How to Use How It Works

US Mortgage Calculator

See full disclaimers

Basic Loan Information

Home Price

Down Payment

Interest Rate

Loan Term

Annual Property Tax

Annual Insurance

US-Specific Fees (Optional)

Credit Score

300-850 range

PMI Rate (%)

Required if down payment < 20%

HOA Fees ($/month)

Monthly: $0-500+

Loan Type

Origination Fees & Costs

Origination Fee ($)

Direct Loan Costs ($)

CECL Allowance Rate (%)

Note: Lenders hold an allowance for expected credit losses (CECL) under ASC 326 that is not modeled here. Actual net loan balances would be reduced by that allowance.

Extra Payments (Optional)

Extra Monthly Payment

One-time Extra Payment

Results

$0

Monthly Payment

$0

Total Interest

$0

Total Cost

$0

Loan Amount

Payment Breakdown

Interest Income*: $0
Principal Repayment: $0
Property Tax: $0
Insurance: $0
PMI/MIP: $0
HOA: $0

* Interest Income includes deferred fee amortization per ASC 310-20

For official APR disclosure, refer to your lender's Loan Estimate.

GAAP Compliance Results

Effective Yield (GAAP): –
Estimated APR (Reg Z): –
Net Loan Amount: –
Net Fee Deferred: –
CECL Allowance: –

Note: CECL allowance is a contra-asset (not a cash cost) that reduces the carrying amount to net amount expected to be collected. It is re-measured each reporting period under ASC 326-20.

Direct Costs: Under U.S. GAAP, direct loan costs (appraisal, title, underwriting) may be expensed as incurred rather than deferred. This calculator nets them against origination fees for illustrative purposes. Actual lenders may expense direct costs separately, which would affect the net fee calculation.

Note: For FRS 102 (UK IFRS), fee deferral is similar but effective rate disclosures may differ. This calculator is designed for U.S. GAAP compliance.

Reg Z APR: Includes origination fees (finance charges include origination fees, discount points, etc.) and excludes property tax, insurance, HOA, and PMI (non-finance charges). For official APR, refer to your lender's Loan Estimate.

This estimate is illustrative. Your actual APR will be provided on the Loan Estimate you receive after application.

Enter your loan details and click calculate to see results

Extra Repayment Savings!

Money saved:

$0

Loan term reduced:

0 years

These savings are based on your extra repayments. If you make extra payments, you can pay off your loan faster and save on interest.

US Mortgage Calculator: Your Guide to Home Loans

Understanding Mortgages in the United States

Buying a home in the US involves understanding mortgage terms, interest rates, and payment schedules. Our US Mortgage Calculator helps you estimate monthly payments, total interest, and understand how extra payments can reduce your loan term.

Key Features of US Mortgages

Principal & Interest: Standard repayment type that reduces your loan balance over time.
Interest Only: Pay only interest for a set period, then switch to principal & interest.
APR: Annual Percentage Rate includes all interest and fees.
PMI (Private Mortgage Insurance): Required if your down payment is less than 20%.
Extra Payments: See how additional payments can shorten your loan term.

How to Use This Calculator

Enter your loan amount, interest rate, loan term, and repayment frequency to get an accurate estimate of your repayments. The calculator shows your amortization schedule and the impact of extra payments.

Tips for US Home Buyers

Compare APRs and total cost of credit from multiple lenders.
Consider the total cost of homeownership, including property taxes and insurance.
Check for early repayment penalties or fees.
Use extra payments to pay off your mortgage faster and save on interest.
Review your credit score and financial situation before applying.

Why Use Our Calculator?

Accurate, up-to-date formulas for the US
Includes all major fees and loan types
Helps you compare different loan terms and rates
Free, no registration required

Related Calculators

Mortgage Resources

Important Information: Disclaimer: This calculator is provided for general information and educational purposes only. We are not a lender, creditor, mortgage broker, or financial advisor, and we are not licensed in any state. This tool does not consider your personal circumstances, credit history, or financial situation and is not mortgage advice. You should review your lender's Loan Estimate and Closing Disclosure and seek independent professional advice before making any decisions.
* Rates, fees, and terms are subject to change without notice. PMI, property tax, and HOA fees vary by location and lender—check with your lender for current rates and requirements. This tool is provided "as is" and does not guarantee any rate or terms.
GAAP Compliance: This calculator models ASC 310-20 fee deferral and ASC 326-20 CECL allowance. Actual lender calculations may differ based on specific accounting policies and credit risk assessments.
Reg Z Compliance: APR calculations follow Truth-in-Lending Act requirements. For official APR disclosure, refer to your lender's Loan Estimate. See CFPB Loan Estimate Guide for more information.
Privacy: We do not collect personal information. If we did, we would comply with the Gramm-Leach-Bliley Act (GLBA) privacy requirements. See our Privacy Policy for details.

Privacy Policy | Terms of Use | Disclaimer