Mortgage Calculator
What will the house really cost? Enter the loan details to see your monthly payment, total interest, and payoff date.
Loan details
Your loan at a glance
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Monthly payment (P&I)
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Total interest
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True cost of the home
| Amount | |
|---|---|
| Loan amount | – |
| Payoff date | – |
| Interest as % of loan | – |
Balance over time
Principal & interest only — taxes, insurance, and HOA are extra. Assumes a fixed rate for the full term.
Common questions
15-year vs 30-year — which is better?
A 15-year loan has a higher payment but far less total interest — often half. A 30-year loan costs more overall but keeps monthly payments manageable. Run both above to compare.
Does a bigger down payment help?
Yes three ways: smaller loan, lower payment, and 20%+ down avoids private mortgage insurance (PMI).
Should retirees carry a mortgage?
It depends on your rate vs what your savings earn, and whether the payment fits your fixed income. Many advisors suggest entering retirement debt-free if you can.