Mortgage Calculator
Estimate monthly payments, total interest paid, and loan cost.
Scenario A
Scenario B
Results
This estimate covers principal and interest only. Add property tax (~1.2%), homeowners insurance (~$150/mo), and PMI if down payment is less than 20%.
Scenario A
$0Scenario B
$0How to Use the Mortgage Calculator
Buying a home is one of the biggest financial decisions you'll ever make. Our mortgage calculator helps you understand exactly how much you'll pay each month and how much interest you'll pay over the life of the loan. To get started, simply enter your home price, down payment, loan term, and interest rate.
Why Use Our Mortgage Calculator?
- Accurate Amortization: See how your balance decreases over time.
- Bilingual Support: Fully supports English and Arabic layouts.
- Privacy-First: Your financial data never leaves your browser.
Key Mortgage Terms Explained
Principal: The actual amount of money you borrowed. Interest: The cost of borrowing that money. PMI: Private Mortgage Insurance, usually required if your down payment is less than 20%.
Frequently Asked Questions
Using the formula M = P[r(1+r)^n]/[(1+r)^n – 1], where P is principal, r is monthly rate, n is total payments.
Loan amount, interest rate, loan term, down payment, property taxes, and insurance all affect your monthly payment.