The Mortgage Calculator

Take the first step towards a lower mortgage rate, a simple mortgage calculator.

This Mortgage Calculator let’s you estimate what your monthly mortgage costs is for a given purchase price, interest rate, and amortization period.

Important Fields:

  • Estimated Monthly Mortgage Payment
  • Estimated Yearly Mortgage Payment
  • Total amount paid throughout the life of the loan (from start to finish)
  • Total interest paid.

It is important to pay close attention to the total loan amount paid over the life of a loan.  Why?  Because the total amount paid is usually much greater than expected.  Also, the total interest paid over the life a loan is eye opening when analyzing a mortgage.  What you will often find with a 30 year fixed mortgage is that you will pay more than 50% of your purchase price in interest.  You can really learn how a little difference in an interest rate, can make a HUGE difference in the total interest you pay.

Play around with the mortgage calculator below to learn what factors make a big difference in the total amount paid over the life of a loan.