Mortgage Tools
Mortgage Payment Calculator
Estimate what your mortgage payment could look like based on your purchase price, down payment, interest rate, amortization and preferred payment schedule.
Your information
Estimate your payment.
Adjust the numbers below to explore how your financing choices may affect your regular mortgage payment.
Enter the annual mortgage rate you would like to estimate.
How long would you like to repay the mortgage?
A longer amortization usually lowers the payment, but generally increases the total interest paid.
How often would you like to make payments?
Your results
Here's what your payment could look like.
Estimated mortgage payment
$3,179
per month
Mortgage amount
$575,000
Interest rate
4.49%
Amortization
25 years
Payment schedule
Monthly
Monthly payment
$3,179
12 payments each year
Regular bi-weekly payment
$1,467
26 payments each year
Accelerated bi-weekly payment
$1,590
Half the monthly payment every two weeks
What this payment includes
What you may also need to budget for
This calculator provides an estimate using the information entered. Actual lender payments may differ slightly because of lender-specific calculations, rounding, mortgage insurance and product terms.
Understanding your payment
Your payment is shaped by more than the interest rate.
The mortgage amount, interest rate, amortization and payment frequency all influence what you pay regularly and how quickly the mortgage is repaid.
Mortgage amount
A larger down payment reduces the amount borrowed, which generally lowers both your regular payment and the interest paid over time.
Interest rate
Even a small change in the interest rate can affect your payment. Comparing scenarios can help you understand how much flexibility your budget has.
Amortization
A longer amortization generally reduces the regular payment, but it also means the mortgage is repaid over more time and may cost more in interest.
Monthly versus accelerated bi-weekly
Accelerated bi-weekly payments are calculated as half the monthly payment, paid every two weeks. Because there are 26 bi-weekly periods in a year, this is similar to making one additional monthly payment each year and may help repay the mortgage sooner.
Continue Planning
Continue Your Home Buying Journey
These resources build on what you’ve just learned and can help you take the next step with more confidence.
Down Payment Calculator
Understand minimum down payment requirements and how your contribution may affect your mortgage.
Open CalculatorClosing Costs Calculator
Estimate many of the common costs you may need to budget for beyond your down payment.
Open CalculatorFirst-Time Home Buyer Guide
Learn how the buying process works, from preparing your finances to receiving the keys.
Read GuideA Note from Kiersten
Want to explore your payment options?
This calculator provides a helpful starting point, but your actual payment can depend on the mortgage product, interest rate, property, down payment and lender. I'd be happy to review your plans, compare different scenarios and help you understand which options may fit your budget.