Mortgage Calculator
Calculate your monthly payment, total interest, and loan amortization.
Monthly Payment
$1,517
Loan Amount
$240,000
Total Interest
$306,366
Total Cost
$546,366
How It Works
- Set your home price using the slider or enter directly
- Adjust your down payment amount (aim for 20% to avoid PMI)
- Select your loan term (15, 20, or 30 years are common)
- Enter the current interest rate and annual property tax
- See your total monthly payment including principal, interest, and tax
Frequently Asked Questions
Is the Mortgage Calculator free?
Yes, ApexSofteck Tools's Mortgage Calculator is completely free. Calculate mortgage payments unlimited times without any registration required.
What is included in the monthly payment?
The calculator includes principal, interest, and property tax. It does not include home insurance, HOA fees, or private mortgage insurance (PMI) which may apply.
How much should I put down?
A 20% down payment avoids PMI and gets better rates, but many loans accept 3-5%. The calculator shows you exactly how different down payments affect your monthly cost.
15-year vs 30-year mortgage?
15-year loans have higher monthly payments but much less total interest. 30-year loans offer lower payments with more flexibility. Compare both in the calculator!
Does this include closing costs?
Closing costs (2-5% of loan) are paid upfront and not included in the monthly calculation. Budget separately for these one-time fees.