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# Mortgage calculator

Work out the monthly payment and total interest for a fixed-rate mortgage from amount, rate, and years, with a year-by-year payoff summary.

Enter an amount, a rate, and a term to amortize the loan.

This is a principal-and-interest calculator. It does not add property tax, insurance, HOA dues, mortgage insurance, or closing costs, so a real housing payment will land higher than the number above. The payment assumes a fixed rate for the whole term and payments made monthly from day one; extra payments and recalculated variable rates are not modeled. Rates are entered per year and divided by twelve, so the figure is the nominal annual rate most lenders quote, not the compounded effective rate.
Options

## More unit & math tools

- [Average and median](/converters/statistics)
- [Unit converter](/converters/units)
[All unit & math tools](/converters)

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