Mortgage Calculator
Estimate monthly mortgage payments, interest and amortization.
Inputs
Result
Monthly Mortgage Payment
$2,022.62
Principal & interest · 30 yrs
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Formula
Loan = Home price − Down payment. Monthly P&I = L × r × (1 + r)^n / ((1 + r)^n − 1), where L is the loan amount, r is the monthly rate and n is the term in months.
How it works
A mortgage calculator estimates the monthly principal & interest (P&I) on a home loan based on the home price, down payment, interest rate and term you enter.
Example
Example: A $400,000 home with 20% down at 6.5% APR for 30 years results in a monthly P&I of about $2,022.62. Total interest over the life of the loan is roughly $408,142.
Frequently Asked Questions
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