FREE
Mortgage Calculator
Calculate your monthly home payment - 100% Free
Monthly Payment
$0
Principal & Interest$0
Loan Amount$0
Total Interest$0
Total Payment$0
How to Use This Free Mortgage Calculator
- Enter the home price - The total purchase price of the home.
- Input your down payment - 20% helps avoid PMI.
- Select your loan term - 15 or 30 years are common.
- Enter the interest rate - Check current rates from lenders.
This calculator is 100% free with no limits!
Mortgage Formula
M = P × [r(1+r)n] / [(1+r)n - 1]
- M = Monthly payment
- P = Principal loan amount
- r = Monthly interest rate
- n = Number of payments
Frequently Asked Questions
Is this mortgage calculator really free?
Yes! Our mortgage calculator is 100% free to use with no registration, no ads, and no limits. Use it as many times as you need.
How accurate is this calculator?
Our calculator uses the standard mortgage amortization formula used by banks and lenders. Results are estimates and actual payments may vary.
What is PMI?
Private Mortgage Insurance (PMI) is typically required when your down payment is less than 20% of the home price.