Mortgage Calculator
Estimate your monthly mortgage payments, total interest, and amortization schedule.
Perfect for home buyers, refinancers, and real estate investors.
Mortgage Summary
Monthly Payment
$1,432
Total Interest
$215,608
Total Cost
$515,608
Payoff Date
May 2053
Payment Breakdown
Amortization Schedule
| Year | Interest | Principal | Balance |
|---|
How to calculate reverse mortgage
Our comprehensive mortgage calculator helps you estimate your monthly home loan payments, total interest costs, and complete amortization schedule. Whether you're buying a new home, refinancing an existing mortgage, or comparing loan options, this tool provides valuable financial insights.
Key Features:
- Purchase & refinance calculations - compare different loan scenarios.
- Detailed payment breakdown - see principal, interest, taxes, insurance, and more.
- Amortization schedule - view year-by-year payment allocation.
- Adjustable parameters - customize down payment, loan term, interest rate, etc.
- Additional costs - include property taxes, insurance, PMI, and HOA fees.
- Visual charts - understand your payment composition at a glance.
How much house can i afford with 100k salary?
- Enter your annual income (we've pre-filled $100,000 but you can adjust it).
- Add your monthly debts (car payments, credit cards, student loans).
- Select your preferred loan terms (30 year, 15 year, or FHA).
- Input your available down payment amount.
- Include property taxes, insurance, and HOA fees for your area.
- Click "Calculate Affordability" to see your personalized results.
- Review your maximum home price range and ideal budget zone.
- See monthly payment breakdown including principal, interest, and other costs.
- Get tips to improve affordability (increase down payment, reduce debts, etc.).
- Adjust interest rates or loan terms to compare different scenarios.
How to use Mortgage calculator:
- Determine affordability when buying a home
- Compare different loan terms (15-year vs. 30-year mortgages)
- Evaluate refinancing options to save money
- Understand how extra payments affect your loan
- Plan your housing budget with accurate payment estimates
Pro Tip:
Even a small reduction in interest rate can save you thousands over the life of your loan. Consider making biweekly payments (half your monthly payment every 2 weeks) to pay off your mortgage faster and save on interest.
Mortgage Calculator Answers
What does the mortgage calculator do?
The mortgage calculator estimates your monthly mortgage payments based on your loan amount, interest rate, term, and optional inputs like down payment, taxes, and insurance.
Does it include property taxes and insurance?
Yes. You can optionally include annual property taxes, homeowners insurance, and PMI to get a more accurate estimate of your total monthly payment.
How accurate are the results?
While the calculator provides a close estimate, actual loan terms and monthly costs may vary based on lender-specific fees, local taxes, and your credit profile.
Can I compare loan terms?
Yes. Try entering different interest rates or loan durations to compare monthly payments and total interest paid over time, helping you choose the best mortgage option.