🏠Mortgage Calculator

Enter your home price, down payment, annual interest rate, and loan term. The tool instantly calculates your monthly principal and interest payment, total interest paid, and the total cost of the loan. It also shows a full amortization schedule and a principal-vs-interest chart. Optionally expand the taxes and fees section to add property tax, home insurance, PMI, and HOA fees — the tool then shows your complete monthly payment including all those costs.

Yes, completely free with no sign-up, no downloads, and no limits. You can run as many scenarios as you like — change the home price, down payment, rate, or term and the results update instantly.

Yes, optionally. Click the "Optional: taxes, insurance & fees" section to expand it and enter annual property tax, annual home insurance, a monthly PMI amount, and monthly HOA fees. The tool adds all these to your monthly principal and interest to show your full PITI-style monthly payment alongside a breakdown of each component.

PMI stands for Private Mortgage Insurance. Most lenders require it when your down payment is less than 20% of the home price (i.e. the loan-to-value ratio exceeds 80%). It protects the lender if you default on the loan and is typically paid as a monthly premium. Once you've built enough equity — usually when the loan balance falls below 80% of the home's value — you may be able to cancel PMI. You can enter your estimated monthly PMI amount in the optional section of the calculator.

An amortization schedule is a month-by-month table showing how each mortgage payment is divided between the interest portion and the principal portion, along with the remaining loan balance after each payment. It lets you see exactly how your loan balance decreases over time and how much of the total interest you'll pay by any given point in the loan's life.

With a standard amortizing mortgage, interest is charged on the outstanding loan balance each month. At the start of the loan the balance is highest, so interest takes the largest share of each payment. As you pay down the balance over time, the interest portion shrinks and the principal portion grows. By the final payments, nearly the entire payment goes to principal. This is why extra early payments can significantly reduce total interest paid.

A larger down payment reduces the loan amount, which directly lowers your monthly principal and interest payment and the total interest you'll pay over the life of the loan. It can also eliminate or reduce PMI if it brings the loan-to-value ratio below 80%. You can experiment with different down payment amounts in the calculator to see the impact instantly.

Yes. Use the number system toggle at the top to switch between international formatting (e.g. 1,000,000) and Indian formatting (e.g. 10,00,000 — lakhs and crores). Every figure on the page updates immediately, including inputs, summary cards, the monthly breakdown, and the amortization table. Numbers are also shown in words beneath significant inputs and results as a visual sanity check — useful for catching misplaced zeros on large amounts.

No. All calculations run entirely in your browser. Your numbers are never stored, shared, or sent to any server. Close the tab and the data is gone — there's nothing to delete or worry about.

The calculator gives useful estimates for planning and comparing mortgage scenarios, but it is a general-purpose tool — not financial advice. Actual mortgage rates, fees, property taxes, and insurance costs vary by lender, location, and borrower profile. Always verify exact figures with your lender and financial adviser before committing to a home purchase or mortgage.