Free calculator
Mortgage Payment Calculator
Free Mortgage Payment Calculator with instant browser-based results and a clear calculation breakdown.
Mortgage Payment Calculator
Calculate your estimated monthly mortgage payment based on loan amount, interest rate, and loan term.
Monthly Payment
$0.00
Total Amount Paid:
$0.00
Total Interest Paid:
$0.00
Number of Payments:
0
Formula: M = P × [r(1 + r)^n] / [(1 + r)^n - 1]
Where: M = Monthly payment, P = Principal loan amount, r = Monthly interest rate (annual rate ÷ 12), n = Number of monthly payments (years × 12)
This calculation provides an estimate for a fixed-rate mortgage with principal and interest only. Actual payments may include property taxes, insurance, HOA fees, and other costs.
Where: M = Monthly payment, P = Principal loan amount, r = Monthly interest rate (annual rate ÷ 12), n = Number of monthly payments (years × 12)
This calculation provides an estimate for a fixed-rate mortgage with principal and interest only. Actual payments may include property taxes, insurance, HOA fees, and other costs.
Want to understand the calculation?
Read the guideSee examples, formula notes and limitations.