MtgCalc: Mortgage Calculator review

Reviewed by iTechGuides Editors · Editorial team · Updated Nov 2026

MtgCalc is a free mortgage-planning website and iOS app for people exploring home-loan costs. It suits buyers comparing affordability and payment scenarios, as well as homeowners considering refinancing or extra principal payments. The calculators model U.S.-dollar, fixed-rate loans with monthly payments, so it is not designed for adjustable-rate loans or for treating estimates as a lending decision.

The website combines several useful planning angles: payment estimates can include entered property taxes, homeowners insurance, HOA dues, mortgage insurance, and extra principal; affordability analysis uses income, debt, and budget inputs. Refinance tools compare payment and cost changes and calculate a break-even point. Monthly amortization details show principal, interest, and balance, and users can compare 15-year and 30-year terms. The full amortization schedule can be downloaded as a CSV. This breadth makes it useful for comparing related costs without focusing only on the monthly payment.

Platform differences matter when choosing where to work. The iOS app saves loan scenarios and offers monthly or yearly amortization details, but it does not model refinancing, adjustable rates, or extra principal; those capabilities are documented for the website in part, while adjustable-rate modeling is not supported. The app is therefore a better fit for keeping and reviewing scenarios on iOS, while web users have access to the broader set of documented calculations and CSV export. Choose MtgCalc for free exploratory comparisons of fixed-rate loans; choose another tool if you need adjustable-rate reset modeling or a loan offer or approval.

MtgCalc: Mortgage Calculator pros and cons

• Where it wins
  • Combines payment, affordability and refinance break-even estimates
  • Shows amortization and models extra-principal payoff on the website
  • iOS app saves scenarios; website exports amortization schedules as CSV
• Where it doesn't
  • Models fixed-rate loans only, not adjustable-rate resets
  • The iOS app does not include refinancing or extra-principal modeling
  • Estimates are educational, not loan offers or approvals

MtgCalc: Mortgage Calculator fact sheet, pricing and score →

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Last updated 14 Nov 2026 · How we research and update