About
What this calculator is and how to use it
Mortgage Calculator is a free tool designed to estimate monthly mortgage payments, total interest, and total loan cost based on the numbers you enter.
How it works
- Loan Amount: The total amount being borrowed.
- Interest Rate (APR): Annual interest rate, converted to a monthly rate.
- Loan Term: The number of years you’ll repay the loan.
- Down Payment: Optional amount subtracted from the loan amount.
Important notes
This calculator provides estimates only. Real payments can differ depending on lender fees, taxes, insurance, PMI, HOA, and other factors.