Calculate your monthly mortgage payment, total interest, and view the first 12 months of your amortization schedule.
Enter the principal loan amount
Annual interest rate as a percentage (0 is allowed)
Loan tenure in years
Calculate your monthly mortgage payment and view a preview of your amortization schedule. Each payment covers interest first, then principal; early payments are interest-heavy and later payments are principal-heavy.
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ] where: M = monthly payment P = principal loan amount i = monthly interest rate (annual ÷ 12 ÷ 100) n = number of payments At 0% interest, M = P / n.
For a $200,000 mortgage with a 30-year term and an interest rate of 4%, the monthly payment is about $954.83. The schedule below shows how each of the first 12 payments splits into principal and interest.
Enter the loan amount, annual interest rate (%), and loan term in years. Calculate to see monthly payment, total interest, total payment, payment count, and the first 12 months of the amortization schedule (the full schedule is used for totals).
It computes the full schedule internally for accurate totals, and displays the first 12 months in a table. Totals (interest and payment) cover the entire loan term.
A 0% rate is supported. Monthly payment equals principal divided by the number of months, with no interest portion.
A fixed-rate mortgage keeps the same interest rate for the whole term. An adjustable-rate mortgage can change over time. This calculator models a fixed rate.
When shopping for a mortgage, it's essential to understand how much you can afford to borrow and what your monthly payments will be. A mortgage loan calculator can help you make informed decisions and find the best mortgage for your needs
A mortgage loan calculator is a tool that helps you calculate your monthly mortgage payment based on the loan amount, interest rate, and loan term. It can also provide you with an amortization schedule, which shows how much of each payment goes towards interest and principal
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]
For example, if you're considering a $200,000 mortgage with a 30-year term and an interest rate of 4%, the monthly payment would be approximately $955
To use this mortgage loan calculator, simply enter the loan amount, interest rate, and loan term, and the calculator will provide you with your monthly payment and amortization schedule
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