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Payments & Costs

30-Year Mortgage Calculator

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Term locked to 30-year fixed.

30-year fixed payment

Total monthly (PITI)$2,514
Principal & interest$2,022.62
Property tax$366.67
Homeowners insurance$125.00
PMI (not required)$0.00
Total interest over 30 years$408,142
Total cost (P&I + down payment)$808,142
Loan amount $320,000 · 80% LTV

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About the 30-year mortgage calculator

A 30-year mortgage calculator estimates the monthly payment and total interest for the most popular home loan in America — the 30-year fixed. By spreading repayment across 360 months, this term produces the lowest monthly payment of the standard options, which is why it's the default choice for most first-time and move-up buyers.

Enter your loan amount and rate to see how affordable the monthly figure becomes, then notice the trade-off: a longer term means you pay interest for three decades, so lifetime interest is far higher than on a 15- or 20-year loan. This calculator helps you decide whether the lower payment is worth the added interest, given your budget and goals. As of 2026, a 30-year fixed loan at or below the conforming limit — $832,750 on a one-unit home, up to $1,249,125 in high-cost areas — usually earns the best pricing, since larger balances become jumbo loans.

A smart way to use it: take the comfortable 30-year payment, then add voluntary extra principal whenever cash allows. You keep the safety of a low required payment but pay the loan down faster. Compare the 30-year result with a 15-year scenario to see exactly how much interest that flexibility costs.

Frequently asked questions

Why choose a 30-year mortgage?
A 30-year fixed loan spreads payments over 360 months, giving the lowest monthly payment among standard terms. That affordability and the rate stability of a fixed loan make it the most common choice for buyers prioritizing cash flow.
How much more interest does a 30-year loan cost?
Considerably more than a 15-year loan, because you borrow for twice as long and 15-year loans usually carry lower rates. The lower monthly payment comes at the cost of much higher total interest over the life of the loan.
Can I pay off a 30-year mortgage early?
Yes. Most 30-year loans have no prepayment penalty, so extra principal payments shorten the term and cut interest. Many borrowers take the low required payment for safety, then pay extra when they can.
Is a 30-year or 15-year mortgage better?
It depends on priorities. A 30-year loan maximizes monthly affordability and flexibility; a 15-year loan saves enormous interest and builds equity faster but demands a higher payment. Compare both to match your budget and goals.

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