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Mortgage Calculator

Calculate your monthly mortgage payment using the free calculator below. A house is the largest purchase most of us will ever make so it's important to calculate what your mortgage payment will be and how much you can afford. Estimate your monthly payments and see the effect of adding extra payments.

Mortgage amount $
Mortgage term in years
or
Term in months
Interest rate per year %
Mortgage start date
$ Monthly payments

Lock in Monthly Payment of: $ or less

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APR and Payment examples shown do not include amounts for taxes and insurance premiums. The monthly payment obligation will be greater if taxes and insurance are included. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the lender you choose, please click here.

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Compare rates with confidence. Rates are accurate and available as of the date seen for Bankrate customers. Identify yourself as a Bankrate consumer to get the Bankrate.com rate. Bankrate.com has today's most competitive mortgage rates.

If you are seeking a mortgage in excess of $417,000, recent legislation may enable lenders in certain locations to provide rates that are different from those shown in the table above. We recommend that you contact your lender directly to determine what rates may be available to you.

Many lenders have different rates on their own websites than those posted on Bankrate.com. In order to get the Bankrate.com rate, please identify yourself as a Bankrate.com customer. Rates are subject to change without notice and may vary branch to branch. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Bank and thrift mortgages are insured by the Federal Deposit Insurance Corp. Credit union mortgages are insured by the National Credit Union Administration.

Rate collection and criteria
Click here for more information on rate collection and criteria.

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A mortgage calculator can be used for purposes other than estimating a new mortgage payment.

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What is a mortgage calculator?

An online mortgage calculator can quickly predict your mortgage payment and amortization schedule.

Mortgage Calculator Help

Using an online mortgage calculator can help you quickly and accurately predict your monthly mortgage payment with just a few pieces of information. It can also show you the total amount of interest you'll pay over the life of your mortgage. To use this calculator, you'll need the following information:

Mortgage Amount

If you're getting a mortgage to buy a new home, you can find this number by subtracting your down payment from the home's price. If you're refinancing, this number will be the outstanding balance on your mortgage.

Mortgage Term (Years)

This is the length of the mortgage you're considering. For example, if you're buying new, you may choose a mortgage loan that lasts 30 years. On the other hand, a homeowner who is refinancing may opt of a loan that lasts 15 years.

Interest Rate

Estimate the interest rate on a new mortgage by checking Bankrate's mortgage rate tables for your area. Once you have a projected rate (your real-life rate may be different depending on your overall credit picture) you can plug it into the calculator.

Mortgage Start Date

Select the month, day and year when your mortgage payments will start.

(Optional) Extra Payments

First, click on "Show Amortization Schedule" to use the "Add Extra Payments" functionality of Bankrate's mortgage calculator to find out how you can shorten your term and net big savings by paying extra money toward your loan's principal each month, every year or even just one time. To calculate the savings, enter a hypothetical amount into one of the payment categories (monthly, yearly or one-time) and then see how much interest you'll end up paying and your new payoff date.

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