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Monthly House Payment Calculator to Calculate House Payments

Calculator Preferences
Monthly House Payment Calculator Sign
Monthly House Payment Calculator

This calculator will calculate the monthly payment and total interest costs of a home mortgage. Includes an optional amortization schedule and a feature for discovering the shocking number of hours you will need to allocate to work just to pay the interest on the home loan. The $ave tab includes:

  • The opportunity cost of mortgage interest.
  • The opportunity cost of lost time off from work.
  • The money-saving Grow Slow, Pay As You Go method of home buying.
Learn More

Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Loan amt:Loan amount:Home loan amount:Home loan amount:

Home loan amount:

Enter the dollar amount of the home loan (principal amount), but without the dollar sign or any commas.

Interest rate:Interest rate:Annual interest rate:Annual interest rate:

Annual interest rate:

Enter the annual percentage rate (APR) of the home loan. Enter as a percentage without the percent sign (for 6%, enter 6).

# of years:Number of years:Loan term in years:Home loan term in number of years:

Loan term in number of years:

Enter the term of the home loan in number of years.

RHWReal hourly wageReal hourly wageReal hourly wage:

Real hourly wage:

Optional: If you would like the monthly house payment calculator to calculate the number of hours you will have to work just to pay the mortgage interest charges, enter your real hourly wage in this field. Clicking on the link will open the Real Hourly Wage Calculator in a new window.

Schedule?Include schedule?Include amortization schedule?Include amortization schedule?

Include amortization schedule?

If you would like the results to include an amortization schedule, select either "Monthly" or "Annual" from the drop-down menu. Otherwise select "None".

Monthly pmt:Monthly payment:Monthly house payment:Monthly house payment:

Monthly house payment:

Based on your entries, this how much your monthly house payment will be. This does not include property tax or insurance payments.

Total pmts:Total all pmts:Total of all monthly house payments:Total of all monthly house payments:

Total of all monthly house payments:

Based on your entries, this is the total of all of your monthly house payments.

Interest cost:Interest cost:Interest cost:Interest cost:

Interest cost:

Based on your entries, this is how much interest you will pay between now and when you finish the home loan repayment.

Work hours:# work hours:Work hours to pay interest charges:Number of work hours to pay interest charges:

Number of work hours to pay interest charges:

Based on your entries, this is how many hours you will need to allocate to working in order to pay just the mortgage interest charges. This does not include all of the hours you will need to work to pay for the down payment, principal, and all of the upfront and ongoing costs that come with buying and owning a home.

Work weeks:# work weeks:Work weeks to pay interest charges:Number of work weeks to pay interest charges:

40-hour work weeks to pay interest charges:

Based on your entries, this is how many 40-hour work weeks it will take you to just to pay the mortgage interest charges. Again, this does not include all of the 40-hour work weeks it will take you to pay for the down payment, principal, and all of the upfront and ongoing costs that come with buying and owning a home.

If you would like to save the current entries to the secure database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Feedback AppreciatedFeedback Greatly AppreciatedYour Feedback Would Be Greatly AppreciatedYour Feedback Is Greatly Appreciated
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Tip

Help and Tools

Help and Tools:

This section, which you can Unstick or Hide in the Calculator Preferences (just above the top of the calculator), contains the following tabs (content too long to fit within bordered frame can be scrolled up and down):

About: Click this tab for an introduction to the calculator.

Instructions: Click this tab for step-by-step instructions for using the calculator.

Terms: Click this tab for a list of the descriptions that are located within each popup help button (info icons).

PCalc: Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator.

Data: Click this tab to save a set of entries or a note in between visits. Entries and notes will be stored to your web browser's local storage (if supported by your browser of choice), meaning they can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save entries and notes between devices you can do so by subscribing to the Ad-Free Member Version.

 

Favorites

Add or remove this page to/from my favorites.

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.