Our powerful calculator helps you understand your mortgage options, save money, and find the best payment plan for your needs.
Our advanced calculator provides accurate estimates of your mortgage costs, helping you make informed decisions about your home financing.
Adjust the values below to see how different loan amounts, interest rates, terms, and down payments affect your monthly payments.
Our mortgage calculator offers powerful features designed to help you make informed financial decisions
Get instant results as you adjust values, helping you make quick comparisons between different mortgage scenarios without waiting.
View detailed monthly payment breakdowns including principal and interest, helping you understand exactly where your money goes.
Adjust loan amount, interest rate, term, and down payment to match your specific financial situation and housing market conditions.
Understand the total cost of your mortgage including interest over the full term, helping you see the big picture of your investment.
Access our calculator from any device - desktop, tablet, or smartphone - with a responsive interface that adapts to your screen size.
Your financial information stays on your device. We don't store your mortgage details or personal information on our servers.
Follow these simple steps to get accurate mortgage payment estimates in seconds
Input your desired loan amount in the "Loan Amount" field. This is the total amount you plan to borrow from the lender.
Enter the annual interest rate offered by your lender. Even small differences in interest rates can significantly impact your monthly payments.
Select your preferred loan term in years. Common terms are 15 or 30 years, but you can enter any term between 1 and 50 years.
Specify your down payment amount. A larger down payment reduces your loan amount and monthly payments.
Click "Calculate" to see your monthly payment breakdown, including total payment and interest over the life of the loan.
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Read MoreThousands of homebuyers and homeowners trust QevaPicks to make informed mortgage decisions
"QevaPicks helped me understand exactly how much house I could afford. The calculator is intuitive and gave me the confidence to negotiate with lenders. I saved thousands on my mortgage!"
First-time homebuyer
"I was considering refinancing but wasn't sure if it made financial sense. This calculator made it crystal clear how much I'd save over time. The detailed breakdown of costs was exactly what I needed."
Homeowner since 2018
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Find answers to common questions about mortgages and using our calculator
The monthly payment includes principal and interest. Note that actual mortgage payments might also include property taxes and insurance, which are typically held in escrow by your lender and paid on your behalf.
A larger down payment reduces your loan amount, resulting in lower monthly payments and less interest paid over time. Additionally, down payments of 20% or more typically allow you to avoid private mortgage insurance (PMI).
Yes, you can use this calculator to estimate payments for both new mortgages and refinancing scenarios. For refinancing, enter your new loan amount (remaining principal), the new interest rate, and your desired term.
Our calculator uses standard mortgage calculation formulas to provide accurate estimates. However, actual payments may vary based on additional fees, insurance, and the specific terms of your loan agreement.
You can calculate payments for any loan term between 1 and 50 years, though 15 and 30-year terms are most common. Shorter terms typically have lower interest rates but higher monthly payments.
This calculator focuses on principal and interest. For a complete monthly payment picture, add estimated property taxes, homeowners insurance, and possibly HOA fees separately. These can add significantly to your monthly housing costs.
Higher interest rates increase your monthly payment and total interest paid over the loan term. Even a 0.5% difference in interest rate can significantly impact your total cost over a 30-year mortgage.
Currently, calculations are not saved. We recommend taking screenshots or notes of different scenarios to compare options. All calculations are performed locally on your device for privacy.
Amortization is the process of paying off your mortgage through regular payments, with portions going to both principal and interest. In the early years of your mortgage, a larger portion goes toward interest, while later payments apply more to principal.
Recalculate whenever you're considering changes to your loan terms or when shopping for a new mortgage. It's also wise to recalculate when interest rates change significantly or when your financial situation changes.
Pre-qualification is an informal estimate of how much you might be able to borrow based on self-reported information. Pre-approval is a more formal process where a lender verifies your financial information and credit to determine how much they're willing to lend you.
Points are fees paid directly to the lender at closing in exchange for a reduced interest rate. Each point typically costs 1% of your loan amount and lowers your rate by 0.25%. Our calculator can help you determine if paying points makes financial sense for your situation.
Discover why thousands of homebuyers trust our mortgage calculator for their financial planning
Our calculator uses industry-standard formulas and algorithms to ensure precise mortgage calculations you can rely on.
All calculations happen on your device. We never store your financial information or personal data on our servers.
Access our comprehensive library of mortgage articles, guides, and tips to make informed decisions about your home financing.
Our powerful mortgage calculator and educational resources are 100% free to use, with no hidden fees or subscriptions.
We continuously improve our calculator and keep our educational content up-to-date with the latest mortgage trends and information.
Use our free calculator to estimate your monthly payments, total interest, and more. Make informed decisions about your home financing today.