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Mortgage Calculator — Monthly Payments, Amortization & Total Interest

A mortgage is likely the largest financial commitment you’ll ever make. Understanding how different home prices, down payments, interest rates, and loan terms affect your monthly payment and total cost is essential for making an informed decision.

This calculator breaks down your monthly payment into principal and interest, computes the total cost over the full loan term, and visualizes the amortization schedule so you can see exactly how much of each payment goes toward building equity versus paying interest.

Mortgage Calculator
Calculate monthly mortgage payments, total interest costs, and view your complete amortization schedule.
20%
30 Years
Monthly Payment
$2,023

Monthly

Loan Amount$320,000
Total Payment$728,142
Total Interest$408,142

Estimates only — not financial advice.

Amortization Schedule

How to Use the Mortgage Calculator

  1. 1

    Enter the home price you’re considering. Adjust the down payment percentage slider — a higher down payment reduces your loan amount and may eliminate private mortgage insurance (PMI).

  2. 2

    Set your interest rate. Even a 0.5% difference can mean tens of thousands of dollars over a 30-year loan.

  3. 3

    Choose your loan term: 15, 20, or 30 years. A shorter term means higher monthly payments but dramatically less total interest paid.

  4. 4

    Review the results. The monthly payment breakdown shows principal and interest separately. The total cost figure includes all payments over the life of the loan.

  5. 5

    Study the amortization bar chart. It visualizes how the principal-to-interest ratio shifts over time — in the early years, most of your payment goes toward interest; in the later years, it flips.