Mortgage Calculator

Calculate your monthly mortgage payment and see total interest and total payment.

Loan Amount ($)

Annual Interest Rate (%)

Loan Term (Years)

Monthly Payment: $0

Total Payment: $0

Total Interest: $0

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About Mortgage Calculator

This tool helps you estimate your monthly mortgage payment based on loan amount, interest rate, and loan term. It also calculates total interest and total payment over the life of the loan.

How It Works

We use the standard amortization formula: M = P [r(1+r)^n] / [(1+r)^n - 1], where P is the loan amount, r is monthly interest rate, and n is total number of payments.

Advice

Use this calculator to plan your budget before taking a mortgage. Compare different rates and terms to find the best option. Actual payments may vary depending on taxes, insurance, and fees.

FAQs

Is this exact? This is an estimate; actual payments may vary.
Can I include taxes? This calculator does not include taxes or insurance.
Can I calculate bi-weekly payments? Currently it only calculates monthly payments.