Debt Payoff Calculator
See how long it takes to become debt-free and what a bigger payment saves you.
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Mortgage Calculator
Enter a home price, down payment, rate, and term to see your estimated monthly payment — plus what the loan really costs over time.
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How this calculator works
Your mortgage payment is calculated using standard amortization: each monthly payment covers that month's interest first, and the remainder reduces your loan balance. Early in the loan most of your payment goes to interest; over time that flips, and later payments are mostly principal.
The calculator shows the principal-and-interest portion of your payment. Your real monthly housing cost will also include property taxes and homeowners insurance, and possibly private mortgage insurance (PMI) and HOA fees.
What moves the number most
- Interest rate — even half a percent changes the total cost by tens of thousands of dollars over 30 years. Compare offers from multiple lenders.
- Loan term — a 15-year loan has higher payments but dramatically less total interest than a 30-year loan.
- Down payment — putting 20% down avoids PMI and lowers every payment after it.
A quick affordability check
A common guardrail is to keep your total monthly housing cost — payment, taxes, and insurance — at or below 28% of your gross monthly income. If the payment shown here plus estimated taxes and insurance is above that line, consider a lower price range, a larger down payment, or a different term.