Online Mortgage Calculator: Plan Your Homeownership Journey
Free & Accurate Mortgage Calculator
Use our simple mortgage payment calculator to estimate your monthly house payment, including principal and interest. See a complete loan amortization schedule to understand how your home mortgage is paid off over time.
Understanding Your Mortgage Payments
Our home loan calculator helps you get a clear picture of your potential monthly house payment. By entering the loan amount, interest rate, and term, you can instantly see what you might owe each month. This tool is perfect whether you’re considering buying a new home or looking into a refinance mortgage calculator for your current property.
How to Use the House Payment Calculator
Simply input the total property loan calculator amount, your estimated annual interest rate, and the loan term in years. The monthly mortgage payment estimator will then calculate your payment. This figure represents the principal and interest (P+I) portion of your payment. Remember, your total payment will also likely include property taxes, homeowner’s insurance, and possibly private mortgage insurance (PMI).
What is a Loan Amortization Schedule?
The amortization schedule generated by our calculator provides a month-by-month breakdown of your payments. You can see how much of each payment goes toward the principal (paying down your loan balance) versus interest (the cost of borrowing). Our principal and interest calculator shows how, over time, a larger portion of your payment shifts from interest to principal, building equity in your home faster.
Frequently Asked Questions (FAQ)
Q: Is this a fixed-rate mortgage calculator?
A: Yes, this calculator is designed for fixed-rate mortgages, where the interest rate remains the same for the entire loan term.
Q: How do I calculate mortgage payments with taxes and insurance?
A: While this simple mortgage calculator focuses on P+I, you can estimate your total payment by adding your monthly property tax (annual tax divided by 12) and monthly homeowner’s insurance premium to the result.
Q: Can I use this as a home mortgage calculator for any loan term?
A: Absolutely. While 15 and 30 years are common, you can enter any term in years to see how it affects your monthly payment and total interest paid.