Calculate your estimated monthly mortgage payment based on loan amount, interest rate and term, with a full amortization schedule.
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This mortgage calculator uses the same standard loan amortization formula as our EMI and Loan calculators: Monthly Payment = P × r × (1+r)^n / ((1+r)^n − 1), where P is the loan principal, r is the monthly interest rate, and n is the total number of monthly payments over your mortgage term.
This tool estimates principal and interest only. It doesn't include property taxes, homeowner's insurance, PMI (private mortgage insurance), or HOA fees, all of which typically add to your actual monthly housing payment beyond this estimate.
No, this calculator estimates principal and interest only. Your actual monthly payment may be higher once taxes, insurance, PMI, and HOA fees are included.
15-year and 30-year fixed terms are the most common in many markets, with 30-year terms offering lower monthly payments but more total interest paid over the loan's life.
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