Estimate monthly mortgage payments, interest, and amortization.
M = P × [r(1+r)^n] / [(1+r)^n − 1], where P is the loan amount, r is the monthly rate, and n is the number of payments.
A $300,000 loan at 6.8% for 30 years costs about $1,963/month in principal and interest.
A full payment typically includes principal, interest, property taxes, and insurance (PITI), and may include PMI and HOA dues. This calculator covers only principal and interest.
A 15-year mortgage has higher payments but far less total interest. A 30-year mortgage offers lower payments and more flexibility. The right choice depends on your cash flow.
No. Results are estimates based on a fixed-rate model. Your actual rate and terms depend on your credit, lender, and market conditions.
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