Use the Free Calculator
Try our free Mortgage Calculator for instant results.
Open Calculator →Overview
A mortgage is typically the largest financial commitment of your life. Understanding what you will pay — and how much goes to interest — helps make better decisions.
The Formula
Monthly = P × r(1+r)ⁿ ÷ [(1+r)ⁿ−1]
Standard formula used by professionals worldwide
Worked Example
Step-by-step
4,000,000 at 10% for 20 years → 38,601/month | Total interest paid = 5,264,240
Key Concepts
- Accuracy: Results are as accurate as the inputs you provide
- Units: Always use consistent units throughout your calculation
- Verification: Double-check important calculations before making decisions
- Professional advice: For major financial, health, or structural decisions, consult a qualified professional
Privacy and Security
- All calculations run entirely in your browser
- No data is sent to any server
- No sign-up or personal information required
- Your data stays private — always
Frequently Asked Questions
15 vs 30 year mortgage?
15-year saves enormous interest. 30-year has lower monthly payments.
What is amortization?
Gradual repayment shifting from mostly interest to mostly principal over time.
Do extra payments help?
Yes — paying extra reduces principal faster and saves significant total interest.