30-Year Mortgage Calculator
Calculate payments for a traditional 30-year fixed-rate mortgage.
Loan Details
What is a 30-year mortgage?
The 30-year fixed-rate mortgage is the standard American home loan. You borrow a lump sum, repay it over 360 monthly payments (30 years), and your interest rate stays the same for the entire loan. The long term makes monthly payments low enough that most home buyers can qualify, but it means you'll pay significantly more in total interest than shorter-term loans. On a $400,000 loan at 6.5%, a 30-year mortgage totals over $511,000 in interest over the life of the loan — vs roughly $211,000 on a 15-year at the same rate.
How to use this calculator
- Enter your home loan amount (purchase price minus down payment).
- Enter your interest rate — current 30-year rates are listed on our rates page.
- Confirm the term is set to 30 years (360 months).
- Optionally add property taxes, homeowners insurance, HOA fees, and PMI for a full PITI estimate.
- Click Calculate to see monthly payment, total interest, total cost, and a full amortization schedule.
Understanding your results
This calculator shows your monthly principal & interest payment, then optionally your full PITI payment (Principal, Interest, Taxes, Insurance). The total interest paid column shows you the real cost of the loan — the difference between what you borrowed and what you'll repay. The amortization schedule breaks down how each payment is split between principal and interest. Early in the loan, most of your payment goes to interest; by year 20+, you're paying mostly principal.
Tips to save on a 30-year mortgage
The 30-year loan gives you flexibility. Three strategies to consider: (1) make extra principal payments when you can — even $100/month extra saves thousands in interest and shaves years off the loan; (2) refinance to a shorter term if rates drop and you've built equity; (3) recast the loan (re-amortize) after a large principal payment to lower the monthly payment without refinancing.
Frequently asked questions
Should I pay points to lower my rate? Each point (1% of the loan amount) typically lowers your rate by about 0.25%. Buying points makes sense if you plan to stay in the home long enough to recoup the upfront cost from monthly savings — usually 3–5 years minimum.
What if I pay extra each month? Extra payments go directly to principal, which reduces your balance faster and saves substantial interest. Use our extra payment calculator to see the impact.
Can I switch to a 15-year loan later? Yes, through a refinance. Many homeowners wait until rates drop or until they've built 20–25% equity, then refinance into a 15-year to keep the payment manageable while paying off faster.