Mortgage Payment Calculator
Calculate your monthly mortgage payment including principal and interest
About this calculator
This mortgage payment calculator helps you determine your exact monthly mortgage payment, including both principal and interest portions. By entering your loan amount, interest rate, and loan term, you can quickly estimate what you'll pay each month before committing to a mortgage. This tool is essential for budgeting and comparing different loan scenarios to find the most affordable option for your financial situation.
How to use
Enter your total loan amount, annual interest rate, and loan term in years. The calculator will instantly display your monthly payment amount, showing how much goes toward principal and interest each month.
Frequently asked questions
What's included in the monthly payment calculation?
The calculation includes principal and interest only. It doesn't include property taxes, insurance, or PMI which may be part of your total payment.
How does loan term affect my monthly payment?
Longer loan terms result in lower monthly payments but more total interest paid over the life of the loan.
Can I use this for different types of mortgages?
Yes, this calculator works for conventional loans, FHA loans, VA loans, and other fixed-rate mortgage types.