Mortgage calculator

Work out the monthly payment, loan amount and total interest for a home, from its price and your down payment.

Home price

Down payment

20% of the price

Interest rate (per year)

Term

Up to 50 years

Other monthly costs

Tax, insurance, fees

Monthly payment: 1,918.56; Principal and interest
Monthly total: 1,918.56; Including other monthly costs
Loan amount: 320,000.00
Total interest: 370,682.20
Total of payments: 690,682.20
Loan-to-value: 80%; Loan ÷ home price

For guidance only, not financial advice. Real offers depend on fees, taxes and terms. Check the exact figures with your bank, lender or accountant before you decide.

Repayment schedule by year

Year	Interest	Principal	Balance
1	19,093.10	3,929.64	316,070.36
2	18,850.73	4,172.01	311,898.35
3	18,593.41	4,429.33	307,469.02
4	18,320.22	4,702.52	302,766.50
5	18,030.18	4,992.56	297,773.94
6	17,722.25	5,300.49	292,473.45
7	17,395.33	5,627.41	286,846.03
8	17,048.24	5,974.50	280,871.53
9	16,679.74	6,343.00	274,528.54
10	16,288.52	6,734.22	267,794.32
11	15,873.17	7,149.57	260,644.75
12	15,432.20	7,590.54	253,054.21
13	14,964.03	8,058.71	244,995.50
14	14,466.99	8,555.75	236,439.75
15	13,939.29	9,083.45	227,356.30
16	13,379.04	9,643.70	217,712.60
17	12,784.24	10,238.50	207,474.10
18	12,152.75	10,869.99	196,604.12
19	11,482.31	11,540.43	185,063.69
20	10,770.53	12,252.21	172,811.48
21	10,014.84	13,007.90	159,803.57
22	9,212.54	13,810.20	145,993.37
23	8,360.75	14,661.99	131,331.38
24	7,456.44	15,566.30	115,765.08
25	6,496.34	16,526.40	99,238.68
26	5,477.03	17,545.71	81,692.97
27	4,394.85	18,627.89	63,065.07
28	3,245.92	19,776.82	43,288.25
29	2,026.13	20,996.61	22,291.64
30	731.10	22,291.64	0.00

Every payment (360)

