Estimate principal-and-interest from home price, down payment, rate, and term. Fully client-side — no account, uploads, or remote storage.
Added Apr 18, 2026 · Updated May 1, 2026
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Enter a value for home price to see your result.
Calculates the fixed monthly mortgage payment for a home purchase given the home price, down payment, interest rate, and loan term. Uses the standard amortization formula to show total cost and interest over the life of the loan.
Monthly = P × r / (1 − (1 + r)^(−n))
A $280,000 mortgage at 6.5% over 30 years has a monthly payment of ~$1,770. You pay roughly $357,000 in interest over the life of the loan.
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A 15-year term is more expensive monthly but saves substantial interest compared to 30 years.
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This calculator shows principal and interest only. Your actual monthly payment will also include property taxes, homeowner's insurance, and possibly PMI (private mortgage insurance) if your down payment is less than 20%.
On a $300,000 loan, dropping from 7% to 6% saves about $190/month and over $68,000 in total interest over 30 years. Even small rate differences matter significantly over a long term.
Principal-and-interest on a standard fixed-rate amortizing loan is level each month. If your bank statement changes, it is usually because taxes, insurance, or PMI are billed through escrow, not because the loan math changed.
Use it for planning and comparing scenarios. Your lender's Loan Estimate will include APR, points, fees, and underwriting rules that can shift the payment; treat this tool as a ballpark, not a binding quote.
Rounding per period, day-count conventions, and how partial first months are handled can create tiny differences from textbook amortization. Differences of a few cents are normal.