Mortgage Calculator
Calculate your monthly mortgage payment instantly. See exactly how much you'll pay in principal, interest, taxes, and insurance.
$85,000
Estimated Monthly Payment
$2,715.70
for 30 years at 6.5% interest
$340K
80% of home price
$434K
56.1% of payments
$774K
Principal + Interest
2056
360 payments
Instant Results
Get your monthly payment estimate in seconds
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Comprehensive Breakdown
See principal, interest, taxes, PMI & HOA fees
How to Use This Mortgage Calculator
Estimated Monthly Payment: Your total monthly housing cost including principal, interest, taxes, insurance, and any PMI or HOA fees.
Amortization Schedule: Shows how each payment is divided between principal and interest over time. Early payments are mostly interest; later payments build equity faster.
Total Interest: The total amount you'll pay in interest over the life of the loan. A shorter term or larger down payment reduces this significantly.
Comparing Loan Terms: 15-Year vs 30-Year Mortgage
| Feature | 15-Year Mortgage | 30-Year Mortgage |
|---|---|---|
| Monthly Payment | Higher | Lower |
| Interest Rate | Typically 0.5-1% lower | Higher than 15-year |
| Total Interest Paid | Much less | Significantly more |
| Equity Building | Faster | Slower |
| Best For | Those who can afford higher payments | Those who need payment flexibility |
Frequently Asked Questions
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