Explanation

What is Mortgage?

A mortgage is a home loan repaid in monthly installments over a fixed term.

What this calculator does

Estimate monthly mortgage payment.

Inputs you need

• Loan amount
• Annual rate (%)
• Term (years)

Formula

M = P x r / (1 - (1+r)^-n) where r is monthly interest and n is total months.

Example

Loan 350000, 6.5%, 30 years:

• Monthly payment ≈ 2212.23

Quick input set you can try:

• Loan amount: 350000
• Annual rate (%): 6.5
• Term (years): 30

FAQ

1) What does this calculator help with? It helps you calculate Mortgage quickly and with consistent formulas.

2) Which formula is used? It uses the standard method shown in the formula section on this page.

3) Can I use decimal values? Yes. Decimal values are supported for most numeric fields.

4) Should I rely on this for final decisions? Use it as a practical estimate, and verify critical decisions with official documents or expert advice.