Homeownership tools

Mortgage payment & payoff calculator

A home payment should make sense in your real budget. Explore the monthly cost and a possible path to paying off your loan.

Estimate your monthly housing costs. See how extra principal could change your payoff date.

I want to...

Sample numbers shown. Calculations stay in your browser; no signup or bank connection.

Your mortgage
Use the note rate, not APR. A fresh benchmark fills untouched buyer examples; otherwise 6.5% is a sample, not a quote.

Checking the weekly mortgage benchmark...

National average, not a loan offer. Your credit, down payment, fees, and lender affect your quote. Source: Freddie Mac PMMS.
Try paying a little extra
One-time extra payment
Month 1 is the first / next payment month above.
Taxes, insurance & other housing costs
Housing costs

Enter estimates from the property, insurer, and lender. Zero does not mean mortgage insurance is unnecessary. Maintenance, utilities, closing costs, and future increases are not included.

Assumptions & what this estimate cannot tell you

This estimates a US fixed-rate mortgage with monthly payments and interest calculated at the annual note rate divided by 12. Interest and payments are rounded to cents. The final payment clears the remaining balance, so lender rounding may differ. Extra payments go to principal at the scheduled payment date, without recasting the regular payment.

Mortgage insurance is entered manually and included in the current monthly estimate, not forecast to cancel automatically. No adjustable-rate resets, daily interest, missed payments, fees, balloon balances, tax deductions, or prepayment penalties are modeled. Loan types such as FHA and VA may have different insurance or fee requirements.

Your statement is the starting point for what you owe; only your servicer can give an exact payoff quote. Check how to designate extra principal and whether your loan has a prepayment penalty. Housing costs can continue after the mortgage is paid off.

The weekly Freddie Mac benchmark covers a defined national mortgage sample, not your specific property or credit profile. If the source cannot be refreshed, the tool labels older data or asks you to enter a rate. Existing loan rates are never replaced by the benchmark.

Understand your Loan Estimate · Check prepayment terms. Educational estimates, not loan approval or personalized financial advice.

Give your estimate a reality check

Buying? Use the lender’s Loan Estimate and property-specific costs. Already own? Use your current statement’s principal balance, note rate, and principal-and-interest payment. Neither a home listing nor a market-rate average tells you exactly what you owe.

Read the guide to mortgage payments and extra principal for a worked example and the questions to ask your servicer.

Keep room for repairs, utilities, moving costs, and an emergency fund. An affordable payment is one you can manage alongside the rest of your life, not just one a lender might approve.

Check your monthly margin or plan your emergency fund.