Mortgage Payment Calculator
Estimate your monthly principal-and-interest payment for a fixed-rate conventional mortgage. Add taxes and insurance separately after you see the base number.
Estimated monthly payment
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Principal: —/moInterest: —/mo
- Loan amount
- —
- Total interest
- —
- Total cost
- —
Estimates only — not financial advice. Assumes fixed-rate conventional loan.
Worked example
A $400,000 home with 20% down ($80,000) leaves a $320,000 loan. At 7.0% fixed over 30 years:
- Loan amount
- $320,000
- Monthly payment (P&I)
- $2,129
- Total interest over 30 years
- $446,428
- Total cost of the home
- $846,428
Sensitivity: Payment by rate and term
| Rate / Term | 15 years | 20 years | 30 years |
|---|---|---|---|
| 6.0% | $2,700 | $2,292 | $1,919 |
| 6.5% | $2,788 | $2,386 | $2,024 |
| 7.0% | $2,877 | $2,483 | $2,129 |
| 7.5% | $2,967 | $2,582 | $2,239 |
| 8.0% | $3,059 | $2,684 | $2,350 |
How it works
Monthly Payment = Loan × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]
where r = annual rate ÷ 12 and n = loan term in months.