Mortgage Calculator
What is a Mortgage?
A mortgage is a loan you take to buy a home. You pay back the loan amount plus interest over many years. Our free Mortgage Calculator helps you estimate your monthly mortgage payment, including principal and interest. It is very useful for home buyers to plan their budget before talking to a bank. Just enter your home price, down payment, interest rate, and loan term to get instant results.
How Down Payment Affects Your Mortgage?
Higher down payment means lower loan amount and lower monthly payment. Most banks require at least 20% down payment for the best interest rates. Use this tool to compare different scenarios.