Enter a home price, down payment, rate and term to get your monthly principal-and-interest payment instantly, plus the total interest you will pay over the life of the loan.
How it works
- Enter the home price and your desired down payment.
- Set the interest rate and the length of the loan in years.
- The calculator computes the amortization formula and displays your monthly P&I payment.
Frequently asked questions
What does P&I mean?
Principal and interest — the core loan payment, before property tax, insurance, PMI or HOA dues are added.
Why does a small rate change matter so much?
Interest compounds over hundreds of payments. On a 30-year loan, even 0.5% more in rate typically adds tens of thousands of dollars in total interest.
What is LTV?
Loan-to-value: the loan amount divided by the home price. Above 80% LTV, conventional lenders usually require PMI until you build more equity.