Mortgage Calculator
Monthly payment, total interest, and total repayment — plus how much an extra monthly payment saves you.
Private by design: everything runs in your browser. Nothing is uploaded. Uses the standard amortizing formula; this is an estimate, not financial advice.
How it works
- Enter the loan amount, annual interest rate and term in years.
- Your monthly payment, total interest and total repayment appear instantly.
- Add an extra monthly payment to see how much interest you save and how much sooner the loan ends.
FAQ
How is the monthly payment calculated?
With the standard amortizing formula M = P × r × (1+r)n / ((1+r)n − 1), where r is the monthly rate and n the number of payments. It assumes a fixed rate and equal monthly payments.
Does this include taxes and insurance?
No — the result is principal and interest only. Property tax, homeowner's insurance and PMI/HOA are not included; add them to the monthly figure for your full housing cost.
Why does a small extra payment save so much?
Extra payments go straight to the principal, which shrinks the balance that future interest is charged on. The effect compounds over the life of the loan.