Mortgage Calculator - Home Loan

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Buying a home is one of the biggest financial decisions you'll ever make. Our Mortgage Calculator helps you understand exactly what you'll pay each month, how much total interest you'll pay over the life of the loan, and how different down payment amounts and loan terms affect your bottom line.

To use the calculator, enter your loan amount (the total you need to borrow), your down payment, the annual interest rate you expect, and the loan term in years. You can also include property tax and home insurance for a complete PITI (Principal, Interest, Taxes, Insurance) estimate. The calculator shows your monthly principal and interest payment, total interest over the loan, and total amount paid.

For example: a $300,000 loan at 6% over 30 years gives a monthly payment of about $1,798. Total interest paid: $347,000 — more than the original loan! But at 7% over 15 years, the monthly payment becomes $2,501 with only $150,000 total interest. The difference in total cost is staggering.

When shopping for a mortgage, always compare Annual Percentage Rate (APR) rather than just the interest rate. The APR includes all fees and points, giving you the true cost of borrowing. Don't forget that lenders charge closing costs — typically 2-5% of the loan amount.

Công thức
Monthly Payment = Loan × (Rate/12) × (1 + Rate/12)^N ÷ ((1 + Rate/12)^N − 1)

Câu hỏi thường gặp

How much can I afford for a down payment?
A 20% down payment avoids private mortgage insurance (PMI). FHA loans allow 3.5% down, VA loans 0% for veterans, and conventional loans typically require 5-20%. Aim for at least 10% to secure better interest rates.
How does loan term affect my payment?
A 30-year mortgage has the lowest monthly payment but you pay much more total interest. A 15-year has higher payments but drastically lower total interest — often saving hundreds of thousands of dollars over the life of the loan.
What is included in PITI?
PITI stands for Principal, Interest, Taxes, and Insurance — the four components of most monthly house payments. Principal and interest go toward your loan, while property taxes and home insurance are often held in an escrow account.
Should I use biweekly payments?
Biweekly payments (half the monthly amount every two weeks) effectively make 26 payments per year instead of 24, reducing total interest and paying off the loan several years early without a long-term commitment.

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