Mortgage Calculator
Calculate monthly mortgage payments including interest and term. Free, fast and private.
Formula: EMI = P × r × (1+r)n ÷ ((1+r)n − 1), where r = annual rate ÷ 12 ÷ 100 and n = months. Results are indicative estimates — actual payments depend on your lender's terms and fees.
How to use Mortgage Calculator
- Enter the home price and your down payment (if any).
- Enter the annual interest rate and the mortgage term in years.
- Click Calculate to see your monthly principal-and-interest payment, total interest and total payable.
Note: this tool runs in your browser. Nothing is uploaded.
Frequently Asked Questions
What does a mortgage calculator include?
This calculator covers principal and interest only. Taxes, home insurance, PMI and fees are extra and vary by lender and location.
How does a bigger down payment help?
It reduces the loan amount, so your monthly payment and total interest both fall.
How is the monthly mortgage payment calculated?
With the EMI formula on the loan amount (price minus down payment): P × r × (1+r)ⁿ ÷ ((1+r)ⁿ − 1), with r the monthly rate and n the number of months.
Is this mortgage calculator free?
Yes, it is 100% free with no sign-up. Your data stays in your browser.