Estimate your monthly mortgage payment in seconds. Enter the home price, your down payment, interest rate and loan term to instantly see your payment plus the total interest you will pay over the life of the loan.
This result estimates principal and interest. Your total housing payment may also include tax, insurance, fees and maintenance.
A visual summary that updates with your calculation.
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ToolMortgage with Taxes, Insurance & PMIAdd tax, insurance, PMI and HOA to estimate the full monthly housing cost.Open tool →
ToolMortgage Recast CalculatorEstimate a new payment after a principal lump sum using the remaining term.Open tool →
Guide36 vs 60 Month LoanCompare monthly payment, total interest and total repayment across two terms.Open guide →Compare two scenarios and export the current calculation.
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These fixed examples answer common searches and show principal-and-interest estimates only. Property tax, insurance, mortgage insurance, maintenance and lender fees are excluded.
The estimated monthly principal-and-interest payment is $1,798.65. Total scheduled interest is about $347,514.57.
A 20% down payment is $60,000, leaving a $240,000 principal. The estimated 30-year payment is $1,438.92 per month.
The estimated payment is $2,531.57 for 15 years and $1,798.65 for 30 years. The shorter term has the higher payment but much lower scheduled interest.
The estimated monthly payment changes from $1,703.37 at 5.5% to $1,896.20 at 6.5%, before excluded housing costs.
This calculator gives an instant estimate from the values entered above. Use the result as a planning starting point, then review the assumptions and limitations.
Enter the requested values using consistent units. Change one input at a time when comparing scenarios, and verify every value before using the result.
The estimate uses the values currently entered and the formula described on this page. Any fees, taxes, timing rules or personal circumstances not requested are excluded.
For a fixed-rate repayment mortgage, the calculator estimates monthly principal and interest from the loan amount, annual interest rate and term.
M = P × [r(1+r)^n] ÷ [(1+r)^n − 1], where P is principal, r is the monthly rate and n is the number of monthly payments.
A $300,000 loan at 6% a year for 30 years gives an estimated principal-and-interest payment of about $1,799 per month.
The result is the scheduled principal-and-interest payment. A lower rate or longer term lowers the payment, although a longer term can increase total interest.
The interest rate is treated as an annual nominal rate divided by 12. Property tax, insurance, mortgage insurance, association charges, closing costs, points and variable-rate changes are not included unless a field explicitly adds them. Currency symbols are display units only. This is an estimate, not a lender quote.
Method reference: Consumer Financial Protection Bureau: estimating an affordable mortgage payment. Fynzo explains and implements the calculation independently; the linked organization does not endorse this website.
Reviewed by: Yasser Chahir, Fynzo editor. Last reviewed: July 31, 2026.
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