Payment	Interest	Principal	Balance
1	1,600.00	318.56	319,681.44
2	1,598.41	320.15	319,361.28
3	1,596.81	321.76	319,039.53
4	1,595.20	323.36	318,716.16
5	1,593.58	324.98	318,391.18
6	1,591.96	326.61	318,064.58
7	1,590.32	328.24	317,736.34
8	1,588.68	329.88	317,406.46
9	1,587.03	331.53	317,074.93
10	1,585.37	333.19	316,741.74
11	1,583.71	334.85	316,406.89
12	1,582.03	336.53	316,070.36
13	1,580.35	338.21	315,732.15
14	1,578.66	339.90	315,392.25
15	1,576.96	341.60	315,050.65
16	1,575.25	343.31	314,707.34
17	1,573.54	345.02	314,362.32
18	1,571.81	346.75	314,015.57
19	1,570.08	348.48	313,667.08
20	1,568.34	350.23	313,316.86
21	1,566.58	351.98	312,964.88
22	1,564.82	353.74	312,611.14
23	1,563.06	355.51	312,255.64
24	1,561.28	357.28	311,898.35
25	1,559.49	359.07	311,539.28
26	1,557.70	360.87	311,178.42
27	1,555.89	362.67	310,815.75
28	1,554.08	364.48	310,451.27
29	1,552.26	366.31	310,084.96
30	1,550.42	368.14	309,716.82
31	1,548.58	369.98	309,346.85
32	1,546.73	371.83	308,975.02
33	1,544.88	373.69	308,601.33
34	1,543.01	375.56	308,225.78
35	1,541.13	377.43	307,848.34
36	1,539.24	379.32	307,469.02
37	1,537.35	381.22	307,087.81
38	1,535.44	383.12	306,704.69
39	1,533.52	385.04	306,319.65
40	1,531.60	386.96	305,932.68
41	1,529.66	388.90	305,543.79
42	1,527.72	390.84	305,152.94
43	1,525.76	392.80	304,760.15
44	1,523.80	394.76	304,365.38
45	1,521.83	396.73	303,968.65
46	1,519.84	398.72	303,569.93
47	1,517.85	400.71	303,169.22
48	1,515.85	402.72	302,766.50
49	1,513.83	404.73	302,361.77
50	1,511.81	406.75	301,955.02
51	1,509.78	408.79	301,546.24
52	1,507.73	410.83	301,135.40
53	1,505.68	412.88	300,722.52
54	1,503.61	414.95	300,307.57
55	1,501.54	417.02	299,890.55
56	1,499.45	419.11	299,471.44
57	1,497.36	421.20	299,050.23
58	1,495.25	423.31	298,626.92
59	1,493.13	425.43	298,201.50
60	1,491.01	427.55	297,773.94
61	1,488.87	429.69	297,344.25
62	1,486.72	431.84	296,912.41
63	1,484.56	434.00	296,478.41
64	1,482.39	436.17	296,042.24
65	1,480.21	438.35	295,603.89
66	1,478.02	440.54	295,163.35
67	1,475.82	442.74	294,720.60
68	1,473.60	444.96	294,275.64
69	1,471.38	447.18	293,828.46
70	1,469.14	449.42	293,379.04
71	1,466.90	451.67	292,927.37
72	1,464.64	453.92	292,473.45
73	1,462.37	456.19	292,017.26
74	1,460.09	458.48	291,558.78
75	1,457.79	460.77	291,098.01
76	1,455.49	463.07	290,634.94
77	1,453.17	465.39	290,169.55
78	1,450.85	467.71	289,701.84
79	1,448.51	470.05	289,231.79
80	1,446.16	472.40	288,759.38
81	1,443.80	474.76	288,284.62
82	1,441.42	477.14	287,807.48
83	1,439.04	479.52	287,327.96
84	1,436.64	481.92	286,846.03
85	1,434.23	484.33	286,361.70
86	1,431.81	486.75	285,874.95
87	1,429.37	489.19	285,385.76
88	1,426.93	491.63	284,894.13
89	1,424.47	494.09	284,400.04
90	1,422.00	496.56	283,903.48
91	1,419.52	499.04	283,404.43
92	1,417.02	501.54	282,902.89
93	1,414.51	504.05	282,398.85
94	1,411.99	506.57	281,892.28
95	1,409.46	509.10	281,383.18
96	1,406.92	511.65	280,871.53
97	1,404.36	514.20	280,357.33
98	1,401.79	516.78	279,840.55
99	1,399.20	519.36	279,321.20
100	1,396.61	521.96	278,799.24
101	1,394.00	524.57	278,274.67
102	1,391.37	527.19	277,747.49
103	1,388.74	529.82	277,217.66
104	1,386.09	532.47	276,685.19
105	1,383.43	535.14	276,150.05
106	1,380.75	537.81	275,612.24
107	1,378.06	540.50	275,071.74
108	1,375.36	543.20	274,528.54
109	1,372.64	545.92	273,982.62
110	1,369.91	548.65	273,433.97
111	1,367.17	551.39	272,882.58
112	1,364.41	554.15	272,328.43
113	1,361.64	556.92	271,771.51
114	1,358.86	559.70	271,211.81
115	1,356.06	562.50	270,649.30
116	1,353.25	565.32	270,083.99
117	1,350.42	568.14	269,515.85
118	1,347.58	570.98	268,944.86
119	1,344.72	573.84	268,371.03
120	1,341.86	576.71	267,794.32
