CalcJoy

Mortgage Calculator

Your monthly mortgage payment — principal and interest only — with total cost over the life of the loan.

Inputs

Result

Monthly P&I
$2,358.93
Loan $360,000.00 · interest $489,215.94

Visual breakdown

Monthly P&I
$2,358.93
Loan amount
$360,000.00
Interest
$489,215.94
Total paid
$849,215.94
Principal · $360,000.00360,000(42%)
Interest · $489,215.94489,215.9(58%)

Formula

Loan = price − down. Monthly = L × r × (1+r)n ÷ ((1+r)n − 1), where r = APR/12.

Example

$450k home, $90k down (loan $360k), 6.85% APR, 30 yr (360 payments) → $2,359/month; total interest ≈ $489k.

Frequently asked

Does this include taxes and insurance?

No — this is principal & interest only. Add property tax, insurance and HOA separately for a true monthly housing cost.

What does down payment percent affect?

A larger down payment lowers the loan amount (and monthly payment) and may help you avoid private mortgage insurance below 20%.

How does APR compare to interest rate?

APR includes lender fees in an annualized rate; the interest rate alone is lower. Use APR for an apples-to-apples cost comparison.

Related calculators

Loan Payment CalculatorMonthly payment on any loan.Interest CalculatorSimple and compound interest.Savings CalculatorWatch monthly deposits grow.Paycheck CalculatorLite take-home estimator.

Estimates only. Real mortgages include taxes, insurance, fees and PMI — confirm with your lender before deciding.