Utilko logo Utilko

Mortgage Calculator

Calculate your monthly mortgage payment, total interest paid, and full amortization schedule. Enter loan amount, interest rate, and term to see complete repayment details.

Used 22.6K times today

How to Use Mortgage Calculator

  1. 1

    Enter loan details

    Input the home price or loan amount, your down payment, annual interest rate, and loan term in years.

  2. 2

    Add optional costs

    Optionally include property tax, home insurance, and PMI for a complete monthly payment picture.

  3. 3

    Review your schedule

    See your monthly principal and interest breakdown, total interest paid over the life of the loan, and a full amortization table.

Frequently Asked Questions

How is the monthly mortgage payment calculated?
The payment is calculated using the standard amortization formula: P × [r(1+r)^n] / [(1+r)^n - 1], where P is the principal, r is the monthly interest rate, and n is the total number of payments.
What is PMI and when do I need it?
Private Mortgage Insurance (PMI) is typically required when your down payment is less than 20% of the home value. It protects the lender if you default and usually costs 0.5%–1% of the loan amount per year.
How much does an extra monthly payment save?
Making even one extra payment per year can significantly reduce the total interest paid and shorten your loan term by several years. The amortization table helps you see the exact impact.

About Mortgage Calculator

The Mortgage Calculator on Utilko gives you a full picture of what homeownership will cost. Beyond just the monthly payment, you can see the complete amortization schedule — showing exactly how much of each payment goes to principal versus interest across the entire life of your loan.

Understanding your mortgage before signing helps you compare loan offers, evaluate the true cost of a lower interest rate, and plan your finances confidently. All calculations happen locally in your browser with no personal data collected.

More Everyday Calculators Tools

Salary Calculator

Convert between hourly, weekly, bi-weekly, monthly, and annual salary. Calculate your take-home pay and understand your true compensation package instantly.

Compound Interest Calculator

Calculate compound interest growth with monthly contributions. See how your savings or investments grow over time with daily, monthly, or annual compounding.

Inflation Calculator

Calculate the effect of inflation on purchasing power. Find out how much a past dollar amount is worth today, or project future value of money at a given inflation rate.

Income Tax Calculator

Estimate your US federal income tax liability based on filing status and taxable income. See which tax brackets apply, effective tax rate, and estimated refund or amount owed.

Calorie Calculator

Calculate your daily calorie needs based on age, height, weight, activity level, and fitness goals. Get personalized targets for weight loss, maintenance, or muscle gain.

Due Date Calculator

Calculate your estimated pregnancy due date based on your last menstrual period or conception date. View your full trimester timeline and week-by-week pregnancy milestones.

Ovulation Calculator

Calculate your ovulation date and most fertile window based on your menstrual cycle. Identify the best days to conceive or track your cycle for family planning.

Sleep Calculator

Calculate the ideal bedtime or wake-up time based on 90-minute sleep cycles. Wake up feeling refreshed by timing your alarm to the end of a full sleep cycle.