Find your monthly payment, total interest paid, and full cost of your home. Supports any loan term and interest rate.
Enter your home price, down payment, annual interest rate, and loan term. The calculator instantly shows your estimated monthly mortgage payment, the total interest you will pay over the life of the loan, and the true total cost of your home.
This calculator computes principal and interest (P&I) only. Your actual monthly payment may also include property taxes, homeowner's insurance, and private mortgage insurance (PMI) — typically required when your down payment is less than 20%. Add roughly 1–2% of the home value annually to estimate taxes and insurance.
A 30-year mortgage has lower monthly payments but costs significantly more in interest over time. A 15-year mortgage has higher payments but builds equity faster and typically comes with a lower interest rate. Use the calculator to compare both and see the long-term difference.
Even a small change in interest rate has a big impact. On a $400,000 loan, the difference between 6% and 7% is roughly $250 per month — and over $90,000 in total interest over 30 years. Shopping for the best rate is one of the most impactful financial decisions you can make.