Mortgage Calculator

Select a currency, enter the home price and down payment, then provide the annual interest rate and amortization period. Choose monthly, weekly, biweekly, or an accelerated repayment plan.

Open Taxes, fees & extra payments to add closing costs, annual property tax, annual home insurance, monthly mortgage insurance, an HOA or recurring property fee, extra principal, and the first payment date.

The primary result is the estimated payment for the selected schedule. The breakdown separates scheduled principal and interest, extra principal, and optional housing costs.

Use the charts to inspect the payment mix and declining balance. The paginated amortization schedule shows each payment's principal, interest, extra principal, remaining balance, and loan-to-value.

The scheduled principal-and-interest payment repays the amount borrowed over the selected amortization period at the entered fixed rate.

Principal reduces the outstanding balance. Interest is the financing cost calculated from the remaining balance for each payment period.

Optional property tax, home insurance, mortgage insurance, and HOA or property fees are added to estimate a broader housing payment. They do not reduce the mortgage balance.

Extra principal increases the payment but reduces the balance sooner. Because future interest is calculated on a smaller balance, consistent extra payments can shorten the schedule and lower total interest.

The loan amount is the home price minus the down payment. Closing costs are treated as upfront costs and are not added to the loan balance.

For the monthly plan, the calculator applies the standard amortizing-payment formula using the monthly interest rate and the total number of monthly payments.

For weekly and biweekly plans, the calculator converts the monthly rate to an equivalent periodic rate so the same annual interest effect is preserved within this model.

Every payment first covers the period's interest. The remaining scheduled amount reduces principal, followed by any entered extra principal.

Regular biweekly and weekly plans divide the annual value of the standard monthly principal-and-interest payment across 26 or 52 payments.

Accelerated biweekly uses one half of the monthly principal-and-interest payment every two weeks. Accelerated weekly uses one quarter of the monthly amount every week.

Because accelerated plans produce about 13 monthly-payment equivalents each year, they normally repay principal faster than standard monthly payments when all other inputs remain unchanged.

Actual lender definitions, compounding rules, payment dates, and rounding can differ. Compare the estimate with the payment schedule in the loan offer.

The amortization period is the time used to repay the full balance under the assumed schedule. The calculator asks for this value in whole years.

In some markets, the mortgage term or fixed-rate period is shorter than the amortization period. The borrower may need to renew, refinance, or move to another rate before the loan is fully repaid.

This calculator assumes the entered interest rate remains unchanged for the full amortization period. It therefore does not predict renewal rates or future payment changes.

A longer amortization usually lowers the scheduled payment but increases total interest. A shorter amortization normally raises the payment and reduces the lifetime borrowing cost.

The down payment may be entered as a percentage of the home price or as a direct amount. The difference between the home price and down payment becomes the estimated loan amount.

A larger down payment reduces the amount financed and normally lowers both the scheduled payment and total interest.

The estimated upfront cash result adds the down payment and the closing costs entered in the calculator.

It is not a complete closing statement. Actual cash required can also be affected by deposits already paid, lender or seller credits, taxes, prepaid insurance, escrow funding, legal adjustments, grants, rebates, and costs financed into the loan.

Property tax and home insurance are entered as annual estimates and divided across the selected number of payments per year.

Mortgage insurance and HOA or recurring property fees are entered as monthly estimates and converted to the selected payment frequency.

These costs vary by property, lender, insurer, loan program, and location. They may be paid with the mortgage, through an escrow arrangement, or separately.

The calculator keeps every optional recurring cost constant until payoff. Update the inputs when evaluating a scenario with different future costs.

The extra-payment field accepts a monthly principal amount. The calculator converts that amount into an equivalent extra contribution for the selected payment frequency.

Extra principal is applied after the scheduled principal and interest. It does not replace the required scheduled payment.

The results compare the selected plan with the same loan paid through standard monthly principal-and-interest payments and no extra principal. This produces the displayed estimates for interest and time saved.

Before making real prepayments, check whether the lender limits additional payments, applies charges, or requires a specific instruction for directing money to principal.

Each row represents one payment period. The payment column includes principal, interest, extra principal, and the optional recurring costs entered in the calculator.

The principal column shows the amount reducing the balance. The interest column shows the financing cost for that period.

Loan-to-value divides the remaining loan balance by the unchanged entered home price. Estimated equity is the home price minus the remaining balance.

The schedule is paginated rather than rendering thousands of rows at once, which keeps weekly and long-term calculations responsive.

A mortgage estimate is only as accurate as its inputs and assumptions. Real lender calculations may use different compounding conventions, day-count methods, payment dates, fees, insurance rules, or rounding procedures.

The calculator does not use live mortgage rates, convert currencies, calculate APR, compare lenders, or test whether a borrower qualifies.

It also does not forecast changes in interest rates, property values, taxes, insurance premiums, income, exchange rates, or maintenance costs.

Use the estimate for scenario planning, then compare it with official lender documents and locally applicable requirements before making a financial commitment.

The mortgage calculation and amortization schedule are generated locally on your device. The entered prices, rates, dates, and fees are not sent to a calculation server.

The selected currency changes number formatting only. It does not convert values between currencies or fetch exchange rates.

Inputs may remain on the device through local browser storage so the user can return to a scenario. They are not added to the public page URL.