Mortgage Calculator

A listing price is not the amount you borrow. Mortgage Calculator subtracts the down payment, then estimates the fixed monthly principal-and-interest payment.

What goes into the payment

You enter the property price, the down payment, the annual interest rate, and the term in years. Principal is price minus down payment. The term is turned into months by multiplying years by 12 and rounding. The payment uses the standard fixed-rate formula: monthly rate is the annual percent divided by 12, and the payment is level for every month. A zero rate splits the principal evenly across those months. The result lists principal, monthly payment, month count, total paid, and total interest. EMI Calculator starts from a loan amount you already know, without a purchase price.

What is left out of the estimate

The lines on the page say the estimate excludes taxes, insurance, and fees. There is no field for property tax, homeowners insurance, mortgage insurance, HOA dues, or points. Extra principal payments are not modeled, so you cannot see an early payoff here. The rate is fixed for the whole term. An adjustable rate will not match this number after the first period. Amortization Schedule Calculator is the place for a month-by-month table. Loan Calculator is the same payment math when you already know the amount borrowed. Compound Interest is for savings growth, not a home loan.

What this tool will not do

It will not approve a loan, pull a live rate, or compare lenders. Down payment must be zero or more and strictly less than the price. A down payment equal to the price is rejected because there is nothing to amortize. The term field steps in half years, not in months. Figures stay in this browser. Simple Interest Calculator uses a different, non-amortizing formula, so do not use it for a mortgage payment.