Loading...
Calculate your monthly mortgage payment, total interest, and amortization schedule instantly. Compare 15-year vs 30-year loans with accurate PITI calculations.
Get accurate mortgage estimates in seconds
See principal, interest, taxes, and insurance
View your complete payment schedule
Compare 15-year vs 30-year mortgages
Input the total purchase price of the home you're considering.
Enter your down payment amount or percentage (typically 3-20%).
Input the annual interest rate and choose your loan term (15 or 30 years).
Add property taxes, homeowners insurance, and HOA fees for accurate monthly payment.
The amount you borrowed that goes toward paying down your loan balance.
The cost of borrowing money, calculated as a percentage of your loan amount.
Annual property taxes divided into monthly payments, held in escrow.
Homeowners insurance and PMI (if down payment is less than 20%).
Our calculator uses the standard amortization formula to calculate your monthly payment:
M = Monthly payment
P = Principal loan amount
r = Monthly interest rate (annual rate ÷ 12)
n = Number of payments (loan term in years × 12)
Example: For a $300,000 loan at 6.5% interest over 30 years:
Monthly payment = $1,896.20 (principal & interest only)
Source: This formula is the industry standard used by banks and financial institutions, as documented by the Consumer Financial Protection Bureau.
View detailed payment schedule
Calculate refinancing savings
Find out how much you can afford
Compare renting vs buying
Calculate loan payments
Calculate home loan EMI
A higher credit score can save you thousands in interest. Aim for 740+ for the best rates.
Compare rates from at least 3-5 lenders. Even 0.25% difference can save thousands over time.
Making bi-weekly payments can help you pay off your mortgage years earlier and save on interest.
Our mortgage calculator uses industry-standard formulas and is designed to provide accurate estimates. For more information about mortgages and home buying, consult these authoritative sources:
Official government resource for mortgage information and consumer protection
Information about FHA loans, mortgage insurance, and homebuyer programs
Weekly national average mortgage rates since 1971
Mortgage guidelines, homebuyer resources, and loan programs
Home mortgage interest deduction information
Current rates, mortgage news, and educational content
Our mortgage calculator uses the standard amortization formula employed by financial institutions worldwide. The calculations are based on compound interest principles and follow guidelines established by theConsumer Financial Protection Bureau (CFPB)and Federal Housing Finance Agency (FHFA). All formulas are regularly audited for accuracy.
Our financial tools team continuously monitors mortgage industry changes, tax law updates, and lending standards. This calculator was last reviewed and updated on December 20, 2024. We verify calculations against multiple authoritative sources including Freddie Mac, Fannie Mae, and HUD guidelines.
CalcFinex is a financial calculator platform dedicated to providing accurate, free tools for personal finance decisions. Our team includes financial analysts and software engineers who ensure our calculators meet industry standards and provide reliable calculations for mortgage planning.
All calculations are performed locally in your browser using client-side JavaScript. We do not store, transmit, or share your financial information with any third parties. Your data remains completely private and secure. No registration or personal information is required to use this tool.
This calculator provides estimates for educational and informational purposes only. Actual mortgage terms, rates, and payments may vary based on your credit profile, lender requirements, location, and current market conditions. Always consult with a licensed mortgage professional, financial advisor, or certified financial planner for personalized advice. CalcFinex is not a lender, mortgage broker, or financial advisor and does not provide financial, legal, or tax advice.
Clean, modern design that's easy to use on any device
Perfect experience on mobile, tablet, and desktop
Include PMI, HOA fees, and extra payments in your calculations
Interactive charts showing payment breakdown and amortization
Save your calculations and share them with family or advisors
Instant calculations with no page reloads or delays
Get started with our free mortgage calculator and take the first step toward homeownership.
Calculate Now →