation.

If you entered a resting heart rate, the Karvonen zones you received are already tuned to your current condition, so revisit them as you get fitter. A lower resting pulse over the weeks is a sign your heart has grown more efficient, and recalculating will shift your targets accordingly. It is worth measuring resting heart rate first thing in the morning across several days and averaging it, since a single rushed reading can skew the whole calculation.

Finally, let your body override the math when it disagrees. Heat, dehydration, caffeine, stress, and poor sleep can all push your heart rate higher than usual at the same effort, a phenomenon called cardiac drift. If the number reads high but the effort feels normal, or you take medication that blunts heart rate, trust perceived exertion and ease off. The zones are a guide to make good decisions, not a rule that outranks how you actually feel.

  • Measure your resting heart rate right after waking, before coffee or activity, and average several days for the most accurate Karvonen zones.
  • Use a chest strap rather than a wrist sensor for interval work, since optical wrist readings often lag and misread during fast bpm changes.
  • If you cannot speak a full sentence, you have left the moderate zone and entered vigorous territory, regardless of what the watch shows.
  • Recalculate every few months or after a fitness jump, because a dropping resting heart rate moves your personalized targets.

Read the full guide →

Tool by the Super Simple Digital Tools Team. Reviewed by our editorial team. Free to use, no signup required.

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