Mortgage Calculator
Estimate home loan payments with precision. Enter home price, down payment, loan term (15, 20, 30 years), and interest rate to determine your monthly principal & interest payment, total lifetime interest, and view an interactive amortization breakdown.
How to calculate: $400,000 Home, 20% Down ($80,000), 30-Year at 6.5%
Standard fixed-rate mortgage formula where P is principal, i is monthly interest rate, and n is total monthly payments.
Loan Amount: $320,000.00
About Mortgage Calculator
Estimate home loan payments with precision. Enter home price, down payment, loan term (15, 20, 30 years), and interest rate to determine your monthly principal & interest payment, total lifetime interest, and view an interactive amortization breakdown.
Primary Purpose: Calculate monthly mortgage payment and loan amortization
How to Use the Mortgage Calculator
- 1Enter Home Price and Down Payment.
- 2Select Loan Term (e.g. 15 or 30 years) and Annual Interest Rate.
- 3Instantly view your monthly payment, interest vs principal breakdown, and annual payment schedule.
Formula & Methodology
Standard fixed-rate mortgage formula where P is principal, i is monthly interest rate, and n is total monthly payments.
Real-World Worked Examples
$400,000 Home, 20% Down ($80,000), 30-Year at 6.5%
How Mortgage Amortization Works: Principal vs. Interest Over Time
Learn why early mortgage payments consist almost entirely of interest and how making small principal prepayments saves thousands.
Frequently Asked Questions
What does P&I stand for?
P&I stands for Principal and Interest — the base monthly payment required to service your loan balance and interest fees.
Does this include property taxes and insurance?
This universal tool focuses on core loan amortization. Use our US Mortgage Calculator for full PITI (Principal, Interest, Taxes, and Insurance).
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