How is the monthly mortgage payment calculated?

Using the standard amortization formula: M = P[r(1+r)^n]/[(1+r)^n – 1], where P is principal, r is monthly rate, and n is number of payments.

Mortgage Calculator

Calculate monthly mortgage payments with taxes and insurance. Full amortization schedule.

How to use: Enter home price, down payment, rate, and term to see monthly payments.

Loan Amount ($)

Annual Rate (%)

Loan Term (years)

Monthly payment: $1,896.20

Total paid: $682,633.47

Total interest: $382,633.47

Mortgage Payment Calculator

Enter loan amount, annual interest rate, and loan term to calculate your monthly payment, total amount paid, and total interest over the life of the loan.

Frequently Asked Questions

How is the monthly mortgage payment calculated?: Using the standard amortization formula: M = P[r(1+r)^n]/[(1+r)^n – 1], where P is principal, r is monthly rate, and n is number of payments.