Mortgage calculator
Type the amount you’re borrowing, the yearly rate, and how many years. You get the monthly payment, what you’d pay in total, and how much of that is interest. Taxes and insurance are not in this.
Switches the symbol. The number you typed stays put.
$
%
Result
Monthly payment
$2,022.62
Total paid
$728,143.20
Interest paid
$408,143.20
Here’s one
$320,000 at 6.5% for 30 years
Borrow $320,000 at 6.5% for 30 years and the monthly payment is $2,022.62. That’s principal and interest. The tax and insurance bill is extra.
How it works
We turn the yearly rate into a monthly one and spread the loan over every month of the term. The payment stays the same each month. Early on, most of it is interest.
Good for
Comparing a rate or a 15-year versus a 30-year, before a lender adds the escrow stuff.
If you’re wondering
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Just the math
Handy for a quick number. It isn’t tax, money, or medical advice.