Calculator
Mortgage Calculator
Calculate monthly mortgage payments, total interest, and view detailed amortization schedule.
🏠
Mortgage Calculator
Calculate your monthly mortgage payment and see how much interest you'll pay over the life of your loan.
📋Loan Details
20.0% of home price
Common terms: 15, 20, or 30 years
Annual percentage rate (APR)
💵Your Monthly Payment
$1,770
per month
Loan Amount
$280,000
Total Interest
$357,125
Total Paid
$637,125
Number of Payments
360
📊Payment Breakdown
44%
56%
Principal
Interest
Principal (Original Loan)
$280,000
What you borrowed
Interest (Cost of Loan)
$357,125
Total interest over 30 years
📅First Year Preview
1
Month 1
Principal: $253.12 | Interest: $1,516.67
$279,747
remaining
2
Month 2
Principal: $254.49 | Interest: $1,515.30
$279,492
remaining
3
Month 3
Principal: $255.87 | Interest: $1,513.92
$279,237
remaining
4
Month 4
Principal: $257.25 | Interest: $1,512.54
$278,979
remaining
5
Month 5
Principal: $258.65 | Interest: $1,511.15
$278,721
remaining
6
Month 6
Principal: $260.05 | Interest: $1,509.74
$278,461
remaining
7
Month 7
Principal: $261.45 | Interest: $1,508.34
$278,199
remaining
8
Month 8
Principal: $262.87 | Interest: $1,506.92
$277,936
remaining
9
Month 9
Principal: $264.29 | Interest: $1,505.50
$277,672
remaining
10
Month 10
Principal: $265.73 | Interest: $1,504.06
$277,406
remaining
11
Month 11
Principal: $267.17 | Interest: $1,502.62
$277,139
remaining
12
Month 12
Principal: $268.61 | Interest: $1,501.18
$276,870
remaining
💡Mortgage Tips
- 20% down payment helps avoid PMI (Private Mortgage Insurance) and gets better rates
- Shorter loan terms (15-year) save significant interest but have higher monthly payments
- Compare rates - Even 0.5% difference can save tens of thousands over the loan
- Extra payments toward principal can dramatically reduce total interest paid
- Factor in property taxes, insurance, HOA fees, and maintenance costs