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Real Estate

Mortgage Calculator

Understand what a home really costs
A mortgage is the largest financial commitment most people ever make. This calculator shows your monthly payment, total interest over the life of the loan, and the true cost of your home — factoring in price, down payment, rate, and term. Adjust any variable and see the impact instantly.

Calculate payments
What affects your rate

Sample breakdown

Estimated monthly payment

$1,771

$350K home · 20% down · 6.5% · 30 yrs

Total interest over 30 years

$357,735

True cost of the home

$637,735

The basics

Three numbers that define your break-even

Understanding these inputs is the difference between guessing and knowing your numbers.

Interest rate

A 1% difference on a $300K loan adds over $60K in interest over 30 years. Shopping rates is the single most profitable hour you’ll spend.

Down payment

20% down eliminates PMI (private mortgage insurance), saving $100-300/month. Below 20%, lenders require insurance that protects them, not you.

Loan term

A 15-year term cuts total interest by ~60% versus 30 years, but doubles monthly payments. The tool shows the exact tradeoff at your numbers.

Home price

Lenders use the 28/36 rule: housing ≤28% of gross income, total debt ≤36%. The calculator estimates the income needed for your target home.

Timeline

How your loan evolves over time

Mortgage payments aren’t flat — the principal-to-interest ratio shifts dramatically across the term.

Years 1-5
Building equity

Early payments go mostly to interest. Only 15-20% of each payment reduces your principal in these years.

Years 10-15
The tipping point

Around year 12 of a 30-year loan, you start paying more toward principal than interest each month.

Years 25-30
Equity acceleration

In the final years, 85%+ of each payment goes to principal. Your equity grows fastest right before payoff.

Money-saving insight

Making one extra payment per year toward principal on a 30-year $300K loan at 6.5% cuts 4.5 years off your term and saves $58,000 in interest. The calculator shows your base numbers — this strategy accelerates them significantly.

Start planning

Know your numbers before you talk to a lender

Enter the home price, what you can put down, and the rate you’ve been quoted. See the real cost in seconds.