Real Estate & Finance
Mortgage Payment Calculator
Calculate monthly mortgage payments, total interest, and amortization schedule.
🏠 Loan Details
Loan Amount
$
Interest Rate
%
📅 Term & Payments
Loan Term
Extra Payment (Monthly)
$
Extra amount to pay monthly (reduces interest)
💰 Fees & Taxes
Property Tax (Annual)
$
Home Insurance (Annual)
$
PMI (Monthly)
$
Private Mortgage Insurance (if down payment < 20%)
Interest
0%
Monthly Payment
$0
including taxes & insurance
Principal & Interest
$0
Total Interest
$0
Total Payment
$0
Interest Saved
$0
📊 Amortization Schedule
| Period | Payment | Principal | Interest | Balance |
|---|
How the formula works
M = P × r × (1 + r)ⁿ / [(1 + r)ⁿ − 1]
- M = Monthly mortgage payment
- P = Principal loan amount
- r = Monthly interest rate (annual rate ÷ 12 ÷ 100)
- n = Total number of payments (months)
- Total Payment = M × n, Total Interest = Total Payment − Principal
- PITI = Principal + Interest + Taxes + Insurance