Mortgage Payment Calculator

Mortgage Payment Calculator — Estimate Your Monthly Payments

Calculate your monthly mortgage payments, total interest, and amortization schedule. Estimate costs for different loan terms and interest rates.

Step 1: Loan Details

Home Price

Down Payment (%)

0% 20% 50%

Loan Term (Years)

Mortgage Tips

A 20% down payment avoids Private Mortgage Insurance (PMI). Shorter loan terms have higher monthly payments but less total interest.

Step 2: Interest & Additional Costs

Interest Rate (%)

1% 4.5% 10%

Annual Property Tax

Annual Home Insurance

Include PMI (if down payment < 20%)

Include property tax & insurance in monthly payment

Interest Impact

A 1% difference in interest rate can save you tens of thousands over the life of your loan. Consider different rate scenarios.

Mortgage Payment Estimate

Summary

Amortization

Breakdown

Estimated Monthly Payment

$1,775

30-year fixed at 4.5%

Loan Amount

$280,000

Total Interest

$229,000

Total Payment

$509,000

Down Payment

$70,000

Interest Rate

4.5%

Loan Term

30 years

Pay-off Date

2054

Amortization Schedule

See how your payments are applied to principal and interest over time.

Year	Principal Paid	Interest Paid	Remaining Balance	Cumulative Interest

Payment Breakdown

Principal & Interest

$1,418

Property Tax

$292

Home Insurance

$100

PMI

Mortgage Payment Formula

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]
Where: M = Monthly payment, P = Loan principal, i = Monthly interest rate, n = Number of payments

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