Mortgage Payment Calculator
Calculate a monthly mortgage principal-and-interest payment from loan amount, annual rate, and years.
How to use
- Enter mortgage principal, annual rate, and repayment years.
Capabilities and scope
Years are converted to months and a fixed-rate level-payment equation is used, with total repayment and interest insights.
How it works
n=years×12 and r=rate/1200 in the standard amortizing payment equation.
Example
A 300,000,000 loan at 4% for 30 years is calculated over 360 payments.
Useful for
- Compare approximate mortgage principal-and-interest payments
Before you use it
- Property tax, insurance, fees, maintenance, and rate changes are excluded.
Frequently asked questions
Does the payment include property taxes?
No. It calculates principal and interest only.