Free mortgage calculator — payment & amortization
Work out your monthly mortgage payment, total interest, total cost and a full amortization schedule — instantly and privately in your browser. Enter the home price, down payment, interest rate, term and any extra monthly payment to see exactly what a home loan will cost before you borrow.
How to calculate a mortgage payment
- Enter the home price and your down payment (amount or percentage).
- Set the interest rate and loan term (e.g. 30 years).
- Optionally add property tax, insurance and any extra monthly payment.
- Review the monthly payment, total interest and total cost.
- Scroll through the amortization schedule to see how each payment is split.
What drives your monthly payment
- Loan amount — price minus down payment.
- Interest rate — even 1% changes the total dramatically.
- Term — longer term = lower monthly payment but much more total interest.
- Extra payments — every extra dollar goes straight to principal.
How extra payments save you money
Extra monthly payments go entirely to the principal, shortening the loan and cutting total interest. Even $100 extra per month on a 30-year loan can save tens of thousands and knock years off the term. The amortization schedule shows exactly how much you'll save.
Financial disclaimer: The ToolCrix mortgage calculator produces estimates for educational purposes only — it is not financial, lending or tax advice. Actual mortgage payments depend on the rate, fees, points, PMI, property taxes, insurance and closing costs quoted by your specific lender, all of which vary by lender, credit profile and location. Rates change daily. Before committing to a home loan, compare official Loan Estimates from multiple lenders and consider consulting a licensed mortgage advisor or financial professional.