Mortgage Interest Calculator
Enter your loan amount, rate and term to see the monthly payment and the total mortgage interest.
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Enter the loan amount, rate and term to see the interest.
Worked example
With these example inputs:
- Loan amount$420,000
- Interest rate5.5%
- Loan term15 yr
Monthly payment: $3,432
- Total interest$197,715
- Total of payments$617,715
- Payoff time15 yr
Frequently asked questions
How much interest does a mortgage cost?
Over a long term the interest can rival the loan itself. A $300,000 mortgage at 6.5% over 30 years pays well over $380,000 in interest across the life of the loan.
How can I pay less interest?
A lower rate, a shorter term or extra principal payments all cut the total. The donut and chart show how your payments split between interest and principal over time.