Home Loan Calculator
Estimate your monthly payment and total interest for a home loan. Adjust the numbers in the full calculator — here's a worked example to anchor your planning.
$300,000
Loan amount
$1,896
Monthly payment
$382,633
Total interest
30 yr
Term @ 6.5%
Example assumes $300,000 borrowed at 6.5% APR over 30 years.
About this loan
A home loan (mortgage) is secured by the property you buy, repaid in fixed monthly installments over the term.
What affects your payment
- Loan amount — borrow less (bigger down payment) to lower payments and interest.
- Interest rate — driven by your credit score, term and market rates. Shop multiple lenders.
- Term — longer terms lower the monthly payment but raise total interest.
Pay less interest
Even a small extra monthly payment goes entirely to principal and can save thousands. Use the calculator's extra-payment field to see the impact on your payoff date and total interest.
FAQ
What would $300,000 at 6.5% over 30 years cost per month?
About $1,896 per month, with roughly $382,633 paid in interest over the full term.
How can I lower the payment?
Increase your down payment, secure a lower rate, or extend the term (which raises total interest). Try each in the calculator.