Mortgage Calculator by Financept is the app people reach for the moment a home price gets real: what does this actually cost per month? That question shouldn’t need an install just to get a rough number. So we built PayPath, a free mortgage payment planner that runs right here in your browser. No app, no ads, no signup. Move a slider and the monthly payment, total interest, and amortization chart update instantly.
Estimate your mortgage payment
It opens with a working example already loaded: a $400,000 home, 20% down, at 6.5% over 30 years. Drag the sliders to match your own numbers.
How to use it
Set four things: home price, down payment, interest rate, and loan term (15, 20, or 30 years). The headline number is your monthly principal-and-interest payment, computed with the standard amortization formula every lender uses: M = L x r x (1+r)^n / ((1+r)^n - 1), where L is the loan amount, r the monthly rate, and n the number of payments. The donut next to it shows how your total cost splits between principal and interest over the life of the loan, which on a 30-year term usually leans heavily toward interest.
The chart plots your remaining balance falling year by year, with stacked bars showing how much of each year’s payments goes to principal versus interest. Push the down payment slider up and watch both the loan amount and the interest bars shrink. Your inputs stay saved on your device. Nothing leaves your browser.
How it compares to Mortgage Calculator
PayPath answers one question well: what will this loan cost me each month, and how does that split between principal and interest over time. The full Mortgage Calculator app goes further. It factors in property tax, homeowners insurance, and PMI, handles extra payments against principal, lets you export or email a complete amortization schedule, and print or save it as a PDF. It also supports side-by-side loan comparisons, which matters once you’re actually shopping quotes.
We kept the core loop: adjust the numbers, watch the payment and the balance curve move. We dropped tax and insurance escrow, PMI, exports, and saved scenarios, on purpose, because a browser page you land on mid-search should give you a usable number in ten seconds, not a form to fill out.
Our honest advice: use PayPath while you’re browsing listings, comparing rate offers, or just curious what a bigger down payment buys you. Install the app once you’re seriously running the numbers on a specific property and want taxes, insurance, and PMI folded into the real monthly figure, or need a document to share with a lender.
Get the full app
Mortgage Calculator by Financept is free on Android, supports PMI, taxes, and extra payments, and can export or print a full amortization schedule.
Frequently asked questions
How is a mortgage payment calculated?
Lenders use the standard amortization formula: M = L x r x (1+r)^n / ((1+r)^n - 1). L is the loan amount, r is the annual rate divided by 12, and n is the number of monthly payments. For a $320,000 loan (a $400,000 home with 20% down) at 6.5% over 30 years, that works out to roughly $2,022 a month in principal and interest. The calculator above runs this exact formula live as you move the sliders.
Does this include property tax and insurance?
No. PayPath calculates principal and interest only, which is the core loan payment. Real monthly housing costs also include property tax, homeowners insurance, and often PMI if your down payment is under 20%, all of which vary by location and lender. The full Mortgage Calculator app factors those in.
Can I calculate a mortgage payment online without installing an app?
Yes. The calculator on this page works in any phone or laptop browser, needs no account, and keeps working offline once the page has loaded. Your inputs are saved in your browser’s local storage on your device only.
How much does a bigger down payment save?
It lowers your loan amount directly, which lowers both the monthly payment and the total interest over the life of the loan, since interest is charged on the outstanding balance. Move the down payment slider above and watch the loan amount, monthly payment, and interest bars shrink together.
Is this the official Mortgage Calculator app?
No. PayPath is an original tool we built, inspired by the payment-estimation problem Mortgage Calculator solves. It is not affiliated with, endorsed by, or connected to Financept. If you want PMI, tax and insurance escrow, exports, and a printable amortization schedule, get the app from the stores above.
