1
Enter Home Price
Input property purchase price and down payment.
Mortgage Calculator
Calculate monthly payments and total interest
Pro Tip
A 15-year mortgage has higher monthly payments but saves massive interest versus 30-year. You'll pay nearly 2x interest with 30-year terms.
How to Use the Mortgage Calculator
2
Set Loan Terms
Choose interest rate and loan duration (15/30 years).
3
View Payments
See monthly payment, total interest, and amortization schedule.
Mortgage Fundamentals
Mortgages are long-term loans for real estate. Fixed-rate mortgages have consistent payments. ARMs (Adjustable Rate) have variable rates that change over time.
Frequently Asked Questions
15-year has higher payments but saves hundreds of thousands in interest. 30-year offers lower payments and more cash flow flexibility.
General rule: monthly payment shouldn't exceed 28% of gross income. Total debt payments under 36% including car, student loans.