Mortgage calculator
Your mortgage payment is the loan (price minus down payment) repaid with M = P ร r รท (1 โ (1 + r)^โn), plus any property tax, insurance and HOA fees per month. A 300,000 home with 20% down at 6.5% over 30 years costs 1,516.96 a month in principal and interest.
- ๐ Runs on your device
- โค 0 bytes uploaded
- ๐ด Works offline
- โ Free, no sign-up, no watermark
How to use Mortgage Calculator
- Enter the home price and your down payment (as a % or an amount).
- Enter the interest rate and the term in years.
- Optionally add yearly property tax, home insurance and monthly HOA fees.
- Read the monthly payment, total interest and the year-by-year schedule.
About Mortgage Calculator
This is a fixed-rate repayment mortgage with monthly payments. Adjustable-rate and interest-only mortgages behave differently. Tax and insurance vary by area and change over time, so treat the total as an estimate and check the lender's official figures.
Is it private?
Yes. Mortgage Calculator runs entirely in your web browser. What you type is never sent to Nolo or anyone else, and the page cannot send it anywhere: its security policy only allows it to talk to nolotools.com, which has no place to receive data. Nothing is stored either: close the page and it is gone. How Nolo works.
Questions and answers
What does the monthly payment include?
Principal and interest, plus property tax รท 12, insurance รท 12 and HOA fees if you enter them. It does not include PMI, which US lenders often charge when the down payment is under 20%.
How much interest will I pay over the loan?
The calculator shows total interest. On a 30-year loan it is often close to or more than the amount borrowed, which is why extra payments early on save so much.
Should I choose 15 or 30 years?
A 15-year term has higher payments but far less total interest. Try both terms here and compare the total interest figure.
Does it work for any currency?
Yes. Amounts are plain numbers, so use pounds, euros, naira, rupees or dollars.
Are my numbers sent anywhere?
No. Everything is calculated in your browser with JavaScript. Nothing you type is uploaded, stored on a server or tracked, and the calculator works offline once the page has loaded.