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30-Year Mortgage Calculator

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This 30-year mortgage calculator estimates your monthly principal-and-interest payment, total interest over the full term, and overall loan cost. Enter home price, down payment, and interest rate with a 30-year term to see why the most common U.S. mortgage keeps payments lower than shorter loans—at the cost of more lifetime interest.

The 30-year fixed mortgage is the default choice for many U.S. buyers because spreading repayment over 360 months keeps the monthly payment lower than shorter terms on the same loan amount.

Lower payments come with higher total interest. Running the same home price at 15 years shows how much extra you pay over the life of a 30-year loan—and whether that trade-off fits your cash flow.

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How to use this tool

Enter home price, down payment, and annual interest rate, then set the loan term to 30 years. Optionally add property tax, insurance, and HOA for a full monthly housing estimate. Use scenario compare to see how a 15-year term changes the payment.

Worked example

Example: $450,000 home with $90,000 down (20%), 6.75% rate, and a 30-year term gives roughly $2,334/month principal and interest on a $360,000 loan—about $480,000 in total payments over 30 years.

When to use this

  • Estimating payments on a standard 30-year fixed offer.
  • Comparing a 30-year payment to rent for a buy-vs-rent decision.
  • Checking how rate changes affect a 30-year installment.
  • Modeling a first home purchase with 20% down.

Common examples

  • Buying a $350,000 home with 20% down ($70,000), 6.5% APR, 30 years, $4,200/year tax and $1,800/year insurance → principal and interest near $1,770/month; total housing payment near $2,270/month before PMI.
  • Buying a $500,000 home with 10% down ($50,000), 7% APR, 30 years, $6,000/year tax, $2,400/year insurance, and $150/month HOA → P&I near $2,994/month; estimated total near $3,844/month.
  • First-time buyer: $275,000 home with 5% down ($13,750), 6.75% APR, 30 years, modest tax and insurance → P&I near $1,694/month; total near $2,094/month—PMI often applies below 20% down.
  • $425,000 home with 15% down, 6.75% APR, 30 years → P&I near $2,350/month before tax and insurance.
  • Refinance scenario: $280,000 remaining balance at 5.9% for 25 years → compare to current 6.5% payment on the same balance.

What people search for

Common mistakes

  • Comparing a 30-year payment to a 15-year quote without noting total interest.
  • Assuming the rate is locked without confirming with the lender.
  • Using list price instead of the financed amount after down payment.
  • Ignoring that ARM products are not 30-year fixed loans.

Related long-tail tasks

  • compare 30 vs 15 year payment on same home
  • calculate total interest on 30 year loan
  • see payment at 7% vs 6% rate
  • estimate 30 year payment with 5% down
  • find affordable home price at target payment

How it works

Enter the home price, down payment, interest rate, and term. The calculator derives the loan amount and uses the standard amortizing loan formula for principal and interest. Optional annual property tax, home insurance, and monthly HOA fees are added to estimate a total monthly payment. Fees, PMI, and taxes beyond your inputs are not included.

Limitations

Monthly payment estimates exclude HOA, PMI changes, escrow adjustments, and property tax reassessments. Not a loan offer or pre-approval.

Privacy and file handling

Your data is processed in your browser and is not uploaded to our server.

Accuracy & methodology

This section documents how the calculator works, what it leaves out, and when results were last reviewed. Figures are educational estimates—not professional advice—and are not labeled "current" unless tied to automatically updated reference data.

Formula source or methodology
Loan amount = home price − down payment. Monthly principal & interest uses the standard amortizing loan payment formula (same as loan calculator). Optional annual property tax, insurance, and HOA are divided by 12 and added to P&I for total monthly housing payment.
Jurisdiction
General mortgage math (not country-specific underwriting rules)
Unit system
Currency for price, down payment, tax, insurance, HOA; years for term; percent for rate
Rounding method
Currency amounts round to two decimal places (half up via Math.round × 100 / 100).
Assumptions
  • Fixed annual interest rate for the full term
  • Level monthly payments (fully amortizing)
  • Down payment is a dollar amount, not a separate percent field
Known omissions
  • Not tax, legal, investment, or lending advice. Confirm material decisions with qualified professionals.
  • Origination fees, points, PMI/MIP, and lender-specific charges unless a field exists
  • Property taxes, insurance, and HOA unless explicitly entered
  • Prepayment penalties and variable or adjustable rates after the initial period
  • Tax deductibility of interest
Test cases (automated)
  • Typical home price, down payment, rate, and term return positive P&I and total interest
  • Down payment greater than home price is rejected
Version & last verified

Logic version 1.0. Content and formulas last verified .

Important notice

Results are estimates for educational purposes and are not financial advice. Taxes, insurance, HOA fees, and lender-specific costs may not be included. Consult a qualified financial professional for personal guidance.

Related Mortgage Calculator guides

These pages use the same mortgage calculator with guides tailored to specific search intents.

Frequently asked questions

Why is a 30-year mortgage payment lower than 15 years?

The same loan amount spread over 360 months instead of 180 produces a smaller monthly payment, but you pay interest for twice as long, which increases total cost.

Is a 30-year fixed rate the same as any 30-year loan?

This calculator assumes a fixed rate for the full term. Adjustable-rate mortgages may start with a 30-year schedule but can change payments after an initial fixed period.

Can I pay off a 30-year loan early?

Most fixed-rate loans allow extra principal payments without penalty, but confirm with your lender. Extra payments reduce total interest even on a 30-year note.

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