Mortgage calculator
From the price of the home to the monthly payment.
Examples temporarily replace the input and settings. You can restore your previous work.
Your files stay on your device
This tool runs entirely in your browser. What you paste is processed on your device and is never sent to a server, so it is safe to use with tokens, keys and unpublished text.
Example
Worked example — Mortgage calculator
Use the following inputs and settings. Keep other settings at the page defaults.
| Item | Value |
|---|---|
| What for | A home (price and down payment) |
| Home price | 300000 |
| Down payment (amount or %) | 20% |
| Interest rate (% a year) | 5 |
| Over | 30 years |
| Currency | US dollars |
| Output | Every month $1,288.37 |
| Output | Home price $300,000.00 |
| Output | Down payment $60,000.00 (20%) |
| Output | Borrowed $240,000.00 |
| Output | Loan-to-value 80% |
| Output | Interest rate 5% a year |
Expected result — Every month $1,288.37
How it works
- Type the home price and the down payment, as an amount or a percentage such as 20 %.
- Set the interest rate and the term, then read the monthly payment and the amount borrowed.
- Look at the schedule, and add an extra monthly payment to see how much sooner it is paid off.
Frequently asked questions
- How is the monthly payment worked out?
- With the standard amortisation formula: the amount borrowed (price minus down payment), the yearly rate divided by 12, and the number of monthly payments. Each payment is the same; early on most of it is interest.
- How much down payment do I need?
- It depends on the lender and the country; 20 % is a common benchmark, and less often means a higher rate or mortgage insurance. Try a few amounts to see how the payment changes.
- Does it include taxes and insurance?
- No — only the loan itself. Property tax, home insurance, mortgage insurance and fees come on top, so add them to the monthly figure for a full budget.
- What does paying extra save?
- Every extra payment goes against the balance, so less interest is charged from then on. The result shows how many months earlier the loan ends, and the total interest comes down with it.
- Is anything sent anywhere?
- No. It is worked out in your browser.
Related tools
¥ Loan repayment calculator The payment, and where it actually goes. ⤴ Compound interest calculator What a lump sum and a monthly deposit grow to, year by year. % VAT calculator VAT added or taken out, for one price or a whole list. ％ Percentage and discount calculator Discounts, markups, shares and changes, typed the way you would say them.