A 15-year mortgage has higher monthly payments but a much lower total interest cost than a 30-year loan. Compare the two on the Amortization tab to see exactly how much interest a 15-year term saves over the life of the loan.
How this calculator works
Enter your numbers and the monthly payment recalculates instantly — no submit button, no page reload. The payment breakdown separates principal, interest, taxes, insurance, PMI and HOA. Use the tabs to view a full amortization schedule, compare scenarios side by side, or work backward from a monthly budget. Your inputs are encoded in the page link so you can bookmark or share a scenario without any account.