Calculator

Mortgage Calculator

USE this page to determine the monthly payment on your new home, as well as the total amount of interest you'll pay over the life of your mortgage. You may be surprised to find that, in many cases, you'll pay more in interest than you pay for the house itself!

Using the calculator as a "What If" tool, you can investigate scenarios like these:

NOTE: This page requires a browser which supports JavaScript. Netscape 2.0 is one such browser. If you are using a browser which does not support JavaScript, you will be able to enter data into the form below, but no calculations will be performed. All calculations are rounded to the nearest whole dollar for display. Interest is compounded monthly. Calculations are estimates only and should not be considered authoritative.

INPUT
Cost of Home: $
  Down Payment: $
Term of Mortgage: years
  Interest Rate: %

RESULTS
Financed Amount: $
  Monthly Payment: $
Total Payback: $
  Interest Paid: $