Mortgage payment calculator
Enter the loan, rate and term — instantly see your monthly payment, total cost and how much is interest.
- Free, no sign-up
- Balance chart included
- See the true cost
Monthly payment
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Total interest
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How your debt shrinks
Remaining balance at the end of each year.
How is the monthly payment calculated?
A mortgage is repaid in equal monthly payments (annuity). Early on, most of the payment goes to interest and little to principal; over time it flips. That is why overpaying early or refinancing can save a lot of interest.
Monthly payment formula
M = P·r·(1+r)ⁿ / ((1+r)ⁿ − 1) P = loan, r = monthly rate, n = number of months.
This is the lite version. Plan it for real in Assetli
The calculator gives a quick payment. The full mortgage calculator shows how to pay less — for free.
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How it works
Three steps
Enter the loan
The amount you want to borrow.
Set rate and term
Interest rate and years to repay.
See the payment
Monthly payment, total cost and interest.
Frequently asked questions
How is the mortgage payment calculated?
With the annuity formula M = P·r·(1+r)ⁿ / ((1+r)ⁿ − 1), where P is the loan, r the monthly rate and n the number of months. The payment stays constant for the whole term.
Why is so much of the early payment interest?
Interest is charged on the outstanding balance, which is highest at the start. As you repay principal, the balance drops and more of each payment goes to principal.
Does it include fees and insurance?
No — this lite version shows the principal-and-interest payment. Fees, insurance, extra payments and refinancing are in the full mortgage calculator in Assetli.
Is the calculator free?
Yes, completely free and it runs in your browser without signing up. Nothing you enter is sent anywhere.