Estimate a fixed-rate mortgage payment from loan amount, annual interest rate and term, with optional monthly housing costs.
Result: Enter mortgage assumptions.
Formula
For a fixed-rate amortizing loan, monthly principal and interest is calculated from principal, monthly interest rate and total number of monthly payments. A zero-interest loan is principal divided evenly across the term.
Payment limitation
This estimate does not automatically include mortgage insurance, closing costs, changing escrow amounts, adjustable rates or lender-specific fees. Optional tax, insurance and HOA fields are simply added to the monthly estimate.