121	1,338.97	579.59	267,214.73
122	1,336.07	582.49	266,632.24
123	1,333.16	585.40	266,046.84
124	1,330.23	588.33	265,458.51
125	1,327.29	591.27	264,867.24
126	1,324.34	594.23	264,273.02
127	1,321.37	597.20	263,675.82
128	1,318.38	600.18	263,075.64
129	1,315.38	603.18	262,472.46
130	1,312.36	606.20	261,866.26
131	1,309.33	609.23	261,257.03
132	1,306.29	612.28	260,644.75
133	1,303.22	615.34	260,029.41
134	1,300.15	618.41	259,411.00
135	1,297.05	621.51	258,789.49
136	1,293.95	624.61	258,164.88
137	1,290.82	627.74	257,537.14
138	1,287.69	630.88	256,906.26
139	1,284.53	634.03	256,272.23
140	1,281.36	637.20	255,635.03
141	1,278.18	640.39	254,994.65
142	1,274.97	643.59	254,351.06
143	1,271.76	646.81	253,704.25
144	1,268.52	650.04	253,054.21
145	1,265.27	653.29	252,400.92
146	1,262.00	656.56	251,744.36
147	1,258.72	659.84	251,084.52
148	1,255.42	663.14	250,421.38
149	1,252.11	666.45	249,754.93
150	1,248.77	669.79	249,085.14
151	1,245.43	673.14	248,412.01
152	1,242.06	676.50	247,735.50
153	1,238.68	679.88	247,055.62
154	1,235.28	683.28	246,372.34
155	1,231.86	686.70	245,685.64
156	1,228.43	690.13	244,995.50
157	1,224.98	693.58	244,301.92
158	1,221.51	697.05	243,604.87
159	1,218.02	700.54	242,904.33
160	1,214.52	704.04	242,200.29
161	1,211.00	707.56	241,492.73
162	1,207.46	711.10	240,781.63
163	1,203.91	714.65	240,066.98
164	1,200.33	718.23	239,348.75
165	1,196.74	721.82	238,626.93
166	1,193.13	725.43	237,901.51
167	1,189.51	729.05	237,172.45
168	1,185.86	732.70	236,439.75
169	1,182.20	736.36	235,703.39
170	1,178.52	740.04	234,963.35
171	1,174.82	743.74	234,219.60
172	1,171.10	747.46	233,472.14
173	1,167.36	751.20	232,720.94
174	1,163.60	754.96	231,965.98
175	1,159.83	758.73	231,207.25
176	1,156.04	762.53	230,444.72
177	1,152.22	766.34	229,678.38
178	1,148.39	770.17	228,908.21
179	1,144.54	774.02	228,134.19
180	1,140.67	777.89	227,356.30
181	1,136.78	781.78	226,574.52
182	1,132.87	785.69	225,788.83
183	1,128.94	789.62	224,999.22
184	1,125.00	793.57	224,205.65
185	1,121.03	797.53	223,408.12
186	1,117.04	801.52	222,606.60
187	1,113.03	805.53	221,801.07
188	1,109.01	809.56	220,991.51
189	1,104.96	813.60	220,177.91
190	1,100.89	817.67	219,360.23
191	1,096.80	821.76	218,538.47
192	1,092.69	825.87	217,712.60
193	1,088.56	830.00	216,882.61
194	1,084.41	834.15	216,048.46
195	1,080.24	838.32	215,210.14
196	1,076.05	842.51	214,367.63
197	1,071.84	846.72	213,520.90
198	1,067.60	850.96	212,669.95
199	1,063.35	855.21	211,814.73
200	1,059.07	859.49	210,955.25
201	1,054.78	863.79	210,091.46
202	1,050.46	868.10	209,223.36
203	1,046.12	872.44	208,350.91
204	1,041.75	876.81	207,474.10
205	1,037.37	881.19	206,592.91
206	1,032.96	885.60	205,707.32
207	1,028.54	890.03	204,817.29
208	1,024.09	894.48	203,922.82
209	1,019.61	898.95	203,023.87
210	1,015.12	903.44	202,120.43
211	1,010.60	907.96	201,212.47
212	1,006.06	912.50	200,299.97
213	1,001.50	917.06	199,382.90
214	996.91	921.65	198,461.26
215	992.31	926.26	197,535.00
216	987.68	930.89	196,604.12
217	983.02	935.54	195,668.57
218	978.34	940.22	194,728.36
219	973.64	944.92	193,783.44
220	968.92	949.64	192,833.79
221	964.17	954.39	191,879.40
222	959.40	959.16	190,920.23
223	954.60	963.96	189,956.27
224	949.78	968.78	188,987.49
225	944.94	973.62	188,013.87
226	940.07	978.49	187,035.38
227	935.18	983.38	186,051.99
228	930.26	988.30	185,063.69
229	925.32	993.24	184,070.45
230	920.35	998.21	183,072.24
231	915.36	1,003.20	182,069.04
232	910.35	1,008.22	181,060.82
233	905.30	1,013.26	180,047.56
234	900.24	1,018.32	179,029.24
235	895.15	1,023.42	178,005.82
236	890.03	1,028.53	176,977.29
237	884.89	1,033.68	175,943.62
238	879.72	1,038.84	174,904.77
239	874.52	1,044.04	173,860.73
