Finance calculator
Mortgage Calculator
Estimate a home loan or mortgage payment with principal, interest rate, and term.
Formula
Mortgage payment formula
Mortgage payments can also include property tax, insurance, association dues, and lender fees. Treat this as a principal-and-interest estimate.
Payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
For a 300,000 mortgage at 6.5% for 30 years, n is 360 monthly payments.
FAQs
Does this include property tax and insurance?+
No. It estimates principal and interest only, so add local taxes, insurance, and fees separately.
Why does a longer term cost more?+
A longer term lowers monthly payments but gives interest more time to accumulate.
How does the Mortgage Calculator calculate the result?+
It uses the Mortgage payment formula: Payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1). For a 300,000 mortgage at 6.5% for 30 years, n is 360 monthly payments.
What information do I need to use the Mortgage Calculator?+
Estimate a home loan or mortgage payment with principal, interest rate, and term.
How accurate is the Mortgage Calculator?+
Mortgage Calculator applies the formula and assumptions shown on this page. Results may be rounded for readability, so verify changing rates, thresholds, medical guidance, or legal rules with the cited source or a qualified professional.
What should I check before using the Mortgage Calculator result?+
Check that the units, dates, rates, and assumptions match your situation. Change one input at a time to understand which values have the largest effect on the result.
Finance guide
How to use the Mortgage Calculator
Estimate a home loan or mortgage payment with principal, interest rate, and term. The page also explains the mortgage payment formula and shows a practical example: For a 300,000 mortgage at 6.5% for 30 years, n is 360 monthly payments.
- 1
Enter your details
Enter principal, interest rate, and term, then complete any other fields shown in the calculator.
- 2
Check the calculation
Review the result alongside the mortgage payment formula: Payment = P × r × (1 + r)ⁿ ÷ ((1 + r)ⁿ − 1).
- 3
Compare scenarios
Change one or more inputs to see how they affect the mortgage Calculator result before you use the estimate.
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