House Mortgage Calculator
Calculate your monthly mortgage payment, total interest, and amortization schedule based on loan amount, interest rate, and term.
Published by:
isCalculator Editorial Team
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How to use this tool?
How to Use the House Mortgage Calculator
- Enter Loan Amount – Input the total home price (e.g., $300,000). Must be a positive number.
- Enter Annual Interest Rate – Provide the yearly rate (e.g., 6.5 for 6.5%). Use positive numbers.
- Enter Loan Term – Specify the repayment period in years (e.g., 30). Must be a whole number ≥ 1.
- Optional Fields – Add Down Payment, Annual Property Tax, and Annual Insurance if applicable. Enter 0 if none.
- Click "Calculate Mortgage" – The button validates inputs and shows results below.
What You Get:
- Monthly Payment – Total monthly cost including principal, interest, tax, and insurance.
- Total Interest – Interest paid over the full loan term.
- Payment Breakdown – Shows principal & interest, property tax, and insurance separately.
- Amortization Schedule – First 5 years of annual principal, interest, and remaining balance.
Note: All monetary values are in US dollars ($). Inputs must be positive numbers (non-negative for optional fields). The calculator uses standard monthly compounding. If the loan amount after down payment is zero or negative, results show "N/A".
Previous Results
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Frequently Asked Questions
A mortgage calculator estimates your monthly mortgage payment based on loan amount, interest rate, loan term, down payment, property tax, and insurance.
The monthly payment is calculated using the formula M = P [r(1+r)^n] / [(1+r)^n – 1], where P is the principal, r is the monthly interest rate, and n is the number of payments.
Including property tax and insurance gives a more accurate estimate of your total monthly housing cost, as these are often escrowed into the payment.
