Mortgage Calculator

Calculate monthly payment, total interest, and amortization for any home loan

Home Price ($)

Down Payment ($)

Annual Interest Rate (%)

Loan Term (Years)

Monthly Payment

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Loan Amount

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Total Interest

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Total Cost

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Down Payment %

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How mortgage payments are calculated

The monthly payment formula uses the loan principal (home price minus down payment), the monthly interest rate (annual rate ÷ 12), and the number of payments (years × 12). The formula is: M = P[r(1+r)^n] / [(1+r)^n - 1]