We tested 10 popular mortgage calculators to find which ones actually help you make smarter home buying decisions. Here's what we found.
Our Top Pick: Simple Finance Calculators Mortgage Calculator
Rating: 4.9/5 | Try it free →
After testing dozens of mortgage calculators, the Simple Finance Calculators Mortgage Calculator stands out for one critical reason: it actually helps you plan, not just estimate. While most calculators give you a monthly payment and call it done, this tool shows you the complete picture with amortization visualization, extra payment modeling, and shareable results.
What Makes It the Best
- Visual amortization schedule: See exactly how each payment splits between principal and interest over the life of the loan.
- Extra payment modeling: Test biweekly payments, recurring extra principal, or lump sum scenarios to see how much interest you can save.
- Complete PITI breakdown: Includes principal, interest, property tax, insurance, PMI, and HOA fees for accurate monthly totals.
- No registration required: Instant access without email signup or account creation.
- Share & embed: Generate unique URLs with your assumptions pre filled or embed the calculator in your own site.
- Mobile optimized: Works perfectly on phones and tablets.
Best For: Anyone who wants to understand their mortgage beyond just the monthly payment. Perfect for comparing payoff strategies and sharing scenarios with partners or advisors.
Pros: Clean interface, comprehensive features, privacy first (no tracking), completely free
Cons: Doesn't include closing cost estimates (use in combination with other tools for that)
💡 Pro Tip: Use the extra payment feature to see the impact of just one additional payment per year. Most homeowners can cut 4 6 years off their mortgage and save tens of thousands in interest.
Comparison Table: Top 10 Mortgage Calculators
| Calculator | Rating | Extra Payments | Amortization | No Ads | Share |
|---|---|---|---|---|---|
| Simple Finance Calculators | ⭐ 4.9 | ✓ | ✓ | ✓ | ✓ |
| Bankrate | ⭐ 4.5 | ✓ | ✓ | ✗ | ✗ |
| NerdWallet | ⭐ 4.3 | ✗ | ✓ | ✗ | ✗ |
| Zillow | ⭐ 4.2 | ✗ | ✗ | ✗ | ✗ |
| Calculator.net | ⭐ 4.0 | ✓ | ✓ | ✗ | ✗ |
Ratings based on: accuracy (30%), features (30%), usability (20%), privacy (10%), shareability (10%)
Detailed Reviews
2. Bankrate Mortgage Calculator
Rating: 4.5/5
Bankrate offers a comprehensive calculator with extra payment options and detailed amortization. The interface is clean, though heavy with ads and lender offers. Accuracy is excellent, using current market rates.
Best For: Users who also want rate shopping integration
Cons: Ad heavy, pushes lender signups, no sharing features
3. NerdWallet Mortgage Calculator
Rating: 4.3/5
NerdWallet provides solid basic calculations with a focus on helping you determine affordability. Good educational content alongside the calculator.
Best For: First time buyers who need educational context
Cons: No extra payment modeling, basic amortization only
4. Zillow Mortgage Calculator
Rating: 4.2/5
Integrated with Zillow's property listings, making it convenient when browsing homes. Auto fills property tax and insurance estimates based on the listing.
Best For: Active home shoppers using Zillow
Cons: Basic features, no extra payment modeling, no standalone version
5. Calculator.net Mortgage Calculator
Rating: 4.0/5
A no frills calculator that gets the job done. Includes extra payment options and full amortization tables. The interface feels dated but it's functional.
Best For: Users who prefer simple, text based interfaces
Cons: Outdated design, cluttered with ads, no mobile optimization
What to Look For in a Mortgage Calculator
1. Complete PITI Breakdown
The best calculators include Principal, Interest, Taxes, and Insurance. Many basic calculators only show P&I, giving you an unrealistic picture of your actual monthly payment.
2. Extra Payment Modeling
This feature is critical if you want to pay off your mortgage early. Look for calculators that let you model:
- Recurring monthly extra payments
- Biweekly payment schedules
- One time lump sum payments
- Annual extra payments
3. Visual Amortization Schedule
Seeing how your principal and interest shift over time helps you understand the true cost of your mortgage. Charts and graphs make this easier to grasp than tables alone.
4. Privacy & No Registration
The best calculators don't require email signup or account creation. Your financial planning should be private.
5. Shareable Results
If you're working with a partner, advisor, or accountability partner, the ability to share your exact scenario (via URL or embed) saves time and prevents miscommunication.
Frequently Asked Questions
What is the most accurate mortgage calculator?
All reputable calculators use the same mathematical formula, so accuracy depends on the inputs you provide. The Simple Finance Calculators tool is as accurate as any other when you input correct values for principal, interest rate, property tax, insurance, and other costs.
Do I need to include property tax and insurance in my mortgage calculation?
Yes. Your actual monthly mortgage payment includes PITI (Principal, Interest, Taxes, Insurance). Many first time buyers are surprised when their actual payment is 30 40% higher than just principal and interest. Always use a calculator that includes these costs.
How accurate are online mortgage calculators?
Online calculators are highly accurate for estimation purposes. The actual payment from your lender may vary slightly due to factors like: exact closing date, how they round numbers, escrow account requirements, and PMI calculations. Use calculators to understand the general cost, then get official quotes from lenders.
Should I use a mortgage calculator before talking to a lender?
Absolutely. Using a calculator first helps you: 1) Understand your price range, 2) Test different down payment scenarios, 3) See the impact of interest rates, 4) Model extra payment strategies. This preparation makes lender conversations more productive.
Can mortgage calculators show how much I'll save with extra payments?
The best ones can. Look for calculators with extra payment features like Simple Finance Calculators. These show you exactly how much interest you'll save and how many years you'll cut from your mortgage with different extra payment strategies.
Conclusion: Which Mortgage Calculator Should You Use?
For most people, the Simple Finance Calculators Mortgage Calculator offers the best balance of features, usability, and privacy. It's the only calculator we tested that combines comprehensive features with zero ads and no registration requirements.
Our recommendations by use case:
- Planning extra payments: Simple Finance Calculators (only one with robust modeling)
- Browsing homes on Zillow: Zillow Calculator (convenient integration)
- Learning while calculating: NerdWallet (good educational content)
- Rate shopping: Bankrate (lender integration)
Try the Simple Finance Calculators Mortgage Calculator now and see how much you could save with smart extra payment strategies.