240	869.30	1,049.26	172,811.48
241	864.06	1,054.50	171,756.97
242	858.78	1,059.78	170,697.19
243	853.49	1,065.08	169,632.12
244	848.16	1,070.40	168,561.72
245	842.81	1,075.75	167,485.96
246	837.43	1,081.13	166,404.83
247	832.02	1,086.54	165,318.30
248	826.59	1,091.97	164,226.33
249	821.13	1,097.43	163,128.90
250	815.64	1,102.92	162,025.98
251	810.13	1,108.43	160,917.55
252	804.59	1,113.97	159,803.57
253	799.02	1,119.54	158,684.03
254	793.42	1,125.14	157,558.89
255	787.79	1,130.77	156,428.12
256	782.14	1,136.42	155,291.70
257	776.46	1,142.10	154,149.60
258	770.75	1,147.81	153,001.78
259	765.01	1,153.55	151,848.23
260	759.24	1,159.32	150,688.91
261	753.44	1,165.12	149,523.79
262	747.62	1,170.94	148,352.85
263	741.76	1,176.80	147,176.05
264	735.88	1,182.68	145,993.37
265	729.97	1,188.59	144,804.77
266	724.02	1,194.54	143,610.24
267	718.05	1,200.51	142,409.73
268	712.05	1,206.51	141,203.21
269	706.02	1,212.55	139,990.67
270	699.95	1,218.61	138,772.06
271	693.86	1,224.70	137,547.36
272	687.74	1,230.82	136,316.53
273	681.58	1,236.98	135,079.55
274	675.40	1,243.16	133,836.39
275	669.18	1,249.38	132,587.01
276	662.94	1,255.63	131,331.38
277	656.66	1,261.90	130,069.48
278	650.35	1,268.21	128,801.27
279	644.01	1,274.56	127,526.71
280	637.63	1,280.93	126,245.78
281	631.23	1,287.33	124,958.45
282	624.79	1,293.77	123,664.68
283	618.32	1,300.24	122,364.44
284	611.82	1,306.74	121,057.70
285	605.29	1,313.27	119,744.43
286	598.72	1,319.84	118,424.59
287	592.12	1,326.44	117,098.15
288	585.49	1,333.07	115,765.08
289	578.83	1,339.74	114,425.34
290	572.13	1,346.43	113,078.91
291	565.39	1,353.17	111,725.74
292	558.63	1,359.93	110,365.81
293	551.83	1,366.73	108,999.08
294	545.00	1,373.57	107,625.51
295	538.13	1,380.43	106,245.07
296	531.23	1,387.34	104,857.74
297	524.29	1,394.27	103,463.47
298	517.32	1,401.24	102,062.22
299	510.31	1,408.25	100,653.97
300	503.27	1,415.29	99,238.68
301	496.19	1,422.37	97,816.31
302	489.08	1,429.48	96,386.83
303	481.93	1,436.63	94,950.20
304	474.75	1,443.81	93,506.39
305	467.53	1,451.03	92,055.36
306	460.28	1,458.28	90,597.08
307	452.99	1,465.58	89,131.50
308	445.66	1,472.90	87,658.60
309	438.29	1,480.27	86,178.33
310	430.89	1,487.67	84,690.66
311	423.45	1,495.11	83,195.55
312	415.98	1,502.58	81,692.97
313	408.46	1,510.10	80,182.87
314	400.91	1,517.65	78,665.22
315	393.33	1,525.24	77,139.99
316	385.70	1,532.86	75,607.12
317	378.04	1,540.53	74,066.60
318	370.33	1,548.23	72,518.37
319	362.59	1,555.97	70,962.40
320	354.81	1,563.75	69,398.65
321	346.99	1,571.57	67,827.08
322	339.14	1,579.43	66,247.66
323	331.24	1,587.32	64,660.33
324	323.30	1,595.26	63,065.07
325	315.33	1,603.24	61,461.84
326	307.31	1,611.25	59,850.58
327	299.25	1,619.31	58,231.27
328	291.16	1,627.41	56,603.87
329	283.02	1,635.54	54,968.33
330	274.84	1,643.72	53,324.61
331	266.62	1,651.94	51,672.67
332	258.36	1,660.20	50,012.47
333	250.06	1,668.50	48,343.97
334	241.72	1,676.84	46,667.13
335	233.34	1,685.23	44,981.90
336	224.91	1,693.65	43,288.25
337	216.44	1,702.12	41,586.13
338	207.93	1,710.63	39,875.50
339	199.38	1,719.18	38,156.31
340	190.78	1,727.78	36,428.53
341	182.14	1,736.42	34,692.12
342	173.46	1,745.10	32,947.01
343	164.74	1,753.83	31,193.19
344	155.97	1,762.60	29,430.59
345	147.15	1,771.41	27,659.18
346	138.30	1,780.27	25,878.92
347	129.39	1,789.17	24,089.75
348	120.45	1,798.11	22,291.64
349	111.46	1,807.10	20,484.53
350	102.42	1,816.14	18,668.40
351	93.34	1,825.22	16,843.18
352	84.22	1,834.35	15,008.83
353	75.04	1,843.52	13,165.31
354	65.83	1,852.74	11,312.58
355	56.56	1,862.00	9,450.58
356	47.25	1,871.31	7,579.27
357	37.90	1,880.67	5,698.60
358	28.49	1,890.07	3,808.54
359	19.04	1,899.52	1,909.02
360	9.55	1,909.02	0.00

How it works

What goes into a mortgage payment

You borrow the price of the home minus your down payment. With a fixed rate, you then pay the same amount every month: at first mostly interest, later mostly repayment of the loan itself. The repayment schedule shows how that shifts year by year.

Example: a 400,000 home with 80,000 down leaves a 320,000 loan. At 6% over 30 years, the monthly payment is 1,918.56, and the interest over the whole term adds up to about 370,700, more than the amount borrowed.

Ways to lower the cost

A bigger down payment: a smaller loan, and often a better rate.
A shorter term: higher monthly payments, but much less interest in total.
Comparing lenders: on a large, long loan, a small difference in rate is a lot of money.

For other loans, such as a car loan, use the loan calculator.

More calculators

Other quick calculators

Frequently asked questions

How is the mortgage payment calculated?

The loan is the home price minus your down payment. For a fixed-rate mortgage with equal monthly payments, payment = P × r ÷ (1 − (1 + r)^−n), where P is the loan amount, r the monthly rate (yearly rate ÷ 12) and n the number of payments. Other monthly costs you enter are added on top.

How much should my down payment be?

It depends on the country and the lender. A larger down payment means a smaller loan, lower payments and less interest. Many lenders offer better rates, or skip extra mortgage insurance, once the down payment reaches a certain share of the price, often 20%.

What is loan-to-value (LTV)?

The loan as a percentage of the home’s price or value. A 320,000 loan on a 400,000 home has an LTV of 80%. Lenders use it to judge risk: the lower the LTV, the better the terms usually are.

What should I put in "other monthly costs"?

Anything you pay every month because of the home and the loan: property tax, home insurance, mortgage insurance, homeowners’ association or service fees. Divide yearly amounts by 12.

Does this work for variable-rate mortgages?

It shows what you would pay if the rate stayed the same for the whole term. With a variable or adjustable rate, payments change when the rate does, so try a few higher rates to see what you could afford.