Free Mortgage Calculator: Estimate Your Monthly House Payment

Our advanced mortgage calculator is a comprehensive tool designed for prospective home buyers worldwide. It goes beyond simple estimates by allowing you to factor in your **down payment** (as a fixed amount or percentage), toggle the loan term between **years and months**, and view results in **any major currency**. This powerful utility provides a clear, detailed financial forecast for your home loan, making it an essential step in your property buying journey.

How to Use the Advanced Mortgage Calculator

Get a detailed breakdown of your mortgage in four easy steps:

1. Enter Home Price & Down Payment: Start with the total price of the property. Then, enter your down payment as a flat amount ($) or a percentage (%). The tool automatically calculates your total loan amount.
2. Define Your Loan Term: Input the duration of your loan and use the toggle to specify whether the term is in Years or Months.
3. Add Interest Rate & Currency: Enter your expected annual interest rate and select your local currency for accurate formatting.
4. Click "Calculate Payment": Instantly receive a detailed summary, including your monthly payment, total interest, and more. Use the "Copy Summary" button to save your results.

Understanding the Key Metrics

• Total Loan Amount: This is the Home Price minus your Down Payment. It's the actual amount of money you will be borrowing.
• Monthly Payment: The estimated amount you will pay each month, covering both principal and interest. This figure does not include property taxes or insurance (PITI).
• Total Interest Paid: A crucial number showing the total cost of borrowing over the entire loan term. A larger down payment or a shorter loan term can significantly reduce this amount.
• Total of all Payments: The sum of the loan amount and all interest paid over the life of the loan.

Disclaimer: This calculator provides estimates for informational purposes only and should not be considered financial advice. Market conditions, lender requirements, and other factors can affect your actual loan terms. Always consult with a qualified financial advisor and a mortgage professional.