Mortgage Calculator
Work out the monthly payment on a home loan, including how much interest you will pay over the full term.
Quick answer: enter your details below and click Calculate — your result appears instantly, right here in your browser. Nothing you enter is uploaded or stored.
M
Calculators
Enter your details below.
How to use
- Enter the home price and the down payment you plan to make.
- Enter the annual interest rate and the loan term in years.
- Press Calculate to see the monthly payment, total paid and total interest.
About this tool
Enter the home price, your down payment, the annual interest rate and the loan term. The calculator subtracts the down payment from the price to get the loan amount, then spreads it over equal monthly payments using the standard amortising loan formula, where interest is charged each month on the remaining balance.
Frequently asked questions
Does a bigger down payment lower the monthly payment?
Yes. A bigger down payment means a smaller loan, and a smaller loan means a lower monthly payment and less total interest.
What happens if the interest rate is zero?
With no interest, the loan is simply divided equally over all the months, so the monthly payment is the loan amount divided by the number of months.