Mortgage Calculator
Calculate monthly mortgage payments, total interest and full repayment breakdown.
Total Monthly Payment
$2,220
per month
This calculator provides estimates for reference only. Consult a mortgage professional for advice.
How to Use
Enter your home price, down payment amount, annual interest rate, and loan term. Optionally add your annual property tax and home insurance costs. The calculator instantly shows your monthly payment breakdown.
How It Works
The mortgage payment is calculated using the standard amortization formula: M = P[r(1+r)^n]/[(1+r)^n-1], where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments.
Frequently Asked Questions
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