Principal and interest
The monthly payment covers the loan: one portion pays interest and another reduces the outstanding balance.
Real Estate
Mortgage calculator
Estimate a mortgage’s monthly payment, total paid, interest and month-by-month amortization.
Main simulation
How much will I pay each month?
Enter the price and down payment, or enter the loan amount directly. Extra payments are optional.
Input type
Enter down payment as
%
%
Publicidad
Amortization schedule
See how much of each payment goes to principal, interest and the outstanding balance. Twelve months are shown per page.
The table will appear after you enter a valid mortgage.
| Month | Payment | Principal | Interest | Outstanding balance |
|---|
What this calculator shows
The result is a mortgage estimate that helps compare scenarios before speaking with a lender.
Excluded costs
Insurance, taxes, appraisals, notary fees, commissions and other charges are not included in this estimate.
Extra payment
If you add a monthly extra payment, the schedule ends when the balance reaches zero and adjusts the final payment.
Calculation example
For a $2,000,000 loan over 20 years at a 9% annual rate, the estimated payment is $17,994.52. The total paid would be approximately $4,318,684.59, of which $2,318,684.59 would be interest.
How to read the amortization schedule
At first, a larger portion of each payment goes to interest. Over time, the portion reducing principal increases. Extra payments reduce the balance faster and may lower total cost.
Frequently asked questions
How is a mortgage's monthly payment calculated?
A fixed-payment amortization formula is used. The annual rate is divided by 12 and applied to the outstanding balance; each payment covers interest first and then principal.
What is an amortization schedule?
It is the month-by-month breakdown of each payment: how much goes to interest, how much reduces principal and the remaining balance.
What does this calculator's payment include?
The calculated payment includes loan principal and interest. It excludes insurance, taxes, notary fees, appraisals, bank fees and other purchase costs.
How much down payment do I need for a mortgage?
It depends on the lender, property price and borrower profile. This calculator lets you test different percentages or amounts to see how the loan changes.
Is a shorter or longer term better?
A shorter term usually reduces total interest but raises the monthly payment. A longer term lowers the monthly payment but normally increases total cost.
What happens if I make extra payments?
The monthly extra payment is applied after the month's interest and directly reduces the balance. This can shorten the term and save interest.
Does the calculator include insurance, taxes or fees?
No. It estimates only mortgage principal and interest. Review actual costs with the lender, closing professionals and applicable authorities.