Mortgage Calculator

Use the loan amount, annual interest rate and number of monthly payments to estimate principal-and-interest payments. Taxes, insurance and fees are separate. Formula: M = P[r(1+r)^n] ÷ [(1+r)^n − 1]

Loan Amount: Interest Rate (%): Loan Term (years):

Results:

Monthly Payment:

Total Payment:

Estimate Mortgage Payments

Use the loan amount, annual interest rate and number of monthly payments to estimate principal-and-interest payments. Taxes, insurance and fees are separate.

Formula: M = P[r(1+r)^n] ÷ [(1+r)^n − 1]

Keep the interest rate, payment frequency and time period consistent. Fees, compounding rules, taxes and lender or issuer conventions can change a real-world result, so use the calculator as a calculation aid rather than a contract quote.

Recalculate the result from the displayed formula and confirm that rate, term, compounding and monetary amounts use the same time basis.

Frequently Asked Questions FAQ

What does Mortgage Calculator calculate?

Use the loan amount, annual interest rate and number of monthly payments to estimate principal-and-interest payments. Taxes, insurance and fees are separate.

What is the formula for Mortgage Calculator?

The formula used by the calculator is: M = P[r(1+r)^n] ÷ [(1+r)^n − 1]

What inputs does Mortgage Calculator need?

Enter loan amount, interest rate and term, plus any requested payment assumptions.

How can I verify the Mortgage Calculator result?

Recalculate the result from the displayed formula and confirm that rate, term, compounding and monetary amounts use the same time basis.

How should I round the Mortgage Calculator result?

Keep full precision through intermediate steps and round the final currency, rate or percentage value according to the purpose of the calculation.

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