Free Online Mortgage Calculator
Estimate your monthly mortgage payment, total interest, and view a full amortization schedule.
Uses the standard amortization formula. Results are estimates and may differ from your lender's figures.
Principal vs interest
Amortization schedule
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
| 1 | $2,528.27 | $361.61 | $2,166.67 | $399,638.39 |
| 2 | $2,528.27 | $363.56 | $2,164.71 | $399,274.83 |
| 3 | $2,528.27 | $365.53 | $2,162.74 | $398,909.30 |
| 4 | $2,528.27 | $367.51 | $2,160.76 | $398,541.78 |
| 5 | $2,528.27 | $369.50 | $2,158.77 | $398,172.28 |
| 6 | $2,528.27 | $371.51 | $2,156.77 | $397,800.77 |
| 7 | $2,528.27 | $373.52 | $2,154.75 | $397,427.26 |
| 8 | $2,528.27 | $375.54 | $2,152.73 | $397,051.71 |
| 9 | $2,528.27 | $377.58 | $2,150.70 | $396,674.14 |
| 10 | $2,528.27 | $379.62 | $2,148.65 | $396,294.52 |
| 11 | $2,528.27 | $381.68 | $2,146.60 | $395,912.84 |
| 12 | $2,528.27 | $383.74 | $2,144.53 | $395,529.10 |
Buying in the US?
Try our Mortgage Calculator with PMI, property tax, and HOA for a complete monthly payment picture.
What is Mortgage Calculator?
A mortgage calculator estimates the monthly payment needed to repay a home loan at a fixed interest rate over a set term. It applies the standard amortization formula to split each payment between principal and interest, then builds a month-by-month schedule showing how the balance declines over time. This general version covers any fixed-rate mortgage — for a version that adds US property tax, HOA, and PMI, see our US mortgage calculator.
How to use it
- Enter the home loan amount you plan to borrow (your loan principal).
- Enter the annual interest rate (APR) and the loan term in years or months.
- Review your monthly payment, total interest, and total repayment.
- Open the amortization schedule to see how each payment breaks down.
Mortgage payment formula
Monthly payment M = P × [r(1+r)ⁿ] ÷ [(1+r)ⁿ − 1], where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12 ÷ 100), and n is the number of monthly payments. If the rate is 0%, the payment is simply P ÷ n.
Frequently asked questions
A mortgage is a loan specifically used to buy real estate and secured by the property itself. The math is the same as any fixed-rate installment loan, but mortgages usually run 15 to 30 years and often include escrow for taxes and insurance, which this general calculator does not add.
No. This general version calculates only principal and interest. For a US estimate that adds property tax, HOA fees, and PMI, use our US mortgage calculator linked below the results.
A longer term (such as 30 years) lowers the monthly payment but increases total interest paid. A shorter term (such as 15 years) raises the monthly payment but sharply reduces the total cost of the loan.
Amortization is the process of paying off a loan in equal installments. Early payments are mostly interest, while later payments are mostly principal. The schedule shows this shift over time.
With a 0% rate there is no interest, so the monthly payment is simply the loan amount divided by the number of months. This calculator handles that case automatically.
Results are estimates based on a fixed rate and standard amortization. Your lender's figures may differ due to rounding, fees, escrow, or adjustable rates.
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