Mortgage Calculator

Estimate your monthly mortgage payments and see the impact of different loan terms, interest rates, and down payments.

Home Price ($)

Down Payment ($)

20% of home price

Loan Term (years)

Interest Rate (%)

$1,520.06

Monthly Payment

Loan Amount:

$240,000

Total Interest:

$307,220

Total Payment:

$547,220

This calculator is for educational purposes only. Results are estimates and do not include property taxes, insurance, or other costs that may be included in your monthly mortgage payment.

Mortgage Tips

Aim for 20% Down

A 20% down payment helps you avoid private mortgage insurance (PMI), which can add hundreds to your monthly payment.

Compare Rates

Even a 0.5% difference in interest rates can save you thousands over the life of your loan.

Consider Shorter Terms

Shorter loan terms mean higher monthly payments but significantly less interest paid overall.