Calculated result
Enter values and select Calculate.
Mortgage payment formula
For monthly rate r, principal P, and n payments: payment = P × r ÷ (1 − (1 + r)−n). At exactly 0%, payment = P ÷ n.
Example: a $300,000 loan at 6.5% for 30 years produces about $1,896.20 per month in principal and interest.
What the estimate includes
Down payment may be entered as dollars or a percentage; the calculator keeps the alternate form synchronized. Taxes, insurance, HOA, and PMI are included only when you enter them and are not part of the amortized principal-and-interest balance.
Assumptions and limits
- Fixed annual interest rate with equal monthly principal-and-interest payments.
- One- to 50-year term and annual rate from 0% through 100%.
- Yearly rows are built from unrounded internal balances; displayed currency is rounded to cents.
- Taxes, insurance, HOA, and PMI vary and may change over time.
This is an educational estimate, not a lender quote, approval amount, APR disclosure, insurance quote, tax advice, or legal advice.