How Mortgage Payments Work
A mortgage payment is made up of principal, interest, taxes, and insurance. This calculator focuses on principal and interest using standard amortization, showing exactly how much you'll pay each month and over the life of the loan. Even a small difference in interest rate can add up to tens of thousands of dollars, so running multiple scenarios here is time well spent.
To get the most accurate estimate, use the actual rate quoted by your lender and include the correct loan term. If you're comparing a 15-year vs. 30-year mortgage, this tool makes the trade-off between monthly cost and total interest crystal clear. Your numbers never leave your device — every calculation runs locally in your browser.