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Mortgage calculator

Compute your monthly mortgage payment, total cost and interest.

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Need Monthly payment, Total cost, Total interest? The Mortgage calculator derives it from Loan amount, Annual rate (%), Duration (years) in one step. For instance, with Loan amount = $250,000.00, Annual rate (%) = 3.5 and Duration (years) = 20 it returns Monthly payment = $1,449.90, Total cost = $347,975.83 and Total interest = $97,975.83.

How to use it

  1. Enter your values: Loan amount, Annual rate (%), Duration (years).
  2. Read the result instantly: Monthly payment, Total cost, Total interest.

Frequently asked questions

What does the Mortgage calculator actually compute?

It takes Loan amount, Annual rate (%) and Duration (years) and derives Monthly payment, Total cost and Total interest from them. The calculation is live as you type, so the result updates on every change.

What information do I need to provide?

3 values: Loan amount ($), Annual rate (%) and Duration (years). Nothing else is required — no account, no file upload.

Can you show a worked example?

With Loan amount = $250,000.00, Annual rate (%) = 3.5 and Duration (years) = 20, the calculator returns Monthly payment = $1,449.90, Total cost = $347,975.83 and Total interest = $97,975.83. Those figures come from running this exact tool, so you can reproduce them by entering the same values.

What happens if I enter larger values?

It moves a lot. Using Loan amount = $500,000.00, Annual rate (%) = 3.85 and Duration (years) = 40 instead, Monthly payment goes from $1,449.90 to $2,043.29 — which is why it is worth testing a few scenarios rather than trusting a single figure.

What does it give for smaller values?

Scaled down to Loan amount = $125,000.00, Annual rate (%) = 3.15 and Duration (years) = 10, Monthly payment comes out at $1,215.68. The relationship is worth checking at both ends before you rely on a single result.

When would I actually use this?

Before signing: checking whether the instalment fits the budget, comparing two offers at different rates and terms, and seeing what a shorter term really costs each month.

What is the most common mistake?

Comparing monthly instalments instead of total interest. A longer term always looks cheaper each month and costs more overall — the two figures move in opposite directions.

How accurate is it, and what are the limits?

Estimate only — not financial advice.

What is the difference between the Mortgage calculator and the Biweekly mortgage payment calculator?

This one returns Monthly payment and Total cost; the Biweekly mortgage payment calculator returns Standard monthly payment and Biweekly payment. That is the whole difference — open the one whose figure you need.

Is there a tool for the next step?

Boat loan calculator is the closest one after this: Estimate the monthly payment on a boat loan from the purchase price, down payment, trade-in, sales tax and APR. It works out the amount financed, the monthly payment, the total interest over the term and the total cost, so you can size a marine loan before you sign.

Further reading

All guides →
ExplainerHow Are Mortgage Payments Calculated?Your monthly mortgage payment comes from three things: the amount borrowed, the interest rate and the term. Here's the formula and what moves the number.ComparisonFixed vs Variable Rate Mortgage: Which Should You Choose?Compare fixed and variable rate mortgages on certainty, cost, and risk, and see which suits your budget, timeline, and tolerance for change.ExplainerHow Loan Payments Work: Amortization and Interest ExplainedSee how a fixed loan payment splits between principal and interest, how amortization shifts over time, and the formula behind the monthly number.ExplainerWhat Is the Maximum Debt-to-Income Ratio for a Mortgage?Understand the 33% to 43% debt-to-income limits lenders use, how they calculate the ratio, and what to do if yours is too high.ExplainerBiweekly Mortgage Payments: The Extra Payment Hiding in the ScheduleHalf the monthly payment every fortnight is 26 half-payments a year — 13 monthly payments, not 12. On $300,000 at 6 percent it saves $74,436, of which $73,666 comes from the extra payment and only $771 from the fortnightly frequency itself.ExplainerThe Two Numbers That Set Your Borrowing CapacityA lender does not decide how much you can borrow. A ratio decides a monthly payment, and an interest rate turns that payment into a principal. On $7,500 of income the two steps give $1,805 and $285,571 — and clearing one $280 debt adds $44,299.