Mortgage Calculator

A fixed-rate mortgage payment is calculated from four numbers: the loan amount (home price minus down payment), the interest rate, and the loan term. Each monthly payment is split between interest — charged on whatever balance is still outstanding — and principal, which reduces that balance. Early in the loan, most of each payment goes toward interest; later payments are mostly principal, which is why the amortization summary below shows interest paid shrinking and principal paid growing every year.

This calculator shows principal and interest first, since that's the part a fixed interest rate actually determines. Property tax and home insurance are optional add-ons because they vary by location, home value and insurer, and are usually collected into an escrow account by the lender rather than being part of the loan itself.

Every number here is an estimate for planning purposes. Actual mortgage offers depend on your credit profile, the specific lender, loan type (conventional, FHA, etc.), points paid, mortgage insurance (PMI) if your down payment is under 20%, and closing costs — none of which this calculator has enough information to model. Always confirm real figures with a lender before making a decision.

Property tax, insurance and HOA (homeowners association) dues — or service charges for a leasehold flat in the UK — are optional and never filled in for you, because they vary enormously by location and property. When you enter them, they're listed line by line under the principal-and-interest payment so you can see exactly what makes up the estimated monthly total. Mortgage insurance (PMI) and lender fees aren't modeled.