Mortgage Calculator
Estimate your monthly payment, total interest paid and full amortisation schedule.
Quick answer: Mortgage Calculator: estimate your monthly payment, total interest paid and full amortisation schedule. Runs entirely in your browser, free, no signup.
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Good to know
The monthly figure this tool returns is principal and interest only. Your actual housing payment — often called PITI — also bundles property taxes, homeowners insurance, and, if your down payment is under 20%, private mortgage insurance. Budgeting from the P&I number alone is the classic first-time-buyer mistake; add those escrow items before deciding what you can afford.
The amortization schedule reveals something the headline payment hides: in the early years, the overwhelming majority of each payment goes to interest, not principal. That front-loading is why making even small extra principal payments in the first few years shortens the loan dramatically and saves far more interest than the same payment made near the end.
Small rate changes compound over decades — a quarter-point difference on a 30-year loan can shift total interest by thousands. Model a few scenarios, and if you are weighing loans of different sizes or terms, cross-check with the general loan payment calculator. Currency selection here only affects formatting; the underlying amortization math is identical worldwide.
Frequently asked questions
- Does this include taxes, insurance, PMI or HOA?
- No — only principal and interest. Your real monthly housing cost will be higher; add property tax (~1%/yr of value), insurance (~$1k/yr), HOA fees and PMI (if down < 20%).
- Which formula do you use?
- The standard amortising-loan formula: M = P × r / (1 - (1+r)^-n), where r is the monthly rate, n is the number of payments, and P is the principal.
- Can I choose a different currency?
- Yes — we have presets for USD, EUR, GBP, CAD, AUD, JPY and others. The currency only affects the display formatting; all calculations are pure numbers.
- How accurate is the schedule?
- Accurate to the cent for the displayed values. The final payment may be a few cents higher or lower than the rest because of rounding — same as your bank's amortisation table.
- Are my numbers uploaded?
- No — every calculation runs in your browser. Nothing leaves your device.