Mortgage Amortization Calculator
Calculate mortgage payment, total interest, and first-month principal from loan amount, rate, and term.
- Last reviewed
- July 8, 2026
- Cost
- Free to use
- Data
- Runs in your browser
Monthly Payment
Enter valid inputs
Total Interest
Enter valid inputs
Total Paid
Enter valid inputs
First Month Principal
Enter valid inputs
Methodology
How this calculator handles inputs
This calculator uses the values you enter above and applies the formula explained in the guide below. Results update in the browser and are intended for quick planning, comparison, and sanity-checking.
- Use consistent periods, currencies, and units across inputs.
- Review any assumptions before using the result in a decision.
- Recalculate when rates, prices, tax rules, or business terms change.
Important note
This tool provides general planning information only. It is not tax, legal, financial, accounting, or investment advice. Check the current rules for your location and speak with a qualified professional before making a high-stakes decision.
Guide
How it works
Use this calculator to estimate mortgage payment and amortization basics.
What this calculator does
The mortgage amortization calculator estimates monthly payment, total interest, total paid, and first-month principal.
Mortgage Amortization Formula
Payment = P x r x (1 + r)^n / ((1 + r)^n - 1)
Where P is loan amount, r is monthly interest rate, and n is total months.
Example calculation
For a 300,000 mortgage at 6.5% for 30 years, the calculator estimates the monthly payment and total interest.
When to use this calculator
- estimating a mortgage payment
- comparing loan terms
- checking total interest
- understanding early principal payoff
FAQs
Does this include taxes and insurance?
No. It estimates principal and interest only.
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