Mortgage Calculator
Estimate your monthly mortgage payment, total interest and see how your loan pays down over time.
Monthly Payment
$2,102.17
- Loan amount
- $320,000
- Down payment
- $80,000
- Total interest
- $436,782
- Total payment
- $756,782
Assumptions
- Fixed interest rate for the full loan term
- Does not include property tax, homeowners insurance, or HOA fees
How it's calculated
Monthly payment = P * r / (1 - (1 + r)^-n), where P is the loan amount, r is the monthly interest rate, and n is the number of monthly payments.
Worked example
A $400,000 home with 20% down ($80,000) leaves a $320,000 loan. At 6.875% over 30 years, the monthly payment is approximately $2,102.
Frequently asked questions
Does this include property tax and insurance?
No — this calculator shows principal and interest only, per the assumptions listed above.