Mortgage Calculator

A mortgage payment depends mainly on three numbers: how much you borrow, the interest rate, and how many years you take to repay it. A longer term lowers the monthly payment but raises total interest, while a shorter term does the opposite.

This tool works out the monthly payment for principal and interest only, plus total payment and total interest, so you can compare terms side by side before you talk to a lender.

How to Use This Tool

1. Enter your loan amount: type the amount you plan to borrow.
2. Enter your annual interest rate: type the rate as a percent, for example 6.5.
3. Enter your loan term in years: type a term like 30 or 15.
4. Click Calculate Payment: read the monthly payment, total payment and total interest.

Good Practice Tips

• Compare terms: run the same loan at 15 years and at 30 years to see the interest difference.
• Remember extra costs: taxes, insurance and fees are not in this estimate, so your real monthly bill may be higher.
• Check the rate type: a fixed rate stays the same, while a variable rate can change over the loan term.
• This is not loan advice: use the result for planning only, and confirm real terms with a lender.