Finance
Mortgage payment
Estimate monthly principal-and-interest payments and total interest.
Your numbers
Both a decimal point and a comma work.
Result
1,461.48
Monthly payment
- Interest
- 188,442.53
- Total payments
- 438,442.53
How it works
r = i / 1200; P = S × r / (1 − (1 + r)⁻ⁿ)
Using the calculator
Enter: Loan principal after down payment · Annual rate · Loan term in years. Calculation: r = i / 1200; P = S × r / (1 − (1 + r)⁻ⁿ).
Worked input and result
Example: Loan principal after down payment = 200,000; Annual rate = 4 %; Loan term in years = 20. Result: Monthly payment = 1,211.96 (Interest: 90,870.56; Total payments: 290,870.56).
Understanding the result
Uses fixed-rate amortization with monthly interest. Enter the financed amount after your down payment. Insurance, taxes and fees are excluded. At zero interest, principal is divided by the number of months.
This is an estimate for a fixed-rate, fully amortizing loan. Property taxes, insurance, down-payment rules and lender fees are not added to the monthly payment.