About This Calculator
Use our free mortgage calculator to instantly calculate your monthly mortgage payment for any US home loan. Works for 30-year fixed, 15-year fixed, and other terms. Enter your home price, down payment, interest rate and loan term to see your exact monthly payment, total paid and total interest.
All calculations are performed instantly in your browser — no sign-up, no ads blocking your results, completely free to use.
Frequently Asked Questions
What is the monthly payment on a $300,000 mortgage?+
A $300,000 mortgage at 7% interest on a 30-year fixed term = approximately $1,996/month (principal and interest only, excluding taxes and insurance).
What is the current 30-year mortgage rate?+
Use our mortgage calculator with your lender's quoted rate to get an accurate monthly payment estimate. Rates change daily based on market conditions.
How much house can I afford?+
A common rule is to keep your mortgage payment below 28% of your gross monthly income. Use our calculator to see what different home prices cost monthly.
What's the difference between a 15-year and 30-year mortgage?+
A 15-year mortgage has higher monthly payments but you pay far less total interest and own your home twice as fast. A 30-year mortgage has lower payments but costs significantly more in interest over time.
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