A mortgage calculator estimates your fixed monthly principal-and-interest
payment for a home loan, based on the loan amount, annual interest rate,
and loan term.
This calculator estimates your monthly payment.
Disclaimer : Enter numbers in your local currency — the calculation works the same regardless of currency. This estimate excludes property tax, insurance, and other fees.
Formula
Monthly Payment = P × r × (1 + r)n ÷ [(1 + r)n − 1]
Where P = loan amount, r = monthly interest rate (annual rate ÷ 12), and
n = total number of monthly payments (years × 12).
Example
If Loan Amount = 300,000, Interest Rate = 6.5%, and Term = 30 years:
Monthly Payment ≈ 1,896.20
Over 360 monthly payments, total interest paid comes to roughly 382,632 —
more than the original loan amount — which shows why interest rate and loan
term matter as much as the loan amount itself.
How Mortgage Connects to Your Other Calculators
A mortgage is usually the biggest recurring commitment in a household budget,
so it rarely makes sense to look at it in isolation from the rest of your
finances.
EMI Calculator — mortgages are just one type of EMI-based loan; use the EMI calculator for other loans like auto or personal loans to see your full monthly debt load.
Retirement Calculator — knowing your fixed mortgage payment helps you work out how much you can realistically set aside each month for retirement contributions.
Fixed Savings Calculator — compare the interest rate you're paying on your mortgage against the rate you could earn on savings to decide whether extra payments or saving makes more sense.
SI / CI Calculator — understand the difference between simple and compound interest, which helps explain why so much of an early mortgage payment goes toward interest rather than principal.
Related Calculators
EMI Calculator — calculate monthly payments for any type of loan.
Retirement Calculator — plan long-term savings around your fixed monthly commitments.
Fixed Savings Calculator — see what a lump sum could earn instead of going toward extra mortgage payments.
A mortgage calculator estimates your monthly home loan payment based on the loan amount, interest rate, and loan term. It also shows how much of your total payments over the life of the loan goes toward interest versus principal.
The monthly payment is calculated using the loan amortization formula, which accounts for the principal, the monthly interest rate, and the total number of monthly payments. This produces a fixed payment that fully repays the loan by the end of the term.
No, this calculator estimates only the principal and interest portion of your payment. Property tax, homeowners insurance, private mortgage insurance, and HOA fees are not included and can add a significant amount to your actual monthly payment.
The mortgage rate is the interest rate used to calculate your monthly payment, while the APR includes the interest rate plus certain lender fees and closing costs, expressed as a yearly percentage. APR is usually slightly higher and gives a fuller picture of the loan's true cost.
A longer loan term, such as 30 years instead of 15, lowers your monthly payment but significantly increases the total interest paid over the life of the loan, since interest accrues over a longer period.
Yes, making extra payments toward the principal reduces the outstanding balance faster, which lowers the total interest paid and can shorten the loan term, though some lenders may charge prepayment penalties, so it's worth checking your loan terms first.