Mortgage Calculator
Calculate monthly mortgage payments, total interest, and amortization schedule
+ Property Tax, Insurance & PMI (optional)
Monthly Payment (P&I)
$1,517
Loan Amount
$240,000
Total Interest
$306,107
Total Cost
$546,107
Amortization Schedule (30 years)
| Year | Begin Balance | Payment | Principal | Interest | End Balance |
|---|---|---|---|---|---|
| 1 | $240,000 | $18,204 | $2,683 | $15,521 | $237,317 |
| 2 | $237,317 | $18,204 | $2,862 | $15,341 | $234,455 |
| 3 | $234,455 | $18,204 | $3,054 | $15,150 | $231,401 |
| 4 | $231,401 | $18,204 | $3,258 | $14,945 | $228,143 |
| 5 | $228,143 | $18,204 | $3,477 | $14,727 | $224,666 |
| 6 | $224,666 | $18,204 | $3,709 | $14,494 | $220,957 |
| 7 | $220,957 | $18,204 | $3,958 | $14,246 | $216,999 |
| 8 | $216,999 | $18,204 | $4,223 | $13,981 | $212,776 |
| 9 | $212,776 | $18,204 | $4,506 | $13,698 | $208,270 |
| 10 | $208,270 | $18,204 | $4,808 | $13,396 | $203,463 |
| 11 | $203,463 | $18,204 | $5,130 | $13,074 | $198,333 |
| 12 | $198,333 | $18,204 | $5,473 | $12,731 | $192,860 |
| 13 | $192,860 | $18,204 | $5,840 | $12,364 | $187,021 |
| 14 | $187,021 | $18,204 | $6,231 | $11,973 | $180,790 |
| 15 | $180,790 | $18,204 | $6,648 | $11,556 | $174,142 |
| 16 | $174,142 | $18,204 | $7,093 | $11,110 | $167,049 |
| 17 | $167,049 | $18,204 | $7,568 | $10,635 | $159,481 |
| 18 | $159,481 | $18,204 | $8,075 | $10,128 | $151,405 |
| 19 | $151,405 | $18,204 | $8,616 | $9,588 | $142,790 |
| 20 | $142,790 | $18,204 | $9,193 | $9,011 | $133,597 |
| 21 | $133,597 | $18,204 | $9,809 | $8,395 | $123,788 |
| 22 | $123,788 | $18,204 | $10,465 | $7,738 | $113,323 |
| 23 | $113,323 | $18,204 | $11,166 | $7,037 | $102,156 |
| 24 | $102,156 | $18,204 | $11,914 | $6,289 | $90,242 |
| 25 | $90,242 | $18,204 | $12,712 | $5,491 | $77,530 |
| 26 | $77,530 | $18,204 | $13,563 | $4,640 | $63,967 |
| 27 | $63,967 | $18,204 | $14,472 | $3,732 | $49,495 |
| 28 | $49,495 | $18,204 | $15,441 | $2,763 | $34,054 |
| 29 | $34,054 | $18,204 | $16,475 | $1,728 | $17,579 |
| 30 | $17,579 | $18,204 | $17,579 | $625 | $0 |
Frequently Asked Questions
How is a monthly mortgage payment calculated?▼
Monthly payment = P[r(1+r)^n] / [(1+r)^n – 1], where P is the principal, r is the monthly interest rate, and n is the total number of payments.
What is included in a mortgage payment?▼
A basic mortgage payment includes principal and interest (P&I). Your actual payment may also include property taxes, homeowners insurance, and PMI (Private Mortgage Insurance) if your down payment is less than 20%.
How does the loan term affect my payment?▼
A longer loan term (e.g., 30 years vs 15 years) results in lower monthly payments but significantly more total interest paid over the life of the loan.
How to Use Mortgage Calculator
- 1Open the Mortgage Calculator tool above - it loads instantly in your browser.
- 2Enter your data or upload your file. Everything is processed locally on your device - nothing is uploaded to any server.
- 3Get your results instantly. Copy, download, or share - completely free with no signup required.
Mortgage Calculatoris part of BriskTool's collection of free online tools. All tools run entirely in your browser for maximum privacy and speed.