Mortgage Calculator
Calculate monthly mortgage payments, breakdown, and full amortization schedule
Loan Details
Payment Summary
Enter home price, down payment, and interest rate to see results
Amortization Schedule
Amortization schedule will appear here
What is the Mortgage Calculator?
Buying a home is probably the biggest financial decision most people make, and a mortgage calculator is how you figure out what that actually costs every month. Enter your home price, down payment, interest rate, and loan term, and CalciHub's calculator gives you the monthly principal and interest payment. It also lets you factor in property taxes and insurance if you want the full picture. Whether you're looking at homes in New York, Austin, or Denver, this tool works the same way — just plug in your numbers.
How Does It Work?
Mortgages use the same amortization math as personal loans. Your monthly payment is fixed, but early payments mostly cover interest. As the balance drops, more of each payment goes toward principal.
Formula: M = P × [r(1+r)^n] ÷ [(1+r)^n − 1]
M = monthly mortgage payment
P = loan principal (home price minus down payment)
r = monthly interest rate (annual rate ÷ 12)
n = number of monthly payments (loan term × 12)
How to Use CalciHub's Mortgage Calculator
1. Enter the home price.
2. Enter your down payment (amount or percentage).
3. Input the annual interest rate from your lender.
4. Set the loan term — 15 or 30 years are the most common.
5. Optionally add annual property tax and homeowners insurance.
6. Click Calculate to see your monthly payment breakdown.
Tip: Run the numbers with a 15-year term vs. 30-year — the monthly difference is smaller than most people think, and you'll save a huge amount in interest.
A Quick Example
John is buying a $380,000 home in Chicago. He has $76,000 saved for a 20% down payment and qualifies for a 30-year fixed mortgage at 6.8%.
Home price: $380,000
Down payment: $76,000 (20%)
Loan amount: $304,000
Interest rate: 6.8%
Term: 30 years
Monthly payment (P&I): $1,985
Total interest over 30 years: $410,600
That's a real number worth sitting with: John pays more in interest than the original loan amount. Refinancing if rates drop, or paying slightly extra each month, can knock years off that timeline.
Frequently Asked Questions
The base payment covers principal and interest. But your actual monthly bill often includes property taxes and homeowners insurance held in escrow, and potentially PMI (private mortgage insurance) if your down payment is under 20%. CalciHub's calculator can include all of these.