30-Year Fixed Mortgage Payment Calculator
Calculate your 30-year fixed mortgage payment, total interest, and see the full amortization schedule. Free calculator with no sign-up required.
How This Calculator Works
Calculation methodology and assumptions
The 30-year fixed-rate mortgage is the most common home loan in the US. Monthly payments are calculated using the standard amortization formula: M = P[r(1+r)^n]/[(1+r)^n-1], where P is the principal, r is the monthly interest rate, and n is the number of payments (360 for a 30-year loan). Extra payments reduce principal faster, cutting total interest and payoff time.
Frequently Asked Questions
What is a 30-year fixed mortgage?
A 30-year fixed-rate mortgage is a home loan with a constant interest rate and monthly payments that remain the same for 30 years (360 payments). It is the most popular mortgage type in the United States.
What is the current 30-year mortgage rate?
As of 2026, 30-year fixed mortgage rates are approximately 6.5-7.0%. Rates change daily based on economic conditions. Check Freddie Mac PMMS for the latest weekly average.
How much house can I afford?
A common rule is the 28/36 rule: spend no more than 28% of gross income on housing and 36% on total debt. On a $100,000 income, that means up to $2,333/month for housing.
Should I make extra mortgage payments?
Extra payments go directly to principal, reducing total interest and payoff time. Even $100/month extra on a $300,000 loan at 7% saves over $70,000 in interest and cuts 5 years off the loan.