Mortgage Calculator 2026
Calculate your exact monthly mortgage payment and total interest paid over the life of the loan. See how rate, term, and down payment change what you owe each month.
Quick answer: A mortgage payment is driven by loan amount, interest rate, term, taxes, insurance, and any PMI. Small rate changes can materially change monthly payment and lifetime interest.
Over 30 years you pay $436,284 in interest on a $360,000 loan.
Your entered extra principal produces a signed modeled interest difference of $0; confirm the servicer applies it to principal and check prepayment terms.
See current mortgage ratesYear-by-year amortization
30 years to payoff| Year | Principal Paid | Interest Paid | Balance |
|---|---|---|---|
| 1 | $4,234 | $22,308 | $355,766 |
| 2 | $4,506 | $22,037 | $351,260 |
| 3 | $4,795 | $21,748 | $346,465 |
| 4 | $5,102 | $21,441 | $341,363 |
| 5 | $5,429 | $21,114 | $335,934 |
| 6 | $5,777 | $20,766 | $330,157 |
| 7 | $6,148 | $20,395 | $324,009 |
| 8 | $6,542 | $20,001 | $317,467 |
| 9 | $6,961 | $19,582 | $310,506 |
| 10 | $7,407 | $19,135 | $303,099 |
| 11 | $7,882 | $18,660 | $295,216 |
| 12 | $8,388 | $18,155 | $286,829 |
| 13 | $8,925 | $17,617 | $277,903 |
| 14 | $9,498 | $17,045 | $268,406 |
| 15 | $10,106 | $16,436 | $258,299 |
| 16 | $10,754 | $15,788 | $247,545 |
| 17 | $11,444 | $15,099 | $236,101 |
| 18 | $12,178 | $14,365 | $223,923 |
| 19 | $12,958 | $13,585 | $210,965 |
| 20 | $13,789 | $12,754 | $197,176 |
| 21 | $14,673 | $11,870 | $182,503 |
| 22 | $15,614 | $10,929 | $166,889 |
| 23 | $16,615 | $9,928 | $150,275 |
| 24 | $17,680 | $8,863 | $132,595 |
| 25 | $18,813 | $7,729 | $113,781 |
| 26 | $20,019 | $6,523 | $93,762 |
| 27 | $21,303 | $5,240 | $72,459 |
| 28 | $22,669 | $3,874 | $49,790 |
| 29 | $24,122 | $2,421 | $25,668 |
| 30 | $25,668 | $874 | $0 |
Where this rate sits
Today's rate of 6.23% is at the 37th percentile of its ~5 years range (2.77%–7.79%). That's roughly in the middle of its own recent range.
FRED weekly series (mortgage30y). Historical data, not a forecast.
Total lifetime interest: $436,284. Compare at least 3 lenders — a 0.25% rate difference saves thousands over 30 years.
- 1
Calculate the baseline result with your current numbers
Estimate a fixed-rate mortgage payment and model how an entered extra principal payment changes payoff time and interest.
- 2
Compare the result against current market-rate options
Assumptions change the answer, especially when rates, taxes, or timing matter.
- 3
Save the result to Money Map or use the linked next action
Turn the result into a prioritized action instead of treating it as a one-off number.
This is an educational estimate, not tax, legal, investment, or lending advice. Tax rules, rates, and eligibility change and depend on your full situation. Confirm with a qualified professional or the provider before acting.
Turn this result into a decision
Every SwitchWize calculator connects to a product comparison, rate context, guidance, alerts, and Money Map.
About mortgage rates
Mortgage rates depend on loan type (30-yr fixed, 15-yr fixed, ARM, FHA, VA, jumbo), your credit score, down payment, points paid, loan amount, property state, and whether you're purchasing or refinancing. The calculator above uses a representative market rate for payment estimates — your actual rate will vary.
For a personalized rate comparison, use the tool below to see lenders ranked by APR, loan type, and your profile.
Mortgage rates shown on SwitchWize compare pages include loan type, assumed FICO, LTV, and points. Representative only — verify all terms directly with the lender. Advertising disclosure
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<script>(function(){window.addEventListener("message",function(e){if(e.origin!=="https://www.switchwize.com")return;var d=e.data;if(!d||d.type!=="sw-embed-resize")return;var f=document.getElementsByTagName("iframe");for(var i=0;i<f.length;i++){if(f[i].contentWindow===e.source){f[i].style.height=d.height+"px";break;}}});})();</script>Frequently Asked Questions
Everything you need to know.
What is a good mortgage rate in 2026?
How much house can I afford on my salary?
Should I choose a 15 or 30-year mortgage?
What is PMI and when can I remove it?
Is the Mortgage Calculator 2026 free to use?
Does using the Mortgage Calculator 2026 affect my credit score?
Are the results personalized financial advice?
What should I do after seeing the result?
How does SwitchWize choose related offers?
How fresh are the rates and offers shown?
Where can I see the ranking methodology?
Can Money Map use this result?
Why This Matters
A 0.5% difference in mortgage rate on a $400,000 loan costs $43,200 over 30 years. At today's average of 6.72%, small rate differences have enormous long-term consequences. Always run the math before accepting a rate.
How to Use It
- 1Enter your home price and down payment amount
- 2Set the interest rate — use our comparison page for live rates
- 3Choose your loan term (15 or 30 years)
- 4Add property tax and insurance for your true monthly cost
Compare mortgage lenders for this scenario
Use your payment estimate to compare mortgage lenders by APR, fees, lender fit, and closing context.