US Mortgage Calculator

Calculate monthly mortgage payments, total interest, and view your amortization schedule.

Home Price ($)

Down Payment (%)

Interest Rate (%)

Loan Term

परिणाम

Enter values and click Calculate to see results.

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Written by the EachTools Team

Last updated: January 2026

How Mortgage Calculations Work

A mortgage is a loan used to purchase real estate. The calculator determines your monthly payment based on the loan amount, interest rate, and loan term using the standard amortization formula.

Formula

M = P [ i(1+i)^n ] / [ (1+i)^n – 1 ]
Where: M = monthly payment, P = loan principal, i = monthly interest rate, n = number of payments

Steps

Enter the home price and down payment percentage to get the loan amount.
Input the annual interest rate (e.g., 6.5 for 6.5%).
Select the loan term (15 or 30 years are most common).
Click Calculate to see your monthly payment, total interest, and total cost.

Example

For a $400,000 home with 20% down ($320,000 loan) at 6.5% for 30 years: Monthly payment = $2,023. Total interest paid = $408,281.