Home buying
Mortgage calculator
Adjust the home price, down payment, interest rate, and amortization to estimate your monthly payment and total interest.
Estimated monthly payment
$3,722
per month
- Mortgage amount
- $640,000
- Down payment
- $160,000
- Total interest
- $476,682
- Total payments
- $1,116,682
Estimate only — not a loan offer. Actual payments may vary with mortgage insurance, fees, and lender terms.
A mortgage payment is only part of the budget
Alongside principal and interest, plan for property tax, home insurance, utilities, maintenance, condominium fees, and closing costs. A lender’s maximum approval is not necessarily the budget that best fits your household.
Compare the rate and the mortgage terms
The full borrowing cost also depends on the term, amortization, payment frequency, prepayment privileges, and early-break charges. Use this calculator for an initial comparison, then confirm suitable options with a lender or licensed mortgage professional.
Understand the estimate and your next step
This tool estimates payments and interest from the price, down payment, rate, and amortization you enter. It is not a mortgage pre-approval or commitment. Actual payments can differ because of insurance, taxes, lender terms, and qualification review.