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🏠 Mortgage Calculator
If you have ever opened a mortgage statement and wondered why a $2,000 payment only knocked $300 off the balance, this calculator is the explanation. Plug in loan amount, rate, and term. We show the monthly P&I, the lifetime interest cost (usually more than the original loan), and the full amortization table so you can see exactly when the math finally tilts in your favor — somewhere around year 18 on a 30-year loan, principal finally beats interest in each payment.
Examples
$320,000 loan @ 7% × 30yMonthly: $2,129 · Total interest: $446,428$320,000 loan @ 6.5% × 15yMonthly: $2,788 · Total interest: $181,81515-year payment is higher but saves $260k+ in interest.
$200,000 loan @ 6.8% × 30yMonthly: $1,304 · Total interest: $269,400Frequently asked questions
What costs are NOT included in the payment?
Property tax, homeowners insurance, HOA fees, and PMI (private mortgage insurance, usually required if down payment is under 20%). Add these on top of the principal + interest payment shown.
What is PMI and how do I avoid it?
PMI protects the lender if you default. Typically 0.5–1% of the loan annually. Avoid it by putting 20% or more down, or by choosing a loan program that does not require it (some VA / physician loans).
How much does the interest rate matter?
Massively. On a $400k 30-year loan, every 1% rate change shifts the monthly payment by roughly $250 and total interest by ~$90k.
Should I get a 15-year or 30-year?
15-year saves enormous interest and builds equity faster, but the monthly payment is roughly 30% higher. Pick based on whether the higher payment fits your budget with margin for emergencies.
Can extra principal payments help?
A lot. An extra $200/month on a $400k 30-year at 7% can shave ~6 years off and save ~$130k in interest. Make sure to specify "apply to principal" so the lender does not just count it as next month's payment.
About this calculator
Mortgage Calculator runs entirely in your browser using standard formulas. No data is sent to any server. We don't share your inputs with lenders, brokers, or anyone else — there's no funnel and no follow-up email.
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Why this calculator
vs typical free finance-calculator sites
| RichCalcs | Typical free site | |
|---|---|---|
| Price | Free | Free |
| Signup required | No | Often (for full results) |
| Ads inside the calculator | No | Yes (banner + sidebar) |
| Lead capture (email / phone) | No | Yes — sold to lenders |
| Data sent to server | No (browser-only) | Yes (analytics + tracking) |
| Amortization schedule | Full table | Often summary only |
| Bookmarkable URL per calc | Yes | Mixed |
| Loads in under 1s | Yes (static) | Often slow (ad tracking) |
| Open source | Yes | No |