Mortgage · Free calculator
Mortgage Calculator
Enter your home price, down payment, interest rate, and loan term to see your monthly payment and full amortization schedule.
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0%15%
Loan amount: — · 360 payments
Monthly payment
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principal + interest · taxes & insurance not included
Loan amount
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Total interest
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Total cost
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Cost breakdown —
Principal Interest
Amortization schedule
| Year | Principal | Interest | Balance |
|---|
What's included in this estimate
- Included: principal repayment + interest
- Not included: property taxes, home insurance, HOA fees, PMI
Real monthly costs are typically 20–30% higher once taxes and insurance are added. Budget roughly 1–1.5% of the home value per year for those combined.
How the rate affects total cost
On a 30-year loan, a 1% increase in interest rate raises your monthly payment by roughly 10–12% and adds tens of thousands to total interest. Even a 0.25% reduction from shopping lenders can save thousands over the life of the loan.
A 15-year term roughly doubles the monthly payment compared to 30 years, but typically saves more than half the total interest.