Mortgage Calculator
Calculate mortgage payments and amortization
Share:
$1,516.96
Monthly Payment
$306,105.60
Total Interest
$546,105.60
Total Payment
$240,000.00
Loan Principal
Principal: $240,000.00Interest: $306,105.60
How to Use Mortgage Calculator
- 1Enter the home price and down payment amount.
- 2Set the annual interest rate and loan term in years.
- 3View your monthly payment, total interest, and total cost.
- 4Toggle the amortization schedule to see the payment breakdown.
About Mortgage Calculator
Calculate monthly mortgage payments, total interest, and total cost of a home loan. View a complete monthly amortization schedule showing principal, interest, and remaining balance for each payment.
Frequently Asked Questions
What is an amortization schedule?
An amortization schedule shows the breakdown of each monthly payment into principal and interest portions, along with the remaining loan balance after each payment.
How is the monthly payment calculated?
The formula is M = P[r(1+r)^n]/[(1+r)^n-1], where P is the loan amount, r is the monthly interest rate, and n is the total number of payments.