Solve for three different scenarios

First, enter some basic information:

Mortgage term:

Next, figure my:

Interest Rate

Loan Amount

Monthly Payment

Note: This calculates principal and interest only. It does not include property taxes, PMI, or homeowners insurance. Use our Cash to Close or Pre-Qualification calculator to estimate your full payment.

How accurate is this calculator?

This calculator uses the standard mortgage amortization formula P = L × [c(1 + c)ⁿ] / [(1 + c)ⁿ − 1], where L is loan amount, c is the monthly interest rate (annual ÷ 12), and n is the total number of monthly payments. Results are accurate to the cent, assuming a fixed rate and twelve equal payments per year. Your actual lender may use slightly different rounding rules in the final payment, but the difference is typically less than $0.50. For interest-only loans, the calculator uses simple monthly interest (loan amount × annual rate ÷ 12).

Want to know how we come up with our numbers? Read how our estimates compare to verified lender quotes →

Mortgage Payment Calculator