Mortgage Calculator With Down Payment: Estimate Costs

Estimate your monthly mortgage payment after accounting for your down payment. This calculator helps you understand how much you may need to borrow based on your home price, down payment, interest rate, and mortgage term. You can also review yearly principal repayments, interest costs, and your remaining mortgage balance.

Enter your home’s purchase price and the amount you plan to pay upfront. Add the expected annual interest rate and mortgage term in years, then select Calculate Mortgage. The calculator estimates your monthly principal-and-interest payment and generates a yearly breakdown showing how your mortgage balance changes over time.

Your down payment is the portion of the home’s purchase price you pay upfront rather than borrow from a lender. For example, if you purchase a $400,000 home with an $80,000 down payment, your initial mortgage amount would be $320,000 before any applicable fees or financed costs.

A larger down payment reduces the amount borrowed and generally lowers the monthly payment and total interest, assuming the same rate and mortgage term. It may also reduce your loan-to-value ratio, which can affect mortgage insurance requirements and the rates or products available to you.

• Monthly mortgage payment: The estimated amount you pay each month toward principal and interest.
• Principal paid: The amount of mortgage debt repaid during the selected year.
• Interest paid: The estimated interest charged during that year.
• Remaining balance: The mortgage principal still outstanding at the end of the selected year.

Use the year selector to compare the early and later stages of repayment. In a typical amortizing mortgage, interest represents a larger share of payments at the beginning, while principal repayment gradually accounts for more as the balance decreases.

A higher interest rate generally increases your monthly payment and the total interest paid over the mortgage term. A longer term typically reduces the required monthly payment but can increase the total borrowing cost. A shorter term usually means higher monthly payments but less time for interest to accumulate.

Compare different interest rates, down payments, and mortgage terms to explore how each factor affects your budget. Remember that your complete homeownership costs may also include property taxes, homeowners insurance, maintenance, utilities, and homeowners association fees.

You can also use our Mortgage Calculator for a general payment estimate or our Down Payment Calculator to explore different upfront payment amounts.

Important: This calculator provides estimates for planning purposes, not a mortgage offer or personalised financial advice. It estimates principal-and-interest payments and does not include property taxes, insurance, closing costs, or mortgage insurance. Actual payments may vary with lender terms, fees, interest-rate changes, and mortgage-specific calculation methods. The displayed amounts are in US dollars; use consistent currency values for all inputs.