Free Mortgage Calculators
Buying a home is likely the largest financial decision you will make. Getting the numbers right upfront — monthly payment, total interest paid, how much house you can actually afford — determines whether the purchase sets you up financially or stretches you thin. These calculators give you the exact figures before you talk to a lender.
Start with the Mortgage Calculator to see your monthly payment and full amortization schedule. Enter any loan amount, interest rate, and term to see exactly how much you will pay each month, how much goes to interest versus principal, and your total cost over the life of the loan.
If you are still in the early stages, the Home Affordability Calculator shows the maximum purchase price you can support based on your income, existing debts, and down payment. It applies standard lender debt-to-income ratios so you walk into preapproval conversations knowing your realistic range.
Mortgage calculators
Mortgage Calculator
Calculate monthly payments, total interest, and full amortization for any home loan.
Refinance Calculator
Compare your current mortgage to a new loan and find out how long until you break even on closing costs.
Mortgage Payoff Calculator
See how extra payments reduce your loan term and total interest paid.
PMI Calculator
Calculate your private mortgage insurance cost and when you can remove it.
Mortgage Points Calculator
Find out if buying discount points to lower your rate is worth it based on your break-even timeline.
Bi-Weekly Mortgage Calculator
Calculate how switching to bi-weekly payments saves interest and cuts years off your mortgage.
Down Payment Calculator
Calculate how long it will take to save your target down payment based on your monthly savings rate.
Loan Comparison Calculator
Compare two mortgage offers side by side — monthly payment, total interest, and break-even point.
Understanding mortgage math
Mortgages are amortizing loans — each payment covers both interest and a slice of principal. In the early years, interest makes up the bulk of each payment because the outstanding balance is highest. As you pay down principal, the interest portion shrinks and the principal portion grows, even though your total payment stays the same.
A 30-year mortgage at 7% on a $400,000 loan costs $214,858 in interest over the life of the loan — more than half the original balance paid purely in interest. Dropping to a 15-year term nearly halves the total interest paid, though the monthly payment rises by roughly 40%. Running both scenarios in the Mortgage Calculator makes this trade-off concrete.
Points (discount points) let you buy down the interest rate by paying an upfront fee. One point costs 1% of the loan amount and typically reduces the rate by 0.25%. Whether points are worth it depends on how long you keep the loan — divide the upfront cost by the monthly savings to find your break-even month.