Mortgage calculator
Enter your numbers — the results update instantly.
Loan amount240,000
Monthly payment1,516.96
Total interest306,106.77
Formula
M = P · i / (1 − (1 + i)⁻ⁿ)
Worked example
Given: Home price = 300,000; Down payment = 20 %; Annual rate = 6.5 %; Term (years) = 30
Result: Loan amount = 240,000; Monthly payment = 1,516.96; Total interest = 306,106.77
How it is calculated
1. Enter the values you know. 2. The calculator converts them to base units and applies the formula. 3. The result is shown in the unit you choose.
Frequently asked questions
How do I calculate it?
Formula: M = P · i / (1 − (1 + i)⁻ⁿ). Given: Home price = 300,000; Down payment = 20 %; Annual rate = 6.5 %; Term (years) = 30. Result: Loan amount = 240,000; Monthly payment = 1,516.96; Total interest = 306,106.77.
Is the calculator free and private?
Yes. It is free, needs no sign-up and runs in your browser — the numbers you type stay on your device.