Mortgage Calculator
Calculate your monthly mortgage payments with our easy-to-use calculator. Simply enter your loan details below.
Loan Details
$
%
Payment Summary
Monthly Payment
$1,703.37
Total Principal
$300,000
Total Interest
$313,213
Total Payments
$613,213
Loan Term
30 years
Payment Breakdown
Principal
Interest
How Mortgage Calculations Work
This calculator uses the standard formula for calculating a fixed-rate mortgage payment:
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]
Where:
M = Monthly payment
P = Principal loan amount
i = Monthly interest rate (annual rate divided by 12)
n = Total number of payments (loan term in years multiplied by 12)