Mortgage Calculator

Calculate your monthly mortgage payments, total interest, and view detailed payment breakdowns. Compare different loan scenarios to find the best mortgage option for your home purchase.

Loan Details

$
$
20%
Monthly Payment
$2,398
Principal & Interest
Loan Amount
$320,000
Total Interest
$543,280
Total Payment
$863,280
Interest Rate
6.5%

Mortgage Calculator Guide

Down Payment

A larger down payment reduces your loan amount and monthly payments. 20% down payment typically eliminates PMI requirements and gets better rates.

Interest Rates

Even small differences in interest rates can significantly impact your total payment. Shop around with multiple lenders for the best rates and terms.

Loan Terms

Shorter loan terms mean higher monthly payments but less total interest paid. Longer terms reduce monthly payments but increase total cost.