Mortgage Calculator
This Mortgage APR Calculator helps you estimate the true annual percentage rate (APR) on your mortgage, including interest, fees, and discount points, giving a complete picture of your loan cost.
Monthly Mortgage Payment Estimator
Mortgage Monthly Payment Formula
\[
\text{Monthly Payment} = \frac{P \times r}{1 – (1 + r)^{-n}}
\]
Where:
- $$P$$ = Principal loan amount (amount borrowed)
- $$r$$ = Monthly interest rate (annual interest rate divided by 12)
- $$n$$ = Total number of monthly payments (loan term in months)
- $$Monthly Payment$$ = Fixed mortgage payment each month
The Mortgage Calculator helps borrowers easily estimate their monthly payments for a home loan. It includes principal and interest payments, providing a clear view of loan affordability and financial planning before purchasing a home.