Mortgage Calculators
9 free mortgage tools
Work out what a house actually costs you — monthly, and over thirty years.
A mortgage quote gives you a monthly payment. It rarely tells you the total interest, how much of each payment goes to principal, or what an extra $200 a month would save you over the life of the loan. These calculators show all of it, including the taxes and insurance that turn a quoted payment into a real one.
Mortgage Calculator
Calculate your monthly mortgage payment including taxes, insurance and PMI.
Open calculatorAmortization Calculator
Generate a full month-by-month amortization schedule for any loan.
Open calculatorHome Affordability Calculator
Find out how much house you can afford based on income, debts and down payment.
Open calculatorMortgage Refinance Calculator
See your new payment, monthly savings and break-even point on a refinance.
Open calculatorMortgage Payoff Calculator
See how extra payments shorten your mortgage and slash total interest.
Open calculatorBiweekly Mortgage Calculator
See how biweekly payments shorten your mortgage and cut interest.
Open calculatorRent vs. Buy Calculator
Compare the total cost of renting versus buying a home over time.
Open calculatorDown Payment Calculator
Work out your down payment, loan amount and whether you'll need PMI.
Open calculatorMortgage Points Calculator
See whether buying discount points to lower your rate is worth it, and when it pays off.
Open calculator
The number that matters is total interest, not the monthly payment
Lenders compete on monthly payment because it is the number buyers compare. Stretching a loan from 15 to 30 years lowers the payment substantially while roughly doubling the interest paid. On a $400,000 loan, that difference is usually well over $150,000. Run both terms before you decide which one you can afford — affordability and total cost are different questions, and only one of them shows up on the quote.
Payment quotes usually leave things out
The figure a lender advertises is normally principal and interest only. Your actual monthly outgoing includes property tax, homeowners insurance, and — if your deposit is under 20% — private mortgage insurance. In high-tax states, taxes and insurance can add 30% or more on top of the quoted payment. Use the affordability calculator to work backwards from what you can genuinely pay each month, rather than forwards from what a lender is willing to approve.
Frequently Asked Questions
How much house can I afford?+
A common guideline is that total housing costs stay under 28% of gross monthly income and all debt under 36%. That is a starting point, not an answer — it ignores your other commitments, your job stability and local property taxes. Work from your actual budget rather than a lender's maximum.
Is it worth paying extra on my mortgage?+
Extra payments go entirely to principal, so they cut both the balance and the interest that accrues on it. Even one extra payment a year typically removes several years from a 30-year term. Whether it beats investing the same money depends on your rate versus your expected return after tax.
Should I refinance?+
Refinancing makes sense when the interest saved exceeds the closing costs within a period you will realistically stay in the home. Calculate the break-even month — costs divided by monthly saving — and compare it honestly with your plans.