30-Year Fixed Mortgage Calculator

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A long repayment period and predictable interest rate make the 30-year fixed-rate mortgage the go-to home loan for 9 out of 10 home buyers.

The 30-year fixed-rate mortgage calculator estimates your monthly payment as well as the loan’s total cost over the term. With a home price of $400,000, an $80,000 down payment and a 4% interest rate, the monthly mortgage payment would be $1,528, excluding other costs, such as property tax, home insurance and homeowner association dues.

NerdWallet’s 30-year fixed mortgage calculator uses your home price, down payment and annual interest rate to estimate your monthly as well as biweekly mortgage payments. For a fuller picture, you can also enter cost estimates for annual property tax, annual home insurance and monthly homeowner association dues.

Enter the following in the calculator:

If you’d like, you can enter the following advanced options:

Once you’ve entered everything, the calculator will provide these results:

The calculator does not include cost for mortgage insurance. You likely will pay for private mortgage insurance on a conventional loan if your down payment is under 20%. See our for a monthly payment estimate including the cost of private mortgage insurance.

Thinking about an FHA mortgage? See NerdWallet’s to estimate your monthly payment, including FHA mortgage insurance.

A 30-year fixed mortgage gives you a more affordable monthly payment than a 15- or 20-year mortgage because it stretches the repayment over a longer period. But it also provides flexibility — you can pay the mortgage off faster by making extra payments or adding to your monthly payment.

Unlike an adjustable-rate mortgage, a fixed-rate mortgage is predictable. The principal and interest portion of your mortgage payment stays the same, no matter what happens in the economy.

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A 30-year fixed mortgage typically has a higher interest rate than a mortgage with a shorter repayment term. It also takes longer to build equity, and you pay more in total interest over a 30-year term than with a 15- or 20-year fixed-rate mortgage.

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Yes, you can pay off a 30-year mortgage faster by making extra payments or adding to your monthly payment. If you want to pay it off in 15 or 20 years, ask your lender for an  showing how much you need to pay each month to pay off the mortgage in the preferred time period.

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