Free Mortgage Calculator

Your bank shows monthly payment.
We show the truth.

See total interest paid, equity growth, rent vs buy breakeven, and your full amortization schedule.

🔒 No data stored ⚡ Instant results 🆓 100% free 📱 Mobile friendly
Your Mortgage Details
Type a value or drag the slider
Home Details
USD
$50K$3M
%
3%50%
yrs
5 yrs30 yrs
%
1%15%
Monthly Costs
%/yr
0%3%
$
$0$1,000
$/yr
$200$5,000
Rent vs Buy
Include Rent Comparison
$/mo
$300$8,000
%/yr
0%10%
🔧 Built by engineers, not lenders. No bank affiliation, no rate kickbacks. We show you the math your lender hopes you never see. — TrueCostMortgage.com
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Your full mortgage picture awaits

Adjust the values above and click Calculate to see everything your bank doesn't show you.

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Why Most Calculators Lie

Basic calculators show monthly payment. What they hide: you pay back 2-3x the loan over 30 years. This tool shows the real number upfront.

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Rent vs Buy: The Real Math

Buying isn't always better. Depends on your market, how long you stay, and opportunity cost. Our breakeven analysis tells you exactly when buying wins.

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Full Amortization Schedule

See every year - how much goes to principal vs interest. In year 1, most of your payment is pure interest. This table makes that visible.

How to Use the Mortgage True Cost Calculator

Most people ask: "what's my monthly payment?" But the real question is: what will this home actually cost over 30 years? On a $400,000 home at 6.5%, you'll pay over $500,000 in interest alone.

Understanding Your Amortization Schedule

In the early years, the vast majority of each payment goes toward interest, not principal. This is called front-loaded interest - one of the most important concepts homebuyers need to understand.

FAQ

Is PMI included?
PMI is not included. If your down payment is under 20%, add 0.5-1.5% of loan value annually to your true monthly cost.
15-year vs 30-year mortgage?
A 15-year mortgage saves $150,000+ in interest on a typical home. Use the loan term input to compare both instantly.
How accurate is rent vs buy?
The comparison assumes rent increases ~2.5%/year and uses your set appreciation rate. It's a strong estimate, not a guarantee.