🏡 Mortgage Calculator
Enter your home price and down payment (or a loan amount directly), interest rate, and term to see your monthly payment and full year-by-year amortization schedule - free and unlimited, no sign-in required.
Mortgage details
Enter a home price + down payment, OR a loan amount directly - whichever you have. Property tax, insurance, PMI and HOA dues are not included; this is principal + interest only.
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Summary
Year-by-year amortization
| Year | Principal paid | Interest paid | Remaining balance |
|---|
Where the payment comes from
The financed amount is home price minus down payment, unless you type a loan amount directly; that box wins, and the other two are only echoed back. The level payment comes from the standard fixed-rate formula, then the loan is simulated month by month and the months are summed into the year rows.
i = (rate / 100) / 12 n = years × 12
payment = principal × i / (1 - (1 + i)^-n)
each month: interest = balance × i
principal = payment - interest + extra$350,000 with $70,000 down is a $280,000 loan. At 6.5% over 30 years that is $1,769.79 a month. Month one is $1,516.67 interest against $253.12 of principal; the whole first year clears only $3,129.60 of the balance while paying $18,107.88 in interest. Run to term the interest totals $357,125.12.
The extra payment box
Whatever you enter is added to the principal every month, and the panel compares the run against the same loan without it. On the mortgage above, $200 a month pays it off in 273 months instead of 360 — seven years and three months early, $101,283.54 of interest avoided.
- Term takes 1 to 50 years, rate 0 to 100%. A down payment equal to or above the price is rejected.
- The last scheduled month clears the balance exactly, so it usually differs from the others by a few cents.
Frequently asked questions
What is the payment on a $280,000 mortgage at 6.5%?
$1,769.79 a month over 30 years, principal and interest only. Over the full term you repay $637,125.12 on $280,000 borrowed.
How much does $200 extra a month save on a 30-year mortgage?
On that loan, $101,283.54 in interest and 87 months. Early extra payments are worth far more than late ones, because they cut the balance the interest is charged on.
Does this include property tax and insurance?
No. It is the principal-and-interest figure lenders quote. Add your own escrow estimate before comparing it to what a monthly statement will actually say.