Mortgage Calculator
Calculate mortgage payments, total interest, and payment schedule. Free mortgage calculator tool.
How to Use
- 1
Enter loan amount
Enter the principal loan amount (the total amount you are borrowing).
- 2
Enter interest rate
Enter the annual interest rate as a percentage.
- 3
Enter loan term
Enter the number of years for the loan term.
- 4
Calculate
Click the "Calculate" button to see your monthly payment and payment schedule.
Use Cases
Home Buying
Calculate monthly mortgage payments when buying a home
Refinancing
Compare different mortgage options and interest rates
Financial Planning
Plan your budget and understand total interest costs
Frequently Asked Questions
How is the monthly payment calculated?
The monthly payment is calculated using the standard mortgage formula that accounts for principal, interest rate, and loan term.
What is included in the payment schedule?
The payment schedule shows the first 12 months of payments, including principal, interest, and remaining balance for each month.