Financial Tool

Mortgage Calculator

Estimate your monthly mortgage payments, examine principal vs. interest ratios, and view year-by-year amortization schedules. Fully client-side.

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Estimated Monthly Payment

$1,769.82

Principal vs Int. 50% / 50%
Total Principal

$280,000

Total Interest

$357,135

Annual Amortization Schedule

Year Principal Paid Interest Paid Total Paid Remaining Balance

How to Use the Mortgage Calculator

Enter the total home price and your down payment amount. Select your interest rate and the duration of your loan. The calculator will immediately output your monthly payment (excluding property taxes or PMI fees) and generate a year-by-year schedule of principal reductions.

Understanding the Amortization Formula

Mortgage payments are calculated using the following standard constant payment formula:

M = P * [ r(1 + r)^n ] / [ (1 + r)^n - 1 ]

Where M is the monthly payment, P is the principal loan amount, r is the monthly interest rate (annual interest rate divided by 12 months), and n is the total number of payments (loan term in years multiplied by 12).