This mortgage payment calculator helps you estimate your monthly payments based on your loan amount, interest rate, and loan term.

Formula

Monthly Payment = Loan Amount × (Interest Rate / (1 – (1 + Interest Rate)^(-Loan Term)))

Example Calculation

If you take a $300,000 loan with a 3.5% annual interest rate over 30 years, your estimated monthly payment would be $1,347.13.

Why It Matters

Knowing your monthly mortgage payment helps you plan your budget and make informed decisions when choosing a loan that fits your financial goals.

Smart Strategy

Consider how changes in interest rates or loan terms could impact your monthly payment and overall loan costs over time.