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MortgageCalc Pro

Mortgage calculator

Your monthly payment, total interest, and payoff date — and exactly what extra payments save you. Down to the dollar.

Loan details

$

How much you're borrowing (between $1,000 and $10,000,000).

%

Annual rate (e.g., 6.5 for 6.5%).

years

Whole years (1–50).

Used to project your payoff date.

$

Additional principal you'll pay each month.

Adds the equivalent of one extra monthly payment per year.

Frequently asked questions

Quick answers to the questions most people have when they run a mortgage calculator for the first time.

  • What is a mortgage payment?
    A mortgage payment is the monthly amount you pay your lender on a home loan. The principal-and-interest portion is fixed for a fixed-rate loan, and is what this calculator shows. Property taxes, homeowners insurance, and HOA dues are extra and are usually added to the same monthly bill.
  • How does paying extra principal save money?
    Every extra dollar you put toward principal directly shrinks the balance that future interest is charged on. Because mortgages amortize, an extra payment in year one removes far more interest over the life of the loan than the same payment in year twenty. Even an extra $100 a month can shave years off a 30-year loan.
  • What is a biweekly payment schedule?
    Biweekly means you pay half of your monthly payment every two weeks. Because there are 26 biweekly periods in a year, that works out to 13 full monthly payments instead of 12. The extra payment goes entirely to principal, so a biweekly schedule typically pays off a 30-year mortgage about 4–6 years early.
  • Does this calculator include taxes and insurance?
    No. The monthly payment shown is principal and interest only — the part of the payment that pays down the loan. Property taxes, homeowners insurance, mortgage insurance, and HOA dues vary by location and lender, so they are not included.