H1_Mortgage Calculator - Monthly Payment Estimator | MultiTool

Free mortgage calculator. Estimate your monthly payment, total interest and total cost for any home price, down payment, rate and term.

HOME PRICE ($)

DOWN PAYMENT ($)

ANNUAL INTEREST RATE (%)

TERM (YEARS)

MONTHLY PAYMENT

$1,516.96

LOAN$240,000.00

TOTAL PAID$546,106.77

TOTAL INTEREST$306,106.77

DOWN %20.0%

Note: this estimate excludes property taxes, insurance and fees, which vary by location. It is a guide, not a quote.

How it works

Free mortgage calculator. Estimate your monthly payment, total interest and total cost for any home price, down payment, rate and term.

Everything runs entirely in your browser. Nothing you type is ever sent to any server or stored.

How is the monthly payment calculated?+

With the standard amortization formula: principal x monthly rate x (1+rate)^n / ((1+rate)^n - 1), where n is the number of monthly payments.

What does the total interest mean?+

It is the difference between what you borrow and what you pay back over the full term — often more than the loan itself at high rates.

Does it include taxes and insurance?+

No — it estimates principal and interest only. Property taxes, insurance and fees vary by location.

What is a good down payment?+

20% avoids private mortgage insurance in many places, but lower down payments are common. The tool shows your down payment percentage.

Can I compare different terms?+

Yes — change the term (15, 20, 30 years) and rate to see how monthly payments and total interest change.

Is my data private?+

Yes — everything runs in your browser. Nothing is sent or stored.

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