Mortgage Calculator
Work out what a home loan really costs each month. Enter the property price, your down payment, the interest rate and the term — add monthly taxes and insurance for the full picture.
Your result will appear here
Your monthly mortgage payment
Principal & interest use the standard reducing-balance formula. Figures are indicative — your lender's schedule, fees and escrow may differ.
How to use
- Enter the home price and the down payment you plan to make.
- Add the annual interest rate and the loan term in years, plus monthly tax and insurance if you know them.
- Click Calculate Mortgage and compare the monthly payment and total interest for different terms.
Frequently asked questions
What is included in a monthly mortgage payment?
The payment is usually made of principal and interest, plus property tax and home insurance if your lender collects them in escrow. This calculator shows the principal-and-interest part separately so you can see both.
How does the down payment affect my mortgage?
A bigger down payment means a smaller loan, so your monthly payment and total interest both fall. In many countries a down payment of 20% or more can also remove the need for mortgage insurance.
Should I choose a 15-year or 30-year mortgage?
A 15-year term has a higher monthly payment but far less total interest, and you own the home sooner. A 30-year term is easier month to month but costs much more interest over the life of the loan.
Is this an exact quote from a lender?
No. It is an estimate using the standard mortgage formula. Your lender's exact payment depends on their rounding, fees, insurance requirements and the rate they actually offer you.