Mortgage Calculator
Calculate your monthly mortgage payment, total interest paid, and view a full year-by-year amortization summary. Your data never leaves your device.
Currency
Loan Details
$
$5.00M
$
%
$1.00M (20.0% of home price)
% p.a.
Monthly Payment
$34,713
20 years · 8.5% p.a. · $4.00M loan
Total Payment
$9.33M
$9,331,103
Total Interest
$4.33M
$4,331,103
Loan Amount
$4.00M
Down Payment
$1.00M
20.0% of home price
Principal48.0%Interest52.0%
Amortization Summary
Year-by-year breakdown — first 5 years + final year
| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| Year 1 | $79,609 | $336,946 | $3.92M |
| Year 2 | $86,646 | $329,909 | $3.83M |
| Year 3 | $94,305 | $322,251 | $3.74M |
| Year 4 | $102,640 | $313,915 | $3.64M |
| Year 5 | $111,713 | $304,842 | $3.53M |
| ··· | |||
| Year 20 | $397,994 | $18,561 | $0 |
Formula: M = P[r(1+r)^n] / [(1+r)^n - 1], where P is principal, r is monthly interest rate, and n is number of months. Values shown are estimates and do not include property tax, insurance, or maintenance costs.
Frequently Asked Questions
- Is this mortgage calculator free?
- Yes, 100% free. No account, no data upload, no hidden fees.
- What formula is used to calculate the monthly payment?
- The standard mortgage formula: M = P × [r(1+r)^n] / [(1+r)^n - 1], where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments.
- How are down payment amount and percentage linked?
- They are synced — change the down payment amount and the percentage updates automatically, and vice versa. This makes it easy to explore different scenarios.
- Does the calculator include taxes and insurance?
- No. The monthly payment shown covers only principal and interest. Property tax, homeowner insurance, and HOA fees are not included. Add those separately to get your total monthly housing cost.
- What does the amortization table show?
- The table shows a year-by-year breakdown of principal paid, interest paid, and remaining loan balance — for the first 5 years and the final year of the loan.
- Does it work on mobile?
- Yes, works on all modern browsers including mobile Safari and Chrome on iOS and Android.