Mortgage Calculator
Calculate your estimated monthly mortgage payment and total loan costs.
Calculator
Calculator Details
Enter your information to calculate results
Results
Mortgage Results
$2,147.29
Monthly Payment
Loan Amount:$400,000.00
Total Payment:$773,023.14
Total Interest:$373,023.14
Down Payment %:20.0%
How It Works
The mortgage calculator determines your monthly payment based on loan amount, interest rate, and term.
M = P × [r(1+r)^n] / [(1+r)^n - 1]
Where M = Monthly Payment, P = Principal, r = Monthly Rate, n = Payments
Examples
Example: Family Home
Home Price: $500,000
Down Payment: $100,000 (20%)
Interest Rate: 5%
Term: 30 years
Monthly Payment: $2,147.29
Compare
Compare different down payment amounts and loan terms to find the best mortgage option.
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