Mortgage Calculator

Calculate your monthly mortgage payments, total interest paid, and see how extra payments can save you years. Our free online mortgage calculator helps you plan your home loan with detailed amortization schedules and visual charts.

How This Tool Works

The Mortgage Calculator uses standard amortization formulas to calculate monthly payments based on principal amount, interest rate, and loan term. It computes the monthly payment using the formula for present value of an annuity, then generates an amortization schedule showing interest and principal portions for each payment. Extra payments are applied to reduce the principal balance faster, potentially saving significant interest and shortening the loan term.

Common Use Cases

• Planning home purchases and budgeting monthly payments
• Comparing different loan terms and interest rates
• Understanding the impact of extra payments on loan duration
• Creating amortization schedules for financial planning
• Evaluating mortgage refinancing options
• Estimating total interest costs over the life of the loan

Privacy & Security

Your mortgage calculations are processed locally and privately. No personal or financial data is stored, logged, or transmitted. All calculations use standard mathematical formulas and remain confidential within your browser session. The tool operates without requiring accounts or data sharing.