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Calctive

Mortgage Calculator

Calculate your monthly mortgage payments, total interest, and see how much home you can afford with our comprehensive mortgage calculator.

Input Values

20.0% of home price

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💡Quick Tips

  • •20% down payment typically avoids PMI (Private Mortgage Insurance)
  • •Shorter loan terms mean higher monthly payments but less total interest
  • •Even 0.5% difference in interest rate can save thousands over the loan term

Results

LIVE

Enter values and calculate

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How to Use

  1. 1Enter the home price or purchase amount
  2. 2Input your down payment amount
  3. 3Select your loan term in years (typically 15, 20, or 30 years)
  4. 4Enter the annual interest rate
  5. 5Click Calculate to see your monthly payment and total costs
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Formula

M = P[r(1+r)^n] / [(1+r)^n - 1] Where: M = Monthly Payment P = Principal Loan Amount r = Monthly Interest Rate n = Number of Payments
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Common Use Cases

30-year fixed mortgage on a $300,000 home with 20% down
15-year mortgage for faster payoff with higher monthly payments
FHA loan with 3.5% down payment for first-time buyers
Compare different interest rates to see potential savings