Enter the home price, down payment, interest rate, and loan term to estimate your mortgage payment. Add an extra monthly payment to see how much sooner the loan may end and how much interest may be saved.

This calculator uses one fixed interest rate for the full term. Your real mortgage may also include taxes, insurance, fees, or changing rates.

Easy examples

Example 1: A home costs 300,000 with 20% down, 6.5% annual interest, and a 30-year loan. The calculator shows the estimated monthly payment and total interest.

Example 2: Add an extra 200 per month to estimate how much earlier the mortgage may end and how much interest may be saved.

What is an extra mortgage payment?

An extra payment is money paid in addition to the regular monthly payment. When applied to principal, it may reduce future interest and shorten the loan.

Example: if the regular payment is 1,500 and you pay 1,700, the extra payment is 200 per month.

Important note

This estimate includes principal and interest only. It does not include property tax, home insurance, mortgage insurance, closing costs, lender fees, or adjustable interest rates.

Check whether your lender applies extra payments directly to principal and whether early-payment fees apply